Monthly Archives: December 2018

How to Check Federal Income Tax Refund Status?

People struggling with their finances keep checking their federal income tax refund status, as an early refund would provide them the much required financial boost. Many people, however, are not aware how to find this tax refund status online. This status check can be quite baffling, at times, since you should know about the state that manages the refund process.

Federal Income Tax Refund

Time taken to receive a refund depends on what technique you have used to file your returns – electronic, via US mail, etc. Filing via post is definitely a slower process than filing through email. Hence, it takes around six weeks to receive a refund after IRS receives your return file by post, and around 3 weeks in case of email.

You can also choose the mode of payment you would like to receive your refund through. There is an electronic transfer or a direct deposit, which is definitely quicker than the other option, check via mail. The selection of mail payment should be maddened in form 1040 while filing the return. If you want IRS to pay you via electronic payment option, you need to fill up a separate 8888 form.

How to Check Federal Income Tax Refund Status?

If you want to check you Federal income tax return status, you can visit the official IRS website ( and go to ‘Where’s my refund’ page. Or you can check it over the phone by dialing 1-800-829-1954. You cannot, however, check the status immediately after filing the return. In case of email filing, you can check it after 3 days, and in case of mail, you can know your status after 3 weeks.

How to Get Quick IRS Tax Refund?

One of the major reasons in day of tax refund, other than mode of filing it, is errors in the form. By eliminating these common errors, you can avail a quick refund:

  1. Incorrect Social Security Number
  2. Incorrect income report
  3. Arithmetical errors in calculating deductions, taxable income, earned income credit, total tax payments, etc.
  4. Common mathematical errors
  5. Particulars not filled in, or filled in under wrong headings

Besides these delays, each state has different rules for tax refund process. You can visit the IRS website and know about rules governing tax refund process in your state.

What is IRS Tax Debt Settlement Help?

It is quite significant for an individual to be on top of their taxes, always. One must keep a track of all the deductible expenses and investment of the year. If you were, however, not able to keep track of you taxes for few years, it’s very likely that IRS agents might come searching for you. In order to avoid such situation, one can seek IRS tax debt settlement help.

What does this settlement mean?

IRS Tax Debt Settlement help is quite similar to any other debt settlement offered by a creditor. If you owe some money to IRS, they will send you a notice mentioning the amount you have to repay, and various repayment plans to choose from. It is wise to keep in touch and maintain good relation with the person calling you time and again from IRS. If you try to escape this debt, you will be charged with various fines, and jail, sometimes. If you don’t want this to happen, make sure you talk to the person calling you up.

IRS Debt Relief

IRS offers various plans to repay your tax. You can pay the entire amount as lump sum or opt to make monthly payments. If you choose to pay every month, you cannot afford to miss a payment as it could result in huge fine or even jail.

IRS can also waive of a part of your tax debt, if you are able to provide proofs that shows about current hardships you are facing. You, however, would need to be in regular touch with IRS.

When would you need an attorney?

You can do most of the procedure of IRS tax debt settlement help. If you, however, are under huge debt and do not know what to do, you can seek help from a tax attorney. There are thousands law firms around the country that can help you get out of such mess by contact IRS. Optionally, you can also turn toward a debt counselor who can point you the right direction. However, make sure you don’t get trapped in debt settlement debts prevailing n the market these days.

How to Save Money on Taxes?

Most people dread tax period as it involves lots of paperwork and exploring their financial habits. Yet, everyone wants to know how to save money on taxes. While it’s quite impossible to eliminate tax completely, there are ways you can reduce the payable amount.

  1. Follow the Trend – Go Green
    Everyone seems to be going green. The fact is, however, it saves more money than it conserves the earth. Along with cutting down on your electricity bills, reducing the usage of home energy can help you save money on taxes, under Energy Policy Act. You can log on to to know if you qualify for such deduction.
  2. Save on Medical bills
    If you have saved the receipts of all your medical expenses, you don’t have to bother much about how to save money on taxes. Almost every medical expense like buying prescription drugs, hospitalization bills, medical insurance, visit to doctors, etc are deductible if you have the proof. To know the full list of expenses that are cover under this benefit, visit
  3. The Expense of Charity
    Amount donated to recognized charitable trusts is deductible, and all of us are aware about it. You can, however, also deduct money spent on any other expenses that were related to the charity. For instance, traveling expenses paid to reach the charitable organization is also deductible.
  4. Are You Paying for Your Diploma?
    Of course, we all pay for our diplomas. If you, however, have borrowed a student’s loan, the interest you pay every year is deductible from the taxable income.
  5. Advance Payment
    Mortgage payments of this year are deductible. But if you opt to make next year’s payment in advance, i.e. in this year, you are eligible to deduct it from this year’s income.
  6. Something for First Time Employees
    After graduating from college, you start seeking job actively. If you are offer a job out of your locality or state, or any place that requires relocating, all your moving expenses are deductible. So, have an expensive pack up, you now know how to save money on taxes.
  7. Save Money by Managing Your Money
    Expenses, up to 2% of you yearly gross incomes, incurred to manage your funds are deductible. This would include expenses like paying for a safety box, communication with your broker, buying a tax preparation software, buying investment magazines, etc.

