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Sunday, March 08, 2015
Monday, March 02, 2015
Can’t Pay Your Taxes? Here’s What to Do
Taxes Sponsored by TurboTax
Tax Hacks 2015: Can’t Pay Your Taxes? Here’s What to Do
MoneyTalksNews
Jim Gold5 hrs ago
© Money Talks News IRS 1040 Tax Form Being Filled Out This tax status may bring you woe: “I owe! Oh no! I haven’t got any dough! So…”
This scary situation may make you want to dodge the IRS, but don’t do it.
Resist the temptation to skip filing, warns Money Talks News savings expert Stacy Johnson. The penalty for not filing is 10 times worse than it is for paying late. And the April 15 filing deadline is fast approaching.
Watch the video below for Stacy’s tips and then keep reading for more advice on what to do if you can’t pay the IRS a dime on time.
Don’t fail to file
When it comes to income taxes, most people are rewarded for filing because they get money back.
As of Feb. 20, the IRS said in its latest weekly update on the 2015 filing season, 49.6 million tax returns were filed; nearly 40 million were getting refunds averaging $3,120 each.
If you owe and can’t pay, file anyway! If you file something and don’t pay, your penalty will be 0.5 percent per month on what you owe, the IRS says. But if you don’t file anything at all, it’s 5 percent per month, or 10 times more, up to 25 percent of your total tax bill.
For example, if you owe $1,000, file, but don’t pay, Uncle Sam will assess you $5 a month until you send in what you owe. But if you don’t file, the penalty will be $50 a month.
Consider your options
“There is always a cost to paying the IRS over time rather than when your taxes are due,” says Manny Davis, a Southern California accountant. Compare the cost of an IRS payment plan with alternatives.
Get a loan: If you can’t pay, the best solution is an interest free loan, from friends, family or maybe your boss. Second best might be a signature loan from a source like a credit union. Visit the Money Talks News Solutions Center for more information about a Personal Loan.
Charge it: You could put what you owe on a credit card, but it will cost you: Federal payment processors including pay1040.com, payUSAtax.com, and officialpayments.com charge upfront fees, plus your card issuer will charge you interest.
IRS Form 9465 Installment Agreement Request
Buy time, sort of: If by April 15 you ask for an automatic extension of time to file your income tax return, the IRS usually gives you two extra months — for filing, not for paying.
“An extension of time to file is not an extension of time to pay,” the IRS cautions.
However, you will avoid the late-filing penalty, it says. Additionally, IRS Form 4868, which is the extension request that can be filled out online or on paper, says that a late payment penalty will not be charged if you can show reasonable cause for not paying on time.
Make a deal: The IRS may be nicer than you think.
“We recognize that some people may be enduring financial hardship,” IRS Florida spokesman Mike Dobzinski told Money Talks News. “If you need to file a tax return, pay what you can, get that return in to avoid any late payment penalties and late filing penalties, and perhaps the IRS can work out an installment agreement with you.”
The IRS says you must first file all required returns and be current with estimated tax payments. If you’re an individual owing $50,000 or less in combined tax, penalties and interest, you can request an installment agreement using the Online Payment Agreement application, or complete IRS Form 9465, Installment Agreement Request. There’s a setup fee: $52 for a direct debit agreement; $120 for a standard or payroll deduction agreement; $43 if your income is below a certain level.
Offer in compromise: You may qualify to settle your tax liability for less than the amount you owe, says the IRS. The agency considers your ability to pay, income, expenses and asset equity.
“We generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time,” the IRS says.
Check your eligibility with the IRS’ prequalification tool. You may need professional help. If you go forward, the filing fee is $186; the detailed instructions and forms you need are in this IRS booklet, Form 656-B.
Lien on me
Don’t ignore tax bills from the IRS. If you don’t pay up, the IRS could place a federal tax lien — the government’s legal claim — against your real estate, personal property and financial assets.
For example, actor Robert De Niro on Feb. 26 paid a $6.4 million lien on his New York condo in Tribeca in connection with his personal 1040 filing for 2013, the New York Daily News reported. De Niro’s lawyer claimed the IRS had sent the Academy Award winner’s tax delinquency notice to an old address. Once alerted to the bill, De Niro paid it in full, the lawyer said.
A lien secures the government’s interest in your property. Under the IRS’ Fresh Start initiative to make it easier to pay back taxes, it is generally only when you owe more than $10,000 that a lien is filed.
If you don’t pay your tax debt, the IRS can levy, seize and sell any type of real or personal property that you own or have an interest in.
Prevent a repeat
How did you get here?
Many people who owe the IRS at tax time did not have enough money withheld from their paychecks. You may want to consider filing a new W-4, the IRS says. Try its withholding calculator. Have handy your most recent pay stubs and most recent income tax return. Enter estimates if necessary. You may have claimed too many exemptions or received W-2s from more than one job. Or you’re married, and both you and your spouse work. The number of your allowances changed during the year.
