The Federal Tax Credits Blog

Archive for the ‘IRS Credit’ Category

Shredder Day at Downers Grove, IL

Question: status of my refund and child tax credit question?

Does the ’status of refund’ on irs.gov ONLY shows the refund amount rather than showing the total amount with the child tax credit and the refund, right? If so, they will send us a check with the child tax credit on top of the refund amount, right?
If I also dont have any tax liabilities. I will still receive the child tax credit and the refund?

Answer: Wrong. Credits, including the child tax credit, are part of the amount of the refund.

Small Business: Tax Credits in Small Business Jobs Act

Question: can you pay your IRS taxes with a credit card?

My husband did not take out enough taxes on a job he had for a couple of months and we will owe at least a thousand on that. Hopefully that’s about all we’ll owe. Can I pay what I owe the IRS on a zero interest credit card? THANKS!

Answer: You can pay with a credit card, but there will be a “convenience fee” of 1.9-2.35%. For more information go to: http://www.irs.gov/efile/article/0,,id=97400,00.html

Small Business: Tax Credits in Small Business Jobs Act (ASL, Captions & Voice Over)

Question: I heard debt settlement is easly with Cread cards BUT?

I know the only I can get a debt settlement with GE Money Bank and Good year tire is if I do not pay my bill for a few mouths. The only problem is that there fees and interest add to my bill which will cause the debt to almost double I settle for 50% I will pay almost what I would paid in first place then They will tell the IRS I made money by settle which will cause me a TAX problem. I also think Straight up default would be better It will go on My Carad report the same and There no Taxes on it since I still owe the money. the Debt is 1100 to GE and 650 to goodyear. Credit counseling says they can not help me because it below the standers.

1. Would I be better to Settle or stright up default

2. What possible of getting sued or repo?

3 would I end up paying more be setteling than making min payment for a while untill I get a head again.

Answer: Note about credit cards:
They never settle for below the amount of purchases you bought on your card.
What they take off is some of the late fees, high interest rates, etc.
You will always come out losing if you settle.
Make that min payment – at least.
You could face being sued by a collection agency if you don’t pay – easily…

Debt Consolidation Options Freedom Debt Relief

Question: Will the tax judgement show as PAID on credit report if the IRS took the money out of my refund?

Will it make a difference in credit score if the money owed was paid by the individual or was removed from a refund.

Since being removed from the refund it is not showing as paid on my credit report. Whom should I contact?

Thanks everyone!

Answer: Makes no difference where the money comes from as long as he amount was enough to pay off the tax judgment it should show as paid with a $0 balance.

Contact the credit bureaus and dispute it should be corrected in about 30-days.

Tax Tips: All About IRS.gov