Finance, Loan, Debt and Credit.

February 10, 2018

What To Do Before the October 15th Tax Extension Deadline if You Need Tax Help for Unfiled Tax Returns or IRS Back Taxes

Filed under: Tax — Tags: , , , , , , , , , , , — admin @ 12:50 pm

If you filed for an extension to file your tax returns in April, your taxes must be filed by October 15. The worst thing in the world you can do is not file your income tax return on time because you don’t have money to pay what’s owed!  Here’s what you need to do, if this is your situation: File your tax return on or before October 15th and send it in with a money order or cashier’s check for $10.00.  This will ensure two hugely important things:

1.) It will take the IRS’s power away to assess a 25% failure to file penalty away, and 2.) it will create a computerized record at IRS that you filed on time and made a good faith and credible effort to pay something.

So those of your who have been procrastinating better wake up! And for anyone who can’t afford to pay your taxes come April 15th or October 15 – know that you’re not alone.  It’s a common problem and a lot of people end up in tax trouble because they don’t file their tax returns on time even with an extension because they don’t have the money to pay.

Here’s what you can do before the October 15 tax extension deadline if you have unfiled tax returns or IRS debt from back taxes:

•    Get a good tax attorney or tax resolution specialist. You are in dangerous waters here where only an expert tax resolution specialist or tax attorney can help you. To get the back taxes help you need, contact a tax attorney or tax resolution specialist. They are on your side. The IRS is not.•    You need a sense of urgency. If you haven’t filed your tax return before the April 15th deadline, you need to file for an extension using Tax Form 4868, Application for Automatic Extension of Time To File U.S. Income Tax Return. Not filing your taxes is the worst thing you can do because you can incur a 25% failure to file penalty right off the top.  Failure to file tax returns may be construed as a criminal act by the IRS, punishable by one year in jail and $10,000 for each year not filed.If you haven’t filed for this year, even after April 15th tax deadline you can still file for a tax extension using tax form 4868. A tax extension provides tax help because it can stop the “failure to file” penalty clock before it reaches the maximum. Get tax help from a tax attorney or tax resolution specialist if you’re tempted to file for October 15th tax extension after the April 15th deadline has passed. Only a tax attorney or tax resolution specialist can give you the tax help you need.•    You need to whip out your checkbook, even if you can only pay $5. The bad news is that even taxpayers who received a tax extension for filing are not granted more time for the payment of taxes owed and may need income tax relief.If you fail to pay your back taxes due, you will incur additional penalties for “failure to pay”. Any tax attorney will tell you that to avoid back tax penalties and interest, ideally you should pay 90% of your estimated taxes when you file your tax form 4868 on April 15th. To avoid additional back tax penalties, taxpayers should file by the deadline and pay as much as they can. You will still have a failure to pay penalty, but it’s much less.Our tax attorneys tell our tax relief clients that no matter how much is owed, if they enclose a check for $5 or $10 for back taxes with the return and file it on time, that’s going to give them tax help instantly because: 1) Filing cuts down on the failure to file penalty, so you take that 25% penalty off the table.

