Monday, February 09, 2009

Answering Income Tax "What Ifs" As Jess's post last week demonstrated, people are busy preparing for the 2009 tax filing season. Unfortunately with the economic downturn, a lot of people have fallen into "what if?" situations as they tackle their Internal Revenue Service forms. A "what if?" would include situations where you dipped into your IRA or lost your job. Last week a colleague forwarded me an email from the IRS explaining people can answer many of these "what ifs" by searching the IRS homepage. I went ahead and did the searching for you and created the list of links below to help answer your "what ifs?" By chance you have more "what ifs," contact the IRS or leave me a comment and I'll see if I can answer it for you. Job Related What if I lose my job? What if my income declines? What if I withdraw money from my IRA? What if my 401(k) drops in value? Debt Related What if I lose my home through foreclosure? What if I sell my home for a loss? What if my debt is forgiven? Tax Related What if I can't pay my taxes? What if I can't pay my installment agreement? What if I can't resolve my tax problem with the IRS? What if I need legal representation to help with my tax problem but can't afford it?  - Jake [Gov Gab: Your U.S. Government Blog] 10:52:40 AM

© Copyright 2009 Jocelyn Shaw. Last update: 3/2/2009; 11:02:13 AM. Photo curtesy of Marjorie O'Brien