The IRS announced last month that refunds estimated to be more than $1.1 Billion may be waiting for nearly 1.1 million taxpayers who did not file a federal income tax return for 2007. The IRS estimates that about half of these potential refunds are $640 or more from taxes withheld or estimated payments made during […]

Introducing “portability” of the federal estate and gift tax exemptions (but not the GST tax exemption), with the result that any unused portion of the $5,000,000 estate tax exemption of the first spouse to die is available to the surviving spouse for use against his or her lifetime gifts or estate taxes. Thus, if a […]

Not long after founding the program, Smith began thinking about expanding it. In 2008, John Marshall added regional competitions in Chicago and Nashville, Tenn. It also added a mid-Atlantic competition that rotates between Richmond and Hampton, Va. Smith hoped the expansion would tap into the network of community colleges, historically black colleges and institutions with […]

Prosecutors say Herring was using the information to steal Social Security benefits. Herring plead guilty in October to charges of Theft of Government Property and Aggravated identity Theft. He also received a penalty from having his probation revoked in a similar case from 2007. A Birmingham man has been sentenced to more than three years […]

Now more than ever, America needs the DREAM Act, a bill for undocumented students brought to the United States at a young age. To qualify, students must attend college or serve in the military, thereby improving our nation through their education and service. It will strengthen the U.S. economy by cutting the deficit by $1.4 […]

New Changes to Credits for Eligible taxpayers like: home, car, and other deductibles. They must show that they lived in their former homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. To claim the credit, long-time residents must attach the documents above. The IRS also recommends attaching any of the […]