The Federal Tax Credits Blog

Archive for the ‘Tax Credit Payments’ Category

Question: When will working Tax Credits be paid over christmas?

My payment for working tax credit is paid weekly every Thursday,this means payment will fall on Christmas day.Do you know if it will be paid on the 25th or earlier?

Answer: i rang them and was told they are paid on the 23rd. as mine were due on Christmas day also.

Beyond the scary Christmas list: the full parenting price tag

The parenting price tag has soared to about $220,000 per child. If you think the kids’ Christmas list is hefty, there’s no end in sight to the add-ons involved in the cultivation of kids.

Merrymeeting REALTORS – TV ad – Homes are Affordable – Tax Credits and Lower Mortgage Payments

Question: tax credits payments over christmas 2008?

is christmas eve a bank Holiday? if they are due to clear in your account on th e24th of dec, will you get them early? i rang the help lin and they said people on JSA and income Support will be paid on mon 21 dec, that is if you get paid on the 25 or 26. so what about child tax?. merry christmas. oh yeah im in the uk just in case the best of British ain’t a clue xxx

Answer: If your payment is due to be paid into your account on Thursday 25 December, Friday 26 December or Monday 29 December, it will be paid into your account on Wednesday 24 December instead.

If your payment is due to be paid into your account on Wednesday 31 December 2008, Thursday 1 January or Friday 2 January 2009, it will be paid into your account on Tuesday 30 December 2008 instead.

Hope this helps

London close: Miners get a hammering

LONDON (SHARECAST) – Footsie staved off a triple-digit fall by less than half a point as worries over the situation in Korea and the prospect of other European countries joining Ireland in the queue for a bail-out nagged away at investors all day.

Global Government News- Part Time Britain: Record 7.8m Workers Are Not Full-Time

Question: $8000 Tax Credit do you have to purchase a home before you can claim the credit?

My Husband and I would like to purchase a home using the $8000 Tax credit but we do not have a down payment and i would like to know if we can apply for the credit before we buy a house. i already know we qualify for all $8000

Answer: In order to get the actual “credit” you must buy the property first; however many lenders [especially FHA lenders] are offering a short-term “Bridge Loan” whereby they will lend you $8K. The caveat is that you MUST use the money for down payment and/or closing costs and pledge your refund to payoff the loan.

Also keep in mind that it is not an Automatic $8,000- credit. It is actually 10% of the purchase price. So if you are financing less than $80K then you will get less than $8K in credit.

You claim the credit using Form 5405 which gets attached to your federal tax return. Click on the first link below to pull up an Adobe copy of the form that you can save and/or print. I’m also sending a link for Publication 530 – Tax Information for Homeowners.

G’Luck…

Mike Womack, Sr. Partner
Zero Degrees Tax LLP
Moore, OK

Lula Bond Tax Drives Yields Up Most Since July: Brazil Credit

Yields on Brazil’s longer-term bonds are rising at the fastest pace in three months versus shorter- term debt as the government boosts taxes on foreign investment to curb gains in the real, the world’s best-performing currency.

What we know and don’t know about using the $8000 tax credit for down payment assistance

Question: How can I tell what tax credits I’m entitled to claim back??? where should it state it on my PAYE-statement??

Ireland: Hi, I was recently told by a friend that she claimed a small amount of tax back simply by phoning them and asking what she was due back. I rang them and asked them myself and they’ve sent me out PAYE statements for the last 4 years. How can I tell by these statements what tax credits I can claim back?? Im not very good with the whole tax scene. thank you

Answer: PAYE and Tax Credits are not the same thing and are not linked.

PAYE is your tax paid on earnings and is deducted from your wages. If you are due a tax rebabte you call your local income tax centre. Mored details at:

http://www.adviceguide.org.uk/index/life/tax/tax_rebates.htm

Tax credits is a benefit for people over 25 on a low wage or people who have children and an income less than 58K per year. To get tax credits you must make a claim for it. You can work out if you are entitled to Tax Credits and make a claim on line at :

http://www.taxcredits.inlandrevenue.gov.uk/HomeNew.aspx

Related Information

HMRC has published online guidance on their complaints handling procedure, covering Preventing Complaints, Standards for Dealing with Complaints, Recognising and Defining a Complaint, Avenues for Complaints Recording Complaints, Dealing with Complaints, Cross Business Complaints, Complaints about Staff Conduct, Persistent and Vexatious Complaints, Complaints received via Elected Representatives …

Question: OMG Stress how do i fight an overpayment of tax credits above the tax Credit office!!!?

I have been disputing an overpayment of tax credits that occurred whist I was living with my ex partner. We were overpaid £5,610 due to a computer mistake recording that I was working 37 hours a week and that I was unemployed and receiving benefits. I have disputed this, appealed and complained to no avail. The debt is on hold with the ”Hardship department” and has been since September. I have been told that they have not made a mistake even though I have recorded calls that they sent me detailing the times, dates, person I spoke to recording all the information that I had given was correct. Still they say they have not made a mistake, every letter I send is not received even though I have recorded delivery receipts and scans of signatures of the people receiving the letters. I have now written to my MP as this has been ongoing for 2 and a half years and they have told him they have no record of any complaints made by me. Help what now?

Answer: Not by yourself is the basic answer

Visit you local advice centre, social service or citzens advice where a welfare rights advisor experienced in this process can assist free of charge.

This is especially important in your case as there are specific rules about appealing and offical error, which look applicable to you. this should be straight forward to a trained advisor to action quite quickly

Message to States: ‘It’s time to get real’

STATES Members need to ‘get real’ and face up to the looming deficits with decisive action, Chief Minister Terry Le Sueur warned in the opening to the crucial Business Plan debate.