• Avoid the Dreaded AMT
• Senators Consider Rebates for Retirees
• Clearing Past Debt With the IRS
• Rebate Letters to Cost $42 Million
• 10 Must-know Tax Terms

Money

• The earned income tax credit qualifications for 2009 – An IRS tax credit to reduce your taxes
  

  If you are looking to save money on your taxes, there is no better way other than finding important tax credits such as the earned income tax credit. The earned income tax credit (EITC) is available to individuals and couples who meet certain income eligibility requirements. The credit is based off [...]

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• IRS Announces Qualified Disaster Treatment for Chile
  

  Washington The Internal Revenue Service today issued guidance designating the earthquake that occurred in Chile in February 2010 as a qualified disaster for federal tax purposes. The guidance allows individuals who receive qualified disaster relief payments from any person to exclude those payments from income on their tax returns. Also, [...]

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• Know your required minimum distribution
  

  Over the years, your traditional IRA and 401(k) helped you reach retirement savings goals faster by allowing earnings to benefit from tax-deferred growth.
  But eventually, Uncle Sam wants his share.
  Regardless of financial need, the Internal Revenue Service generally requires owners of traditional IRAs, 401(k) plans, simplified employee pensions, or SEPs, and SIMPLE accounts to begin taking [...]

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• Secret Stimulus Savings
  

  Six months after President Obama unveiled his $787 billion stimulus package, some of the benefits are still hiding in the fine print. But that’s no reason for consumers to miss out on the perks. Here’s how to cash in.
  Upgrade your home

  The package doled out a $1,500 tax credit to help consumers buy certain energy-efficient products. [...]

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• Mortgage Rates Edge Up
  

  Mortgage rates rose slightly this week, Freddie Mac says.
  Rates on 30-year fixed mortgages rose slightly this week, inching above 5 percent, Freddie Mac said Thursday.
  The average rate on a 30-year fixed mortgage was 5.01 percent this week, up from 4.98 percent last week.

  Last year at this time, the average rate for a 30-year fixed [...]

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