2) Writing a check for your back taxes creates a record at IRS that says you actually filed on time and they have to post that $5 or $10 back taxes check to your account.  •   You need to discover quickly whether you owe the IRS more back taxes or you’re due for a refund. If you overestimated your back taxes in April and paid the IRS too much, then you’ll get a tax refund as soon as you file your full 1040 tax return, hopefully long before the October 15th tax extension deadline.•   You may need tax software to discover your IRS debt from back taxes. By October all those discounted tax software boxes offering tax help will be long gone. A tax attorney and tax resolution specialist will have the software you need going back a decade to calculate both state and federal taxes. If you owe back taxes for more than one year, a good tax attorney or tax resolution specialist may be your only shot at getting the tax help you need. •   You need to get your paperwork in order. Filing an October 15th tax extension means you have more time to collect the final paperwork you need. If you have been the victim of a financial crime, a good tax attorney can go back and file amended returns that can drastically improve your back taxes problem. •    You need to act quickly or the IRS will. If you don’t file a tax return by the October 15th tax extension deadline, the IRS may file one for you. If you don’t get tax help from a tax attorney, the IRS may prepare a “Substitute For Return” for delinquent taxpayers. It’s important to file a tax return as well as any prior delinquent tax returns as soon as possible to save money and avoid significant long-term consequences. Get professional tax help from tax attorney so that you get all the tax relief you’re allowed. •   If you owe back taxes for more than one year, all your prior tax returns must be filed to be eligible for income tax relief. All back tax returns must be filed before the IRS will entertain any type of tax settlement.•    You need to realize that this is your last chance. Can you file for an extension past the October 15th tax deadline extension? Not a chance. The IRS will occasionally extend an extension beyond October 15th for a class of people who have suffered a natural disaster. If your home wasn’t destroyed by a hurricane, then your chances of getting a tax extension beyond October 15th are about the same as winning the lottery. The good news is that with an experienced and professional tax attorney or tax resolution specialist, you have a real hope of resolving your back taxes and IRS problems if you act now. I believe there’s tax help for every problem. For a delinquent taxpayer, it’s never too late to resolve your tax debt and avoid IRS penalties. For more information on achieving a tax resolution for your unfiled tax returns or back taxes, visit for a free tax relief consultation or call 866-IRS-PROBLEMS.

Michael Rozbruch is one of the nation’s leading tax experts. A Certified Tax Resolution Specialist (CTRS), licensed CPA and the founder of Tax Resolution Services. He helps individuals and small businesses solve their IRS problems and is dedicated to educating the public on tax planning and other strategies for managing their personal and business finances.

January 17, 2018

Do You Need to Resort to Bad Credit Home Refinance Loans?

Filed under: Loan — Tags: , , , , , , , — admin @ 12:46 pm

When you are stuck in a situation when you think that you need to resort to bad credit home refinance loans, you may have to think twice before jumping. Choosing a refinancing scheme may offer you seemingly better options in terms of interest rates and loan payback terms, but are you really looking at the bigger picture? Sometimes it is best to take your time, do the proper investigation, and research into what they are really offering.

Sometimes the benefits will seem great, but if you do the actual math, you will find that you are spending more on refinancing rather than just sticking to your original loan. Before signing that big YES on the loan contract, please do hesitate and give the terms a second look. If the new loan terms offer a lower interest rate than the one you currently receive, then you probably think that it is worth the big step. However, it has become a general rule of thumb for many financial advisors to avoid a lower interest loan unless the difference in the new loan interest rate and the old loan interest rate is at least two percent. Anything that is lower than two percent may not be worth the switch to the new loan that only seems beneficial at first glance.

Another perceived benefit that people have of resorting to bad credit home refinancing is that the monthly payments will be much less. However, this is usually coupled with factor that may make you spend more rather than less at the end of the repayment term. Even if your monthly payments go down by 15 percent, it may end up that your loan term may increase by 5 to 10 years as well. Be aware of the reasons why monthly payments go down if you apply because there is usually a downside to that advantage.

At the end of it all, what you really need to do is to read up and inquire about the different bad credit home refinance loans that are available at banks or lending firms. With complete information on average percentage rate, loan term, and deposit requirement, it may end up that you will not need a refinancing option after all. Measure the difference in what you will pay at the end of the loan term and make conservation projections. This way you can be sure to decline or accept the refinance scheme through relevant and reliable information that will guide you.

Maybe opting to get a Bad Credit Home Refinance will only put you deeper in debt rather than freeing you of it. Read more about how bad credit home refinancing works by checking out

November 29, 2017

Debt Consolidation Agents Need to be Supervised

Debt consolidation is a complex process and the aid of professionals is almost always needed. However, it is smart not to confide too much on the consolidation agents and keep an eye on whatever they do with your debt. A proper supervision of their work can save you a lot of trouble and probably money too.

As with any financial product, debt consolidation is provided by many different agents. The debt consolidation market is packed with different consolidation agencies offering their services to anyone who needs them. However, there are also unscrupulous agents and agents that though are legit, are just beginning to work on the field and their expertise is not that promising.

