April 10th, 2011
Many years ago I found myself in a tough situation. I owed the IRS for 2 years of unpaidself-employment income taxes. I had some medical problems and was unemployed part of the time. The rest of the time I just wasn’t making much money at all. The IRS was hounding me all the time for the money, but I just didn’t have it.
Sometimes, we just have to do what we have to do to get by. I am sure a lot of you can relate to that. So I wanted to share some information with you that I learned while going through that time.
If you are in a situation like I was… no money and you owe taxes… the IRS does have options. The IRS can work out a payment plan for you if you request it. If… Read the rest...
Tags: back taxes, currently non-collectible status, currently uncollectible status, federal tax repayment options, federal taxes owed, IRS tax lien, Offer In Compromise, OIC
Posted in Taxes | 5 Comments »
April 9th, 2011
My divorce was finally official this week. We both agreed to have my husband (spouse) keep the home. I have not signed my interest in the home over yet (waiting on my lawyer). In the divorce decree it states that I transfer all interest and rights to the home to my ex-husband. It also says specifically that he will assume all responsibility for the IRS First Time Home Buyer Credit repayment.
According to the IRS, he will not have to pay that money back to the IRS unless he moves or sells the home. Then he will have to pay the full $8,000 back.
I want to give some advice regarding divorce and the First Time Homebuyer Tax Credit. If you are thinking of divorce, it is best for both of you to stay in the home until the divorce is… Read the rest...
Tags: divorce and first time home buyer tax credit, first time home buyer, first time home buyer tax credit, first time home buyer tax credit repayment, first time homebuyer tax credit
Posted in Buying Our First Home, Housing, Taxes | 1 Comment »
April 9th, 2011
I wanted to put this out here in addition to the blog I posted earlier about Equifax lowering my credit score every time I submit a dispute. You can find that post here:
http://www.newworld.ws/blog/2011/03/23/equifax-will-lower-your-credit-score-when-you-submit-a-dispute/
I monitor the traffic to my website and monitor the search terms people use to find my website. I see that a lot of other people have also been searching for information regarding Equifax credit scores dropping while a credit item is being disputed on their credit report. So if you happen to find this blog and the same thing happened to you, will you please share your experience here or in the other post (link above). I would really like to know if this is happening to a lot of people. If it is and everyone shares their experiences, maybe we can do something… Read the rest...
Tags: credit bureau, credit report, credit reporting agency, credit score, Equifax, Experian, TransUnion, unfair credit reporting, unfair credit scoring
Posted in Consumer Credit | 28 Comments »