Other top reasons noted by the IRS: You have nonwage income, such as interest, dividends, alimony, unemployment compensation, or self-employment income.
To learn more about reducing next year’s tax liability, check out Stacy’s Money Talks News video about planning ahead to reduce next year’s tax bill.
Thursday, February 26, 2015
Wednesday, February 25, 2015
Go Placidly
Desiderata
Max Ehrmann
Go Placidly
Go placidly amid the noise and haste, and remember what peace there may be in silence.
As far as possible, without surrender, be on good terms with all persons.
Speak your truth quietly and clearly; and listen to others,
even to the dull and ignorant; they too have their story.
Avoid loud and aggressive persons, they are vexations to the spirit.
If you compare yourself with others, you may become vain and bitter,
for always there will be greater and lesser persons than yourself.
Enjoy your achievements as well as your plans.
Keep interested in your own career, however humble;
it is a real possession in the changing fortunes of time.
Exercise caution in your business affairs, for the world is full of trickery.
But let this not blind you to what virtue there is;
many persons strive for high ideals,
and everywhere life is full of heroism.
Be yourself. Especially do not feign affection. Neither be cynical about love;
for in the face of all aridity and disenchantment it is as perennial as the grass.
Take kindly the counsel of the years, gracefully surrendering the things of youth.
Nurture strength of spirit to shield you in sudden misfortune.
But do not distress yourself with dark imaginings.
Many fears are born of fatigue and loneliness.
Beyond a wholesome discipline, be gentle with yourself.
You are a child of the universe no less than the trees and the stars;
you have a right to be here. And whether or not it is clear to you,
no doubt the universe is unfolding as it should.
Therefore be at peace with God, whatever you conceive Him to be.
And whatever your labors and aspirations, in the noisy confusion of life,
keep peace with your soul. With all its sham, drudgery and broken dreams,
it is still a beautiful world. Be cheerful. Strive to be happy.
Monday, February 16, 2015
Tesla Motors Announces A New Home Battery; Living Off The Grid Will Soon Be Status Quo
Tesla Motors Announces A New Home Battery; Living Off The Grid Will Soon Be Status Quo
(Page 1 of 2)
Elon Musk, CEO of Tesla Motors, announced Wednesday that the company is working on a new kind of battery that would be used to power homes. Based on Tesla’s lithium-ion battery technology, the new battery is expected to help the company become a leader in the growing home energy-storage market.
Speaking during an earnings conference call on Wednesday, Musk said that the design of the battery is complete, and production would begin in about six months. Although the company did not provide any date for the product's launch, Musk said that he was pleased with the result.
[CONTINUE]
Saturday, February 14, 2015
Wednesday, February 04, 2015
Sunday, February 01, 2015
Wednesday, January 28, 2015
Sunday, January 25, 2015
20 things you never knew about kissing
20 things you never knew about kissing
http://a.msn.com/0E/en-us/AA3gtBD
Friday, January 23, 2015
Don't let the opinions of the average man sway you. Dream, and he thinks you're crazy. Succeed, and he thinks you're lucky. Acquire wealth, and he thinks you're greedy. Pay no attention. He simply doesn't understand."
-- Robert G. Allen
-- Robert G. Allen
Monday, January 19, 2015
Saturday, January 17, 2015
Thursday, January 08, 2015
Intelligent People All Have One Thing In Common: They Stay Up Later Than You
Intelligent People All Have One Thing In Common: They Stay Up Later Than You
Lauren Martin
There’s an electricity in the moon. A pulse, a magic, an energy. A bewitching entrancement unlike that of the sun.
The moon is for things unseen, things done in the shadows and beneath the fog. Under bridges and beneath bed sheets — it’s for wild hearts and unconcerned minds. It’s where plans are made in dark alleyways and secrets revealed under the soft haze of light coming through the cracks of closed shutters.
It’s when fugitives escape and kids run away. It’s when girls lose their virginities on torn leather seats and boys get into trouble. It’s when the suffering take their lives and the lonely seek comfort.
It’s when we fall in love — that passionate, all-consuming, purposeful love that always looks a little different in the light of day.
It’s by night that we see our true desires. We reflect on our moments of unhappiness and those yearnings that are momentarily blinded by the sun. It’s when we become poets and philosophers, martyrs and murderers.
It’s when we form regrets of days past and that profound hatred for those who hurt us. It’s when we choke on our tears through deep sobs that can only pour onto dark pillowcases.
The night is for passion. It’s for fanaticism, romance and trouble. It’s when your most tender, authentic and suppressed sides come out to play under the nonjudgmental eyes of the stars.
It’s for all those things you could never dream of doing by day, under the watchful eyes of the sun.
It’s no wonder night owls are more intelligent than those who hit the hay early. It makes sense that those who absorb the energy of the moon are more creative and open-minded than those who like to catch the early worm.
It’s only natural that those who go to bed earlier never experience the psychological and emotional changes that occur under the blanket of darkness.
