Old Tax Liens?

Every year, you are allowed to pull your credit report from all three credit agencies.

I did this, and found a federal tax lien from 1991, for over 5000$.

I feel this has surely pulled my credit score down.

This tax lien was due to a business my husband had at the time and filing a joint tax return. I know for a fact that the IRS has been paid all money due to them, because we have gotten refunds in later years.

What should I do, and is there any action I could take for messing up my credit for all those years?

Old Tax Liens?

The IRS will issue a certificate showing that the obligation has been paid in full which you can file in the county that the lien was recorded in. There is no action that you can take against the Government for recording a federal tax lien for taxes legitimately owed.

Old Tax Liens?

If the tax was fully paid you have to formally request IRS to remove the lien.

If they already have removed it, then you have to request the credit report be corrected/updated.

Then general reporting rule for bad info on your report is 7 years and for good info is 10

How can I/my father claim the Hope or Lifetime Learning credit if he already did his taxes and he ca

A tuition statement for me (form 1098-T) was sent to my grandma%26#039;s house where my father and I stay, but I am staying on campus right now so I did not get it. My father got it and he was going to take it with him when he went to have his taxes done at the library, but he misplaced it and so he could not take it with him. But he found it again after he already had his taxes done. So I just want to know if/how he or I could claim the Hope/Lifetime Learning credit based on form 1098-T now(if eligible) since he has already had his taxes done. Note that my father and I are both unemployed and I recieve no income, but he recieves about $700/month from retirement.

How can I/my father claim the Hope or Lifetime Learning credit if he already did his taxes and he can claim m?

This credit is used to lower your taxable income, resulting in less taxes owed. Its not a reimbursment. Your father can file an amended return (1040X) and claim this credit (if he can indeed claim you as a dependent). It could mean a larger refund, or owing less in taxes.

Good luck.

How can I/my father claim the Hope or Lifetime Learning credit if he already did his taxes and he can claim m?

If he has allready done his taxes,he can file a 1040x adendum. But did your father have a tax liability? IF he did then file the 1040x, if he did not have a tax liability, then dont bother filing.

How can I/my father claim the Hope or Lifetime Learning credit if he already did his taxes and he can claim m?

Yes you can amend your 2007 and 2006 returns. Either call the IRS for more details or go to http://www.irs.gov and get the forms 1040X for 07 and 06 and refile them. Yes, the IRS will give you another check if they owe it to you (or your father) for both of the years if you were eligible for the credits.

How can I/my father claim the Hope or Lifetime Learning credit if he already did his taxes and he can claim m?

If you are his dependent, he can claim the credit but you can%26#039;t. He could file an amended return and claim it.

But an education credit only has any benefit if the person claiming it owes taxes, so if he doesn%26#039;t have any tax liability for the year, he woudn%26#039;t get anything from the credit. He doesn%26#039;t have enough income to owe any tax so wouldn%26#039;t get anything from the credit. An education credit can reduce a person%26#039;s tax - but since his tax is already zero there%26#039;s nothing to reduce.

If last year he couldn%26#039;t claim you, so you could claim yourself, and you paid tax (didn%26#039;t get it all back) then YOU could file an amended return and claim the credit for that year. But it doesn%26#039;t mean you get $2000. The most you could get is the amount of tax you paid and didn%26#039;t get refunded, if any - if you weren%26#039;t employed last year either, then no there%26#039;s nothing to claim

Overdue property tax from 2005, what's up with this?

Just received notification of property taxes from the year I purchased my home, 2005. Turns out that during closing I was issued a credit to pay for taxes due for original owners. First home, first closing, first property taxes. Did not receive a bill for taxes in 2006. Received in 2007 a bill for 2006 taxes, no mention of overdue taxes. Received last weekend a notice that if I didn%26#039;t pay for delinquent taxes by Oct 3, 2007, my house would be up for tax sale. Oddly enough, previous owner%26#039;s name on tax bill, had been whited out, then my name typed over previous owner.

When I went to pay the bill I asked why I had to pay delinquent charges, though I%26#039;d never received a billing. Was told that it wasn%26#039;t the responsibility of the treasurer%26#039;s office to find the taxpayer (since they sent me this years taxes I don%26#039;t think this was an issue!!), it was the homeowner%26#039;s responsibility to ask if they didn%26#039;t receive their bill. Does this sound like CYA to you?

Overdue property tax from 2005, what%26#039;s up with this?

Pay your bill and then go after the escrow company..seems they failed to file the paper work properly to show the proper change of ownership.

Overdue property tax from 2005, what%26#039;s up with this?

