Nov 12

Q&A: After an audit , I owe almost $50 K in taxes . How long will the IRS give me to pay this?

Question by Asbms18: After an audit , I owe almost K in taxes . How long will the IRS give me to pay this?
Is there any truths to the advertisements, promising to just “pay pennies on the dollar”? Will bankruptcy eliminate tax debt?

Best answer:

Answer by Wayne Z
The “settle your taxes for less” firms are all scams. They charge you thousands of dollars in fees and, at the end of it all, you still owe the tax bill (plus more interest).

The IRS does have a process called an “Offer in Compromise” where you can settle your debts for less. However, the IRS rejects about 85% of offers. You have to be able to prove that you have minimal income and, even if you sold every thing you own, you couldn’t pay the tax bill.

Bankruptcy can sometimes eliminate tax debt however the debt must be at least 3 years old.

Give your answer to this question below!

Nov 12

Employing Hope from

Employing Hope from

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Six Voices~~** Watch for your favorite business, spiritual and educational titles to appear as Tapstacks from Six Voices at **Employing Hope from Biblica.comIn today’s challenging economy, jobs are eliminated. Companies downsize or close down. New qualifications are demanded. Credit-card issuers play even firmer hardball. Personal debt load, mushrooming even before this latest financial crisis, is now unbearable for many people. Individuals and families bear heavy burdens.Do you feel a bit hopeless and overwhelmed? Frustrated? Do you feel angry? Lost and confused? Rejected? Useless? And maybe even a bit depressed? Whatever your economic situation may be, and how well you and your loved ones are dealing with it, there is hope.This iPhone app addresses an aspect of unemployment and underemployment that are often overlooked—spirituality. Through the Bible’s timeless wisdom——and the experiences and teachings of real people in the Bible who also faced joys and heartaches—you have an opportunity to think about key issues and receive practical encouragement.Each page includes an interaction with a biblical passage, questions for personal reflection, specific career and financial points to ponder, and then some practical tips to address your situation. We recommend engaging one reading a day, giving each set of issues time to really sink in. Keeping a journal as you go will help you clarify your thoughts, reactions, and the action steps you commit to along the way.Are there “easy answers” to your current situation? Probably not. Decisions we make, or those that other people make that affect us, have consequences. But no matter how you may be feeling and responding right now, you can rebuild life on a firm foundation—the love and truth of God.About TapstackSix Voices’ Tapstack format offers a unique and surprisingly fun way to explore your favorite books. By distilling them down to a selection of engaging “cards” like only the iPhone could provide, Tapst

Price: $ 0.00
Sold by Apple iTunes

Nov 12

Latest Government Debt Relief News

Federal government reopens following debt deal; world markets express relief
ROCKSIDE_PED_BRIDGE_NPSPHOTO_15321201.JPG The Rockside Road pedestrian bridge in Independence, which the Cuyahoga Valley National Park dedicated Aug. 28, 2013, is once again accessible for use by patrons as national parks reopen today …

Read more on Plain Dealer

Relief sounds with votes to end government shutdown, avert debt crisis
So most in the delegation greeted the votes Wednesday night to end the 16-day government shutdown and forestall a debt crisis with a sigh of relief and a measure of hope that lessons had been learned. “It was such a relief after what we've been through …


Iceland prime minister floats debt-relief plan
Prime Minister Sigmundur Gunnlaugsson plans to release a proposal on providing debt relief to households later this month. A government-appointed committee is working on how to implement a reduction of household debt "due to a spike in inflation in …
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Read more on Irish Independent

Medical Debt Relief Act Impasse Hindering Homeownership?
While many are (rightly) concerned with the government shutdown, there was one issue that was brought to our attention by an industry insider that has since gone unheralded in the media. That issue is the Medical Debt Relief Act. The Medical Debt …

Read more on National Mortgage Professional Magazine

Nov 12

What Is A Debt Consolidation Loan

What Is A Debt Consolidation Loan

Article by Craig Thornburrow

Debt consolidation loans are an increasingly popular form of debt re-payment for those who find themselves unable to pay off even the minimum payments on credit cards every month.

What is Debt Consolidation?

Everyone knows what debt is; it’s the amount of bills that are left over at the end of every month after you’ve paid everything you can. For some of us, that number is a significant one. It seems that you will never be able to pay it off – especially as new bills add to it every month.

Debt consolidation is when you take all of these bills and add them together to create one big bill. This new, big bill is your consolidated debt. When you consolidate your debt, you will generally stop adding to the debt total with interest charges and, most likely, you will be able to negotiate a lower bill total with each individual creditor. They would rather get, for example, half of what you owe them than nothing at all. Debt consolidation benefits everyone involved.

What Is A Debt Consolidation Loan?

A debt consolidation loan is exactly what it sounds like – a loan that you take out to pay off the total of your consolidated debt. After you have combined all your debt into one sum total, negotiated with the creditors to lower that total and knock off the interest charges, you will come up with one monthly payment that makes sense. Sometimes, this monthly payment is still too large a chunk to handle, especially as costs associated with living continue to pile up everyday. The solution to this problem is a debt consolidation loan.

With a debt consolidation loan, you can pay off your entire debt with one big payment then create a smaller, more manageable payment plan with the company who gave you the loan. This loan payment will have interest charges built in and will most likely take much longer to pay off than if you simply paid off your consolidated debt. The benefit is that your monthly payment will be something that you will actually be able to pay rather than one more bill that will end up in the ‘unpaid’ pile each month.

Check out your options thoroughly before choosing a debt consolidation loan provider. Make sure you get the best rate possible. Just like a credit card, it’s important to check out the fine print before you sign up for any debt consolidation loan.

About the Author

Craig Thornburrow is an Author and Business Owner. You can find out much more about Debt Consolidation Loans at

Nov 12

Businesses, help ease student debts

Businesses, help ease student debts
News stories and headlines paint a dire picture of the financial futures of young Americans who are graduating from college with substantial debt. While a certain percentage of students will graduate with little or no debt, student loans have surpassed …


Consolidated Credit Reveals Shocking Method Used by Debt Assistance
The shocking method used by debt assistance companies to get customers was revealed by Consolidated Credit. The website will also provide individuals all the vital information about credit consolidation and how individuals can get out of debt fast.

Read more on SBWire (press release)

ANCYL asks for help after debt ruling
We call upon progressive people to make a financial contribution towards this debt so we can save the ANCYL of Nelson Mandela.” He added that the ANCYL's former leaders, including presidents and treasurers, have been roped in to help get it out of its …
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Read more on Independent Online

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