According to “Psychology Today,” intelligent people are more likely to be nocturnal than people with lower IQ scores. In a study run on young Americans, results showed that intelligent individuals went to bed later on weeknights and weekends than their less intelligent counterparts.
In “Study Magazine,” Satoshi Kanazawa, a psychologist at the London School Of Economics And Political Science, reported that IQ average and sleeping patterns are most definitely related, proving that those who play under the moon are, indeed, more intelligent human beings.
His analysis goes back to ancient times, asserting the idea that even in primitive years, people have been known to rise and fall with the sun.
Average brains were conditioned to follow this sleep pattern, while the more inquisitive, intellectual ones want to defy that pattern and create their own.
It’s an unconscious defiance that comes from refusal to acquiesce to the idea of mass appeal.
These findings are reported by “Study Magazine” as such:
Bedtimes and wake-up times for Americans in their 20s by IQ.
Very Dull (IQ < 75)
Weekday: 11:41 pm -7:20 am
Weekend: 12:35 am -10:09 pm
Normal (90 < IQ < 110)
Weekday: 12:10 am -7:32 am
Weekend: 1:13 am -10:14 am
Very Bright (IQ > 125)
Weekday: 12:29 am -7:52 am
Weekend: 1:44 am -11:07 am
Those with IQs less than 75 went to bed by 11:30 pm on weeknights in early adulthood, whereas those with IQs over 125 went to bed around after 12:30 am. This is no coincidence.
The data supports the notion that all night owls feel: the only real time for living is after everyone’s gone to bed.
Only after dark can we learn, absorb and study the effects of the day. It’s a necessary self reflection that few humans take the time to make.
There’s something to be said about those who fight the urge to sleep and explore that block of uncharted time that so many who always have their eyes closed will never see.
They Get Time To Daydream
All those dreams you can’t have during the day, when you’re snapped out of them by friends, family and work, are finally given time to run around.
Free to play in the open spaces of your mind, you can swim in all those thoughts you hid under your desk or behind mounds of paper work. It’s the most creative time of day, along with the most liberating.
It’s by the nightfall that your most uninhibited and passionate sides are explored. It’s the time to unleash your innermost desires and allow yourself the freedom that’s masked behind the taunting exposure of sunlight.
The night is for testing your limits and challenging yourself. It’s for discovering those passions you suppress all day and breaking down all those rules your parents made to protect you.
It’s the time to dig into those hidden corners of your mind and unknown trails of your subconscious. It’s a time of self-expression that can only be unlocked at night and evaluated by day.
They Are Anti-Establishment
Staying up late has been, and always will be, an act of rebellion. A defiance of the nine-to-five, the very habit of staying up late is revolutionary. Since ancient times, there is evidence that society condoned the night owls.
In the academic paper, “Why The Night Owl Is More Intelligent,” published in the journal “Psychology And Individual Differences,” it’s widely assumed that for several millennia, humans were largely conditioned to work during the day and to sleep at night.
While those who defy the trend, are more likely to “acquire and espouse evolutionarily novel values and preferences than less intelligent individuals.”
These “novel values” become the building blocks of leaders. They are the makings of revolutionaries, inventors and explorers. They are the ones who makes sacrifices and defy the societal pressure to follow the masses.
It’s no surprise that those willing to stay up late, to explore the uncharted territory of night, are more inquisitive.
They are more apt to make discoveries and challenge authority. They want to expand their mind, not shut it off just because people tell them it’s time for bed.
They Are More Open-Minded
Things that happen at night are things you can’t get away with during the day. It’s the time of utter licentiousness, of underhanded transactions and unseemly occupations.
It’s when the bars are opened and the poets write. It’s when musicians pore over instruments, geniuses have their breakthroughs and artists come alive. According to “Esquire,” it’s also when you have the most sex.
Healthy sex lives and late curfews are indeed, positively correlated. Those reported to have later bedtimes were buying more sex toys and having more sex than their sleepier counterparts.
One sex shop worker believes that intelligence is correlated with open-mindedness, which in turns correlates with a more open sex life.
Those who are willing to stay awake, who yearn for the mysteries of nightfall, are exposed to an array of discoveries that those who stay asleep will never know. It’s those who are willing to test their limits and explore in the dark who will bring more light to the day.
They Are Proactive
The early bird may get the worm, but the night owl gets the whole jar. While the early risers may get up to see the first worm crawl its way to the wet surface, the night owl gets to them before they burrow under.
Getting up early is most definitely proactive, but staying up late is just as fruitful. Those who stay up get hours ahead, rather than the one or two an early riser gains.
There are things to be explored at night that early risers will never experience. There are ideas formulated and tasks completed that early risers never get to finish.
Because at night, there is dawn and a new day in front of you. But by morning, there’s just the bleakness of night and the daunting end of another day.
Lauren Martin is a Senior Lifestyle Writer at Elite Daily. After graduating from PSU, she moved to NYC to write fart jokes at Smosh Magazine. Making her way to ED, she now writes riveting commentary on nude pics, condoms and first dates.
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