• 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

• 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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• Free Tax Help Available Nationwide
  

  Nearly 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations performing vital tax preparation services for low-income and elderly taxpayers.
  The IRS Volunteer Income Tax Assistance (VITA) Program offers free tax help to people who earn less than $49,000. [...]

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• 2009 Tax Law Changes Provide Saving Opportunities for Nearly Everyone
  

  In 2009, numerous new and expanded deductions and credits came into being for a broad cross-section of taxpayers: College tax benefits for parents and students; energy credits for homeowners who are going green; and even tax breaks for home buyers and car buyers.
  Following is a summary of these and other key changes taxpayers will find [...]

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