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Entry bubble Government May Owe You Money

By: Joanne | September 01, 2009 | Category: Money

I just read that my State Treasurer is holding onto 1.5 billion dollars in unclaimed money. That’s right – all the states are holding unclaimed money, and if they’ve got some for you, all you have to do is step up and claim it.

States end up with valuable things like abandoned bank accounts, forgotten stocks, uncashed checks, certificates of deposit, life insurance policies, safe deposit box contents, and recovered stolen property.

When I did a search I didn’t find any records that the state has money for me, but I did find a record that looks like there’s money waiting for my brother-in-law. Lucky him!

The federal government is also holding money for people. Pension funds, FHA mortgage refunds and federal tax refunds from the IRS are all piling up because the government doesn’t have your correct address. Searching for unclaimed property from the federal government is a little bit more difficult because you have to check with each agency individually, but USA.gov can help you determine if the government owes you money.

Times are tough, so don’t overlook this opportunity to collect money owed to you.

| View Comments [1] | envelope E-mail This Entry | Tags: cash   government   joanne   money   pension   tax   unclaimed  

 

Entry bubble Tax Day Restaurant Deals

By: Colleen | April 15, 2009 | Category: Money

income taxNow that you've filed your taxes and maybe cut a check to your dear Uncle Sam, why don't you try to make the best of it and enjoy some free food?

In the current economic climate, the restaurant industry is suffering as more people are choosing to eat at home. To try and get people out of the house and back into the restaurant, many places are offering discounts and free offers on tax day.

  • McCormick & Schmick's: Offers today's diners $10.40 certificate for future use. Many entrees are also discounted.
  • P.F. Chang's: 15% discount for those who eat there today.
  • MaggieMoo's Ice Cream: free single-scoop servings in their "e-cone-omic ice cream stimulus package" at participating treateries.
  • Cinnabon: free bite-size cinnamon rolls from 5-8 p.m.
  • Taco Del Mar: has a promotion titled, "Taxes Suck. Tacos Don't." Register on their website for a free taco coupon.
  • T.G.I. Friday's: $10 gift card for those who spend more than $25.

Do you know of any other tax day deals or promotions you can share?

*Also of note on income tax day—it's my sister's birthday! Happy Birthday, Karilynn!*

| View Comments [2] | envelope E-mail This Entry | Tags: colleen   free   income_tax   stimulus   tax   taxes  

 

Entry bubble State Sales Tax Holidays

By: Nicole | August 01, 2008 | Category: Money

Gold sandalsA few days ago, I was browsing through one of our many local malls and found a hot deal on a fabulous pair of new shoes. I try to limit my shoe collection to a reasonable amount (which is relative, of course), but I couldn't pass up this sale. So, I bounced up to the counter with a smile and a credit card. Unfortunately, I had forgotten that Maryland recently raised its sales tax to 6 percent. Dude, that can totally add to the cost of new shoes (and most other consumer purchases).

The good news is that many states offer a sales tax holiday. In fact, 14 different states have a tax holiday in August, many beginning today. That should help for those of you who have back-to-school shopping to do.

If you're not sure about your state’s sales tax or its sales tax holiday, be sure to check them out. Most states have rules about which purchases will be tax-free during the holiday, so do a little research before you go. The money you save could help you buy an extra pair of shoes... guilt-free! Happy shopping.

| View Comments [2] | envelope E-mail This Entry | Tags: buy   money   nicole   purchase   sales   sales_tax   spend   tax  

 

Entry bubble New Gas Mileage Rates and Estimates

By: Jake | June 30, 2008 | Category: Money

Those of you who use your car for business purposes can rejoice a little bit. The Internal Revenue Service increased the optional standard mileage rates for the rest of the year because of rising gas prices.

For every business mile driven from July 1 to December 31, 2008 taxpayers can use the rate of 58.5 cents to calculate deductible costs, 8 cents more than the 50.5 than the first half of 2008. The IRS also increased the standard deductible rates for medical/moving purposes from 19 to 27 cents. The agency doesn't normally change rates midyear but decided it was necessary due to rising gas prices.Fuel Pump

This change means that federal government employees who use their own cars for government work may see an increase in their reimbursement rates since the U.S. General Services Administration announced they're reviewing privately owned vehicle reimbursement rates. UPDATE: On August 1, 2008 the new rate for federal employees will be 58.5 cents per mile.

It seems whenever I post about something related to gas prices I get a few comments about specific types of cars. So I thought I'd mention that 55 years ago today the first Chevrolet Corvette rolled off the assembly line in Flint, Michigan.

The Environmental Protection Agency recently adjusted automobile gasoline mile per gallon estimates to take into account idling and other driver habits to make them more realistic. Fueleconomy.gov applied these new estimates to every automobile manufactured since 1985.

I am curious how many miles per gallon of gasoline the 1955 Corvette got. By the new estimates a 1985 Corvette gets about 15 miles a gallon in the city and 20 on the highway. I bet the 1955 Corvette gets far less. Does anyone know?

| View Comments [6] | envelope E-mail This Entry | Tags: business_mileage   fuel   gas_mileage   jake   tax  

 

Entry bubble Tax Rebates are Here (Sorta)!

By: Jake | May 05, 2008 | Category: Money

We're starting to see economic stimulus payments (or tax rebates) in our bank accounts! Or at least some of us are. If you want to know when you'll get it, the Internal Revenue Service has created a "where's my stimulus payment" calcultor where you can enter some information and see when you should get your payment.

Animated Guy with a Tax CheckThe IRS is sending payments out in order of the last two digits of a taxpayer's social security number. So those of you who qualified for the payment, opted for direct deposit and whose SSN ends in 0-20 got rebates last week.

The IRS rebate schedule says that those of us with higher numbers at the end of our SSN will have to wait a few more weeks to get our direct deposit payments. Those who opted for paper checks will start to get checks in mid-May.

This SSN schedule assumes the IRS processed your tax return by April 15. If the IRS did not process your return by April 15, you should get your economic stimulus payment up to two weeks after you receive your refund (regardless of direct deposit or check it seems). If you did not expect to get a refund or you filed your return after April 15, it will take a minimum of six weeks after you file to receive your stimulus payment.

If you don't remember or don't know how much money you qualified to receive, you can use the IRS Economic Stimulus Payment Calculator to find out. Keep in mind you could receive less than the amount calculated here if you owe back taxes, child support, money for student loans and other reasons. Around the same time you get your payment, the IRS will send you a notice to break down how it was calculated. Keep this statement for your records.

If you did not file your 2007 income tax or an extension, you can still file your federal income tax by October 15, 2008 to see if you qualify for an economic stimulus payment. The sooner you file though, the sooner you'll get results.

If you have other questions call the IRS or contact your local IRS office.  

| View Comments [23] | envelope E-mail This Entry | Tags: economic   jake   money   payment   rebates   stimulus   tax  

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