Types of Interest Rates on Home Loans

One of the most important things to consider while going for a home loan is the applicable interest rate. There are various types of interest rates offered by a financial institution for your convenience. You can opt for any type on interest rate depending on you ability to repay the loan. Let’s have a look at various types of loans prevailing in the market.

Fixed Interest Rates on Home Loans

As the name suggests, the interest rate on your mortgage would be fixed if you opt for this type of loan. Hence, the amount you pay every month as installment is non-variable. For people on a budget, this is a very good option as they would be able to set aside a fixed amount every month. This is also good option for people with fixed income as they don’t have to worry about sudden hike in interest hike.

Adjustable Interest Rates on Home Loans

In this type of loan, interest rates are not fixed, i.e. it’s variable. So, the installment amount you pay every month would vary depending on the market movements. Although it is variable, the interest rate cannot rise beyond a certain level. This is usually preferred by many people as fixed rate can prove to be a bit costlier than variable rates. If, however, there is a rise in the interest rate, you will have to pay more.

Capped Interest Rate on Home Loans

Here, the receiver of the loan would need to pay an accumulated interest rate based on fixed rate procedure. If, however, the rates fall beyond the capped amount, the borrower has to pay less.

Discounted Interest Rates on Home Loans

If banks offer discounted interest rates, obviously everyone would borrow such loan. It is, however, offered by few banks and for a limited period of time. Recently many banks provided discountedrates to boost loans and real estate sales after the market crash.

To get the best deal available in the market, You must compare all the types of loans provided by all the banks and select the best one according to your needs. Few banks would agree to provide a customized loan based on your requirements. However, interest rates on home loans offered by a bank vary from individual to individual as credit score is a big factor influencing loan rates.

Monetary system in meltdown

Nobody likes meltdowns, especially not a kid with an ice cream cone on a warm summer’s day. But nobody likes it especially when it has a lot to do with the world’s monetary system melting down into nothingness. This is the endgame right here for the dollar. It seems to be that the US dollar will not be the reserve currency of choice for the world much longer. But the most surprising bit is that a large slice of investors. Policy makers are largely unaware of what the dollar losing its reserve status means for the world and for them. Continue reading

FNBO Direct: a quick overview

The First National Bank of Omaha (FNBO for short) has a range of offerings, one of which is the FNBO Direct account. FNBO is a subsidiary of the First National of Nebraska and as of today, it is the single largest privately owned bank in the United States. It was founded way back in 1850 and opened its doors to the public in 1857 by a collection of Iowan settlers. And since then FNBO has never looked back. FNBO has also been a trailblazer in driving women into the workforce. FNBO Direct is but one of the options that FNBO offers by way of services. The bank has a rich tradition of firsts to its name. Continue reading

Millennium Bank and the mystique surrounding

Some say that Millennium Bank is too good to be true and that there must be something shady or wrong about because it just seems too good on paper. The high-flying bank can claim to have CD’s on their books with rates twice that of the market norm. They have assets in hand worth more than $50 billion. Indeed, the Millennium Bank has created quite the buzz and the inquisition by Matt Goldstein has only served to make a tricky issue even trickier. There has been a lot been said about Millennium Bank, both positive and negative. Goldstein’s methodology of analysis itself has been called into question, with many saying that it was very unfair to pit the rates offered by an offshore bank to that offered by an American bank. Continue reading

0 apr credit cards targeted at prime borrowers

If your credit score is in the region of 720 or more. I think you would have been flooded with offers and pre-approvals to take 0 apr credit cards from some credit card company or the other. Most of these offers boast the fact that they have 0% annual percentage rates on new purchases and balance transfers and they offer this for a period as long as 21 months. These offers for 0 apr credit cards are expected to become increasingly common as delinquency rates drop still further. It has already dropped from 26% it was a year ago and it continues to fall all the time. In an effort to boost it even further, credit card companies are doing everything. Short of giving away the card and paying you to use it. Continue reading

japan economic condition

It’s a painfully familiar tale but allows us to repeat it for what might be the umpteenth time. Imagine that this is being repeated to you in your favorite voice, perhaps Morgan Freeman’s or Patrick Stewart’s or Don LaFontaine’s. Just take your pick and let’s roll with it.

In a nation that has been devastated by real estate and financial crises. A recession has beset the people and put a pall of gloom over all that was good in life. But one man, one president makes promises that all will be fixed and all will be back to normal. One man, one goal. Can he make a difference? Continue reading