May
27
… payment check from the IRS. You filed a joint tax return for 2007. However, you're now divorced and the check is in both of your names. What do you do?
Well, like most checks that are made out to two people, most places (banks, etc) will require both signatures to cash the check. The key here is to understand the difference between AND and OR. If the check is made out to John AND Jane Doe, then both must endorse (sign) it. If the check is made out to John OR Jane Doe, then …
May
31
Week In Review - May 31, 2008
May 31, 2008 | Leave a Comment
… Tuesday
I talked about divorce and the stimulus package. Specifically what happens if you get divorced after filing jointly and the IRS sends a check in both your names.
Wednesday
I advised readers to deal with IRS in person, if possible. Many readers have reported better results when talking to IRS employees in person.
Thursday
Everyone's asking: where's my stimulus payment ? If you haven't received your payment, check out this article. The article lists the possible …
May
29
Where Is My Stimulus Payment?
May 29, 2008 | 105 Comments
… spouse form to claim your half. See this article for other child support questions.
Divorced? Did your ex get the payment?
If you filed jointly for 2007 but are divorced, that money may have been deposited in your ex's bank account. If you get a check, however, it will be made out to both of you. A bank will require both signatures to cash the check. Remember, the government says that the stimulus payment is split 50/50 between both spouses.
Did you file …
May
7
… Increased Income
Decreased Income (See the phaseout details here )
Getting Married or Divorced
Having a baby
Adopting a child
So if any of these change you eligibility for the payment can change.
So How Do I Get My Money in 2009?
The IRS will include a worksheet on 2008 tax returns. The worksheet will help you calculate if you are eligible for a tax credit on your 2008 taxes.
Can I Get My Money in 2008?
If you didn't file taxes or you weren't eligible …
Apr
30
Economic Stimulus Payment - Child Support Questions
April 30, 2008 | 244 Comments
Many questions about the Economic Stimulus Payment keep coming up. Some of the most common involve child support . The questions fall into two categories: owing and receiving child support.
If You or Your Spouse Owes Child Support
The IRS will withhold your payment up to the full amount, if you owe back child support . If you file a joint return and one spouse owes child support the …
Comment by Anonymous: … with me when I divorced him, I had every right it was …
Apr
1
Retirement Revolution - Part Two
April 1, 2008 | 2 Comments
… goes directly to that person. Make sure you update this as your situation changes. If you get divorced, your spouse dies or you have kids you may want to update the beneficiaries on your retirement accounts.
The golden rule of retirement planning: Keep your money away from the government for as long as possible.
There are more entrepreneurs over 50 than under 50 according to AARP. Older people are more ready to try new things or have been pushed out of their jobs. They need to …
Mar
9
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March 9, 2008 | Leave a Comment
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