Consumer Debt ManagementIt was fun whilst it lasted. You applied for a couple of credit cards, had a store card on the go and even took out a hefty car loan not so long ago. The more purchases that you made on your cards the higher your monthly repayments became and now you find yourself in the position of making repayments each month with nothing left in the bank. It was easy getting yourself into debt but it`s a lot harder digging yourself out of this hole. Having lived the life of Riley for quite some time the reality has hit you hard and you now need to find an effective solution that can help you to manage your finances better in the future. Help with
Consumer Debt Managementcan be found through debt solution teams. They provide structured
Consumer Debt Managementadvice to tons of people and can provide you with a plan to help you to get yourself back on your financial feet. One of the schemes that the debt management firm can provide you with is a structured plan for all of your unsecured loans. They will calculate what you can afford to pay each month, negotiate with your creditors and you`ll then pay the
Consumer Debt Managementfirm one fixed monthly figure from then on.
Following Katrina, the IRS acted quickly to relieve victims of any tax burdens. One step was to extend any tax filing dates to late October and now those dates have been extended again.
Emergency Tax Relief Act
On September 23, 2005, President Bush signed the Katrina Emergency Tax Relief Act of 2005 into law with massive bipartisan support. The Act contains numerous provisions with one of the most important being the extension of tax filing deadlines. Specifically, victims of Hurricane Katrina have been granted an automatic extension until February 28, 2006. The extension covers the filing of taxes, paying of taxes and other related tax items
To benefit from the Tax Relief Act, hurricane victims need to take the following steps. For victims located in areas designated as ?individual assistance areas? by FEMA (Federal Emergency Management Agency) the tax relief is automatic and no action is required to be taken. Of course, you need to make sure FEMA has actually gotten around to visiting your area.
If FEMA has designated your area a ?public assistance? area, you are actually going to have to contact the IRS to claim relief under the Act. To do this, you must simply write ?Hurricane Katrina? in red ink on the top of any tax filings with the IRS. If you?re not sure what to do, you can contact the IRS disaster hotline at 866-562-5227.
Obviously, taxes and the IRS are and should be low priority items for victims of Hurricane Katrina. The IRS, however, should be commended for taking immediate action to grant tax relief instead of staggering around like a drunken sailor as we observed with FEMA.