CYA no. It sounds like your closing agent didn%26#039;t do their job but now it%26#039;s up to you. Pay the taxes. You received the money for this.

And next time if you do not receive a bill, take a drive to the assessor%26#039;s office.

Should I pay my first installment for my taxes off with my credit card?

My installment is due on Dec 10th and i just don%26#039;t have all the money for the payment and the county will not accept a partial payment. Not to metion that anything after the the 1oth will be 10% increase. The payment is roughly 1125 and my limit is 1300 will this also bring my credit score down if I try and have it paid in six months.

Should I pay my first installment for my taxes off with my credit card?

I paid my property taxes with a check (from the credit card company) at a 5.9% rate. I didn%26#039;t have $1900 for mine and the $35 fee is less than the 10% I would have been charged.

If you have some of the money, you can use your credit card and pay that which you do have right away to the credit card company. IE- pay $1100 on credit card and mail $500 to the credit card company. This will help you get the balance down and not incur as much finance charge.

Don%26#039;t forget you have another property tax bill due again on April 10, so if you don%26#039;t have the first part paid off by then, you will be really behind.

You might consider having an impound done so you are sure you have the money already set aside in the future.

Should I pay my first installment for my taxes off with my credit card?

With years and years in the credit business:

If you charge this, it will affect your credit scores because it will show one card with a high balance to limit ratio. (86%)

However, usually the type of person who asks this kind of question (in my experience) is the type of person who has a 750 or higher credit score. That said, your score will barely feel a bump.

Also, an importantly, credit scores are based on the moment they are pulled. If, in 6 months, it is paid off your credit will be right back to where it is today.

You%26#039;ll need to weigh the cost of credit against the fee and what you have to pay. But I imagine you%26#039;ve already done that.

Best of luck!

I own house need money to pay taxes will bank loan money with little credit?

divorced male little or no credit need money to pay off taxes. only have property to use as good faith.

I own house need money to pay taxes will bank loan money with little credit?

If you are talking about income taxes you can arrange to make payment to the IRS. They do not do credit checks and the interest is likely less than a bank if you have poor credit. You can learn about this at IRS.gov

I own house need money to pay taxes will bank loan money with little credit?

YES.. the bank will loan you money against the equity you have in your house. It would help if you have a job though ...so the bank knows it will get its money back.

For those who cannot resolve their tax debt immediately an installment agreement can be a reasonable payment option. Installment agreements allow for the full payment of the tax debt in smaller, more manageable amounts.

To be eligible for an installment agreement, you must have filed all required tax returns and paid your estimated tax payments if required.

good luck ...see link below..

I own house need money to pay taxes will bank loan money with little credit?

Yes the bank should loan you the money.

If you bought something with a credit card, could you claim it on your taxes?

I purchased a laptop from Dell last year with my Dell Preferred credit card. I would like to write the laptop off on my taxes, because I am a part-time graduate student that take classes online. Could I claim it on my taxes if I purchased it with a credit card?

If you bought something with a credit card, could you claim it on your taxes?

Education expenses are normally deducted as a miscellaneous itemized deduction subject to 2% of your adjusted gross income (you can only deduct the amount in excess of 2%). However, the education expense has to be related to your current job, either as a requirement of your job, or to enable you to advance in your current position. Education expenses are normally NOT deductible if it is related to finding a new job, and in your case, education towards a %26quot;first%26quot; job. Therefore, in your situation, you wouldn%26#039;t be able to claim your laptop computer as a deduction.

However, there are the education credits such as the Hope Credit and/or the Lifetime Learning Credit. This is a credit that you can claim for education expenses such as tuition, books, etc. There are limits as to the amount of the credit, which would typically be used up just from claiming tuition, so applying the laptop computer towards your education expenses for these credits most likely wouldn%26#039;t benefit you at all.

To address your question as to whether you could claim the purchase even though it was made with a credit card.....as far as the IRS is concerned, they don%26#039;t care whether you paid for the computer with cash, credit card, or even redeemed soda cans. You would be able to deduct/credit it provided it would be considered a valid education expense.

If you bought something with a credit card, could you claim it on your taxes?

Absolutely. Just have a receipt in case of audit.

If you bought something with a credit card, could you claim it on your taxes?

You bet! If you%26#039;ve got the receipt then you can claim it. The tax department doesn%26#039;t care how you paid for something just when you bought it.

If you bought something with a credit card, could you claim it on your taxes?

Fed does allow you to deduct any education related expenses (up to a maximum). This is tuition, fees, books, pencils, and computers, though they don%26#039;t count any room %26amp; board.