What Debt Consolidation Agents Do

There are different debt consolidation programs and a wide variety of actions that debt consolidation agents can do in order to reduce the amount of debt you hold and the weight of that debt in terms of interests and monthly payments. All these actions have consequences and you should discuss them with your agent in order to avoid future problems.

Among the things that debt consolidation agents can do are the following actions: negotiating with your creditors new repayment programs, debt cancellations, reductions, interest eliminations and reductions, closing accounts, opening new accounts, transferring balances, taking up loans to repay debt, etc.

All the above have serious implications in your credit and can reduce or eliminate your ability to get finance during the consolidation process and later too. Thus, you should make the agent well aware of your financial needs prior to him starting the debt consolidation program. Whether he takes full control of your finances or not, his actions will irremediably have consequences that you need to consider.

Debt Negotiation, Reductions And Cancellations

When a debt consolidation agent negotiates with your creditors he can modify the variables of your debts. But these modifications will have immediate consequences on your credit. A repayment program extension will modify your income to debt ratio not only on the current loan years but on the years added too. Besides, the lenders may decide to inform that their debt has been subject to negotiation to the credit bureaus which will trigger an alarm on most lenders in the future when they read your credit report.

Opening And Closing Accounts

Both opening and closing accounts do not have to carry consequences to your credit provided that are done moderately. But if you suddenly close all but one of your many accounts, your credit will undoubtedly reflect this fact and not precisely in a positive way. Any report that shows lenders that you have been included in a debt consolidation program will scare them away if you want to get finance in the near future.

Transferring Balances And Taking Up Loans

To consolidate debt you can transfer credit card debt to other low interest cards or take a loan to consolidate all your debt into a single monthly payment. If a loan is taken, your debt will increase, because although the balances will be paid, on your report, the credit cards will remain as outstanding credit. And if your credit cards are cancelled and the accounts closed, that will also be reported and will show up on your credit report.

Thus, you should expect low chances of getting approved for new loans in the near future if you plan to consolidate your debt. However, that is probably the whole idea of debt consolidation: To avoid new debt and eliminate progressively your current debt so you can become debt free and your credit score starts to recover.

Melissa Kellett is an expert loan consultant who has worked for twenty years in the financial industry and helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and many other types of loans and financial products. If you want to learn more about Loans for People with Bad Credit History and Unsecured Loans you can visit her site

November 24, 2017

Debt Consolidation – What You Need to Know!

Filed under: Debt — Tags: , , , , , — admin @ 12:47 am

The first step to dealing with your debts is admitting that you have got a problem. Only then can consolidating debt be the solution to your debt problems.Debt Consolidation can happen in a number of ways, the most common are through either a debt consolidation loan or through a no loan consolidation.Lets looks at the two ways for consolidating debt in more detail:1: Debt Consolidation Loan – Allows you to consolidate your existing unsecured debt into one single loan. Choosing a debt consolidation loan for consolidating your debt can reduce your monthly payments, lower your interest rate and make it easier for you to manage your debt.Debt Consolidation Loans are usually secured against your home, but this will offer you a number of additional debt consolidation terms which you just could not get with unsecured consolidation.2: No Loans Consolidation – A secured loan is not suitable for everybody, but there ways to consolidate debt without the need for any further loans. These are otherwise known as Debt Management Plans and allow you to make just one reduced payment to your debts, no matter how many unsecured creditors you have.Remember, you can consolidate a number of debts choosing the above methods, such as credit cards, store cards, unsecured loans and overdrafts.Discover more about what YOU need to know about debt consolidation, see the following recommended reading:

Advantages and Disadvantages of Debt Consolidation. The only way for you to understand debt consolidation is to be aware of both the advantages and disadvantages of consolidating debt.

Struggling with debt consolidation? We can offer you free advice to find the perfect way for you to consolidate your debt so you can manage your fiances with ease. Discover the advantages and disadvantages of debt consolidation.

