Posts from ‘July, 2009’

I had to buy a second home for my sister under my name because she did not qualify for a mortgage at the time. My sister is considering a deed in lieu for her house that is under my name. I understand the mortgage forgiveness debt relief act only applies to primary homes (I am [...]

Which of the following was a key feature of Jefferson’s “revolution” and a reaction against years of Federalist rule
A)eliminating the national debt and thereby reducing the need for taxes
B)eliminating the opposition Federalist party
C) acquiring additional territory that could help to bolster American freedom
D)strengthening the army to stand guard against tyrants
E)sending cash [...]

In what order would you put these?
a) Iraq war spending
b) Bush’s trillion dollar tax cuts
c) Stimulus package
d) Bending over backwards for oil corporations
e) Bush’s opposition to medicare being able to negotiate for lower rates from pharmacutical companies
f) Bush’s support for a medicare bill that favored the healthcare industry instead of the taxpayer and [...]

I owe $5500 to the IRS from a 2005 return. I did an Offer in Compromise for this debt to find out that they will take my tax return for the next 5 years until it is paid in full. What is the point in settling a debt if they are going to [...]

My wife and myself are just getting out of college this year. We both are in the field of education, and quite truthfully we are up to our eyeballs in student debt loans, and living in pretty bad place at the moment.
Quite truthfully, we do not come from very well off families. At this point [...]

OK, so long story short, I owe the state of VA back taxes on a securities account (that my parents opened and closed in 2000 under my SSN, again that’s a whole other story).
I’ve been out of the country for the last decade or so having lived and worked overseas only to come back to [...]

When nearly 1/10th of our tax dollar goes to just paying the interest on the national debt, should the government do something about paying it off?
Ok so 1. Our debt is actually mostly to ourselves not other countries although some foreign investors hold U.S. government bonds and such.
2. Bill Clinton did NOT erase the national [...]

I settled a debt in July of 2007 but didn’t receive a 1099C until today (02/02/2009) for tax year 2008. Shouldn’t the 1099C have been filed for tax year 2007 since the settlement occurred in July of 2007? What should I do?
Your best bet here it to consult a tax professional, but you [...]

I am trying to complete my income taxes and I had a foreclosure in 2008. The Lender was Countrywide. I never received any paperwork from Countrywide stating the debt was forgiven. Does Countrywide report a 1099-C and why haven’t I received a copy yet? Seeing as through Countrywide is the worse [...]

Heres how I would eliminate it, any suggestions?
1. Don’t pay the debt! Tell them screw off! We seldom get repayed.
2. Eliminate the Space program, we can’t take care of our country, let private industry handle it if they want.
3.Bill Iraq for the costs of their "liberation and occupation" we could take it in oil!
4. Bill [...]