You have the option of filing it out as a deduction (where you deduct it from AGI and calculate your tax afterward) or you can take the lifetime learning credit (where they give a break on the actual final tax amount that you owe). The limit on the deduction is $4,000. The credit is a calculation based on many factors.

The state regulations vary.

If you bought something with a credit card, could you claim it on your taxes?

yes you can jsut keep that reciept for 3 yrs in case they ask for proof.

If you bought something with a credit card, could you claim it on your taxes?

There are multiple parts to the answer.

As far as the credit card, the date you buy an item and charge it to your credit card is the date recognized for tax purposes, not when you pay it off.

The second part is, what educational expenses are eligible for an education credit. Tuition, and certain related expenses that are required for enrollment or attendance at an eligible institution, are the expenses that qualify. Unless the school specified that you MUST have a laptop, AND MUST buy it from the school, then you would not be able to deduct it. The only way it would be deductible is basically if a laptop purchase is part of the tuition or fees for taking the course. Read the section of IRS Publication on 17 on %26quot;Qualified Education Expenses%26quot;, or Publication 970, %26quot;Tax Benefits for Education%26quot;. From Pub 970, %26quot;Tax Benefits for Education%26quot;, .pages 19 and 33, %26quot;student activity fees and expenses for course-related books, supplies and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance.

So no, you can%26#039;t take an education credit for the laptop purchase, but that has nothing to do with purchasing it with a credit card.

It is possible to deduct work-related education if you itemize. The requirements for this are very specific (see Pub 17) and you and your new laptop would very likely not qualify to take this. Check out the rules though.

Is capitalism/credit going to be the downfall of the Empire of the United States?

Let me elaborate - Though the capitalism/credit question may imply more than just one question, it is essentially related in the fact that credit is a byproduct of capitalism. As capitalism began, it was simply the pursuit of happiness. What one could dream one could essentially create and capitalize on. As it went further, people began to want what was created now instead of save for it. Because of this, credit was created. As credit is essentially a tax on the future earnings of one%26#039;s labor, this begins to make people slaves to working. With the recent borrowing rates at record lows, this causes a huge leverage opportunity which has been taken advantage of to the max, even by our own government. Will this tax on the future earnings of the U.S. as measured by the GDP put us into the position of an individual who seeks bancruptcy protection? I understand the government can simply raise taxes, but at what cost? The GDP? How about Inflation? Any thoughts on this subject would be great!

Is capitalism/credit going to be the downfall of the Empire of the United States?

The credit bubble and inflation have nothing to do with Capitalism. The Federal Reserve, the cause of those problems, is a Socialistic counterfeiting Government-run Banking Cartel that prints worthless pieces of paper for 3 cents.

You should watch Money, Banking, and the Federal Reserve, so that you actually understand what the root of the problem is.

http://video.google.com/url?docid=-46621...

Presidential candidate Ron Paul is currently running against this scam and for the restoration of Capitalism instead of Corporatism in America, not to mention the reinstatement of the Constitution.

http://ronpaul2008.com

Is capitalism/credit going to be the downfall of the Empire of the United States?

Leveraging can swing either way. I use it to my advantage. If I borrow money, it%26#039;s for a purchase that is going to make me money. A multi unit piece of real estate, for example. Or maybe for a tool that I need for business.

In any case, I would have made less money if I didn%26#039;t borrow any.

Now it%26#039;s a dangerous thing to those who are using it the wrong way. Living outside of their means. The biggest problem is that public school doesn%26#039;t teach anyone about these things. I believe it%26#039;s by design, though. As you said, they become slaves to working. I call these people wage slaves. The problem is that they simply don%26#039;t know any better... and, well, that%26#039;s how the rich like it. Cheap, uninformed work force that%26#039;ll do anything for that paycheck.

Take a look at this piece of writing, pretty accurate.

http://www.raceandhistory.com/historical...

As far as it causing the downfall, nah, I don%26#039;t think it will destroy everything. But I do believe the credit market will burst at some point. It%26#039;s already to the point where the middle class is paying more credit bills than their income. The sub prime lending market already crashed. I bet it will be back, though. It%26#039;s like a wave going up and down on the shore. Sometimes it%26#039;s bigger. But, in any case, it comes and goes.

Is capitalism/credit going to be the downfall of the Empire of the United States?

imo, the USA is in a precarious position because un backed American dollars are stimulating economic growth in foreign countries, China especially.

There are WAY too many U. S. dollars in circulation . If this was just a problem in America the FED could simply contract the money supply. But it isn%26#039;t confined to America. The question is how many dollars can circulate around the world before they start to lose value.......Which in turn would cause countries to trade dollars for something of lasting value.

Watch for Gold to appreciate in price!

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