October 2, 2017

Why You May Need To Opt For Credit Card Settlement

Filed under: Credit — Tags: , , , , , , — admin @ 12:49 pm

Debts accrued through the use of credit cards are normally not very easy to clear, especially if you have failing financial records. If the balances are getting overwhelming and you do not know what to do with them anymore, you can opt for debt settlement. This means that you can negotiate with your lenders to have them cut off some part of the debt and allow you to pay a lesser amount as though that is actually what you owed.Many lenders will be more than willing to forgive your debts, but only if you can convince them that your finances are really in a critical condition. If you succeed doing so, there are benefits you stand to derive from the arrangement. The first one is that you are bound to escape bankruptcy. Once the credit card settlement process has kicked off, you will be sure that what is left for you to pay up is minimal and you can always find a way out of the debt. Filing for bankruptcy means that you could lose your home and other property while settlement leaves all of them intact, not unless yours is a secured card which you are now unable to pay for. Now, the next benefit is that, you will be liable for a singe payment each month, which will be done through the settlement company. What this means to you is that, you will not have to deal with a multiplicity of lenders. The money will be accumulated in a special trust account and then will be divided among your lenders after negotiations. Credit card settlement relieves you from the pressure associated with the harassment calls that are bound to be characteristic of your lenders as they try to recoup what you owe them.

Peter Gitundu Creates Interesting And Thought Provoking Content on Finance. For More Information On How To Manage Credit, Read More Of His Articles Here CREDIT CARD SETTLEMENT If You Enjoyed This Article, Make Sure You SUBSCRIBE TO MY RSS FEED!

September 25, 2017

Do You Need a Mortgage Refinance Loan?

Filed under: Loan — Tags: , , , , , , , — admin @ 12:48 pm

If your interest rate is higher than normal, it is a good idea to refinance your loan. A lower interest rate can make your monthly payment lower and easier to manage. If you are having financial difficulties, this can be especially helpful. If your finances are pretty steady, then you may be able to get a shorter-term loan when you refinance so your loan will be paid off much sooner. This is great if you are planning to stay in your home for the rest of your life or for longer than the length of the loan. If you are planning to move within ten years, then a shorter-term loan will most likely not be as important to you as a lower payment would be.

If you are in need of some money to pay off credit cards, make needed home repairs, or even to take a vacation, then you might want to consider refinancing your home. You first need to find out if you have any equity built up in your home. Equity is the value of your home versus the amount that you own on your house. Let us say that your home is now worth $125,000 ten years after you purchased it and you owe your lender $95,000. The equity that you have is $30,000. You can borrow up to $125,000 against your home and can use the $30,000 equity for repairs, bills, or anything else. You need to decide if your intended use is worth you refinancing your loan for 15 years or more. The good thing about home loans is that they are tax-deductible in most cases, so this may be a good benefit for you.

Refinancing will mean that in most cases you are starting your payment term all over again. This is something that you need to keep in mind before signing on the dotted line. You need to know all of your options before you decide that this is your only option. Home loan refinancing is a big business and many companies will offer you the moon to get you to refinance. You need to take into account the closing costs and fees of the loan to ensure that it is a right choice for you.


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July 17, 2017

Can A Home Refinance Loan Give You The Cash You Need ?

A Home Refinance loan can take many shapes and forms. There are many options available to suit different goals that a person may have. Just remember that what will work well for some people, will not benefit others.

So before choosing a home refinancing option, read through a quick overview of some of the most popular options available to you. Assess your financial situation and consider what you want to gain from refinancing your home.

Mortgage Refinancing – is basically a second mortgage secured by your home that pays off your original mortgage. Some of the benefits of mortgage refinancing include lowering your monthly repayments, lower interest, or getting some extra cash from the equity of your home by borrowing more than you owe on your original loan.

Reverse Mortgage – is designed for older people who are over 65 and currently own their own home. This type of loan does not require repayments to be made. When the owner of the home either ceases to live or moves out of the home, it is then sold and the outstanding money returned to the bank. Money borrowed from these loans can be paid in lump sums or in regular small payments.

Home Equity Loans – are designed to make money available to you that is tied up in your home’s equity. Usually a home equity will provide you with a one-time payment of cash. Equity loans are ideal for those who want to improve their homes, pay off credit card debts, fund a Children College education or have a set sum of money they want to borrow from their homes equity.

Home Equity Credit Lines – are like a second lien on your home that allows you flexibility to access cash, as you need it, and make principal repayments as you choose. Home equity lines of credit (HELOC) are different than normal home equity loans that usually only give you a one time payment for fixed budgeted projects.

5 Main Reasons Why People Refinance Their Homes:

Home refinancing is an option for many people that will allow them to pay off their already existing loan with money from a new loan. The new home refinancing loan will be secured by the same property, your family home. There are many reasons why people choose to refinance their home, as well as many different refinancing options available to choose from.

So before choosing a home refinancing loan, you will need to carefully consider the type of housing loan that you currently have and your own unique financial situation. Below are some of the different reasons why you may choose to refinance your home.

1. Refinance From ARM Loan To A Fixed Rate Mortgage

An ARM loan, or adjustable rate mortgage, has interest rates that are adjusted to suit the economy or current markets. While an ARM loan can be a great way to get lower interest rates, they do have the risk of rising much higher. Often, people choose to refinance their homes based on current market trends, if interest rates are likely to change in the near future to a rate that is higher than a fixed interest rate loan, refinancing your home to a fixed rate may be the safest option for you.

Another thing you may want to consider when changing from an ARM loan to a fixed rate mortgage is the amount of time that you intend to stay in your home. The rule of thumb is to only refinance to a fixed rate mortgage if you intend to stay in your home for longer than seven years.

2. Switching From A Fixed Rate To An ARM Loan

A fixed rate mortgage gives you a fixed interest rate over the life of your home loan. While this is considered to be the safest option, it is also the most expensive option. If the economy is strong, interest rates on ARM loans will be very low. Often, people choose to refinance their homes to an ARM loan to get lower interest rates, which will lower monthly repayments and save thousands of dollars while repaying the loan.

3. Home Refinancing To Lower Repayments

Even a small percentage drop in your mortgage repayments can quite considerably lower your mortgage repayments. Many people choose to refinance their homes to a new loan that has a lower interest rate to lessen the burden of high repayments.

Another way to lower your monthly installments is to increase the term of your mortgage. For example, if your current mortgage is for 10 years, you will be paying higher payments to get the loan paid off before those 10 years are up. By home refinancing your loan terms to 20 years, your payments will be much lower as you have 10 more years to pay the loan off.

One other way that interest rates can be lowered is to pay interest only repayments. How this loan works is that you are required to pay enough money to cover the interest of your mortgage each month.

Additionally, you can make payments off of the principal of your loan as you please. This option makes your home loan more flexible, especially if you want to take some pressure off of yourself during a difficult situation or when you are trying to pay other debts off.

4. Getting Extra Cash

Often, people choose to refinance their homes to get access to tied up equity in their homes. Equity is the amount of money left over after all of the outstanding debt is covered, such as your existing mortgage. If you are planning to pay off debts, fund a Child’s college education or make improvements to your home, refinancing with an equity mortgage is a great option.

5. Consolidating Debt

Often, when people get into serious amounts of debt, especially credit cards, store cards, personal loans or car finance repayments, the amount of interest that they are paying on these debts makes it almost impossible to repay them.

Consolidation loans funded through your home equity are usually much lower and take the confusion out of paying many different repayments.

Ken Black is the owner of Debt Relief Today, a website all about debt consolidation and Home Refinance Loans.

July 14, 2017

The Student Refinance Loans and Why College Students Need Them?

The process of repaying one or more loans with the help of another loan with low interest rates and longer terms is generally known as refinancing. Student refinance loans are taken to reduce the monthly payment amount. College going youngsters can relax after acquiring consolidation loan amount that settles all their small loan amounts.

Refinance Student Loans

Students go for consolidation of loans for 3 main reasons:

1. Interest Rates: Student loans have varying interest rates. Monthly payments are affected by fluctuating interest rates. Fixed refinance loans are convenient and constant.

2. Convenience: It is easy to handle one simple loan amount than 2 or 3 loan payments every month.

3. Pay off Periods: Standard payoff periods like 15, 20 or 30 years could be chosen by the borrower so that there is no problem in monthly payments.

Students should consider some points before acquiring refinance loans. Many of the college students have private as well as federal loans, and it is advisable to refinance them disjointedly. Otherwise they shall end up paying high interest rates on the joint amount. All federal loans should come under federal refinance loan scheme.

Some Points to Consider

As a student, you have to literally shop around for cheap refinance packages. There are thousands of financial institutions who are reputable and offer competitive price rates. Private refinance consolidators check out on credit ratings of students before offering loan amount. So, it is best to keep a check on your bank credit ratings as a student. However, federal refinance student loan interest rates are subject to change once in a year.

Students can always acquire government student loans, if they do not obtain necessary loan amount from private lending institutions. Government grants like Pell and Stafford help college students to obtain funds for educational studies.

The drawback of consolidation loans is that you end up paying more money due to the longer repayment term period of 20 or more years. Initially, refinance loans may seem to be the best economical solution for less monthly payments, but in the long run it is not a good bargain.

Refinance student loans are sanctioned to students on the basis of their past repayment records. Many finance companies offer consolidation services to college students who have a decent credit record.

Consolidation student loan refinance can make you lose your grace period. Federal refinancing schemes value a grace period; you can scour the internet for more information on grace periods and refinance packages. When interest rates are low, students should exploit the situation and apply for a college loan consolidation. Refinancing rates are usually offered at 1 or 2 percent lower interest rates than the original loan rates.

This article has been written by Amber Smith. It stresses the importance of consolidating existing student loans for convenience in monthly repayments. But, it also points out the disadvantages of acquiring refinance college loan consolidation for its lengthy repayment terms, which can stretch up to 20 to 30 years.

June 2, 2017

Tax Return Outsourcing is Indeed a Friend in Need

Filed under: Tax — Tags: , , , , — admin @ 12:47 am

The tax paying session is one of the most tedious and tiring session that one faces. Being able to pay the tax on time is one of the major headaches that we all face and why not, if we do not pay our tax, then we will be penalized for it. Therefore, it is very important that we pay our tax on time to the government. Well, tax paying is definitely a big thing and when it is so problematic for an individual to pay the tax, one can very well imagine the problems that an organization might have to face while filing tax returns. Therefore, it becomes quite important to prepare for the tax returning session well quite in advance. This helps to avoid all the problems that one might face while paying the tax and trying to file tax return. Well, the US government has made it mandatory to file all tax returns and to pay the tax on time or else people might have to pay a penalty and face strict punishments. However, many people find this entire procedure quite difficult and take the help of tax return outsourcing professionals who are at ease with this work.

There are many firms in the United States that provide tax return outsourcing services to individuals as well as organizations. This service helps people to pay their tax on time and at the same time, with the help of this service, all the preparations are made much before time. With the help of tax return outsourcing service, people can avoid all the problems that they had to face while they had to file their tax return and many more things. The initial procedure that was followed was a lengthy one and people had to wait for hours in long queues to file their tax return. However, now with the introduction of internet, things have become more simplified and eased out.

Now one does not need to wait in long queues to file their tax return. With the help of internet, they can do this while sitting at home or in their office or even a cyber café. The evolution of internet has made life easier for people. Now people can get any information at the click of the mouse and can even file their tax return through the internet. Moreover, the professionals who work in these firms that provide tax return outsourcing services to individuals and firms use various softwares fro their work and use the internet to file the tax return.

Moreover, one can easily rely on these professionals because they know their job accurately and therefore, know what needs to be done and what methods to follow. Moreover, as they are trained professionals, they know how to do accurate calculations and therefore, they are never wrong with their calculations. Therefore, now you can rest, as with these professionals you can solve all your tax return problems. Whether you are an individual or running a firm, now all your tax work can be easily solved with the help of tax return outsourcing services. Therefore, think no more and take the help of this service.

Michelle Barkley is a CPA who advises people on tax preparation and tax calculation.She specializes in Tax return preparation,Tax Return Outsourcing

and Outsourced Accounting.To know more about Accounting outsourcing services and accounting outsourcing in India and to use the services visit

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