Most of us don’t bother to look at our medical bills. We just assume that they are correct and that our insurance company paid them. The thought of second guessing or challenging them never crosses our mind. Yet a Harvard Law & Medical Study indicates that a high percentage of them could be incorrect.

If you’re unemployed, you’ve got a lot of company out there. AND, there are some tax traps that could make your financial a lot worse. Avoid these common tax problems now!

Tax Trap #1: Unemployment Income isn’t taxable. Sorry, the tax man does  wants a cut of the action even when you’re unemployed. The easiest way to handle the taxes is to have them withheld just like a paycheck.

Tax Trap #2: Killing Your Golden Goose When You Raid Retirement Accounts.

Another Potential Stress for Homeowners in Distress

The possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on the vulnerability of desperate homeowners is equally frightening. Many so-called foreclosure rescue companies or foreclosure assistance firms claim they can help you save your home. Some are brazen enough to offer a money-back guarantee.
Unfortunately, once most of these foreclosure fraudsters take your money, they leave you much the worse for wear.
Fraudulent foreclosure “rescue” professionals use half truths and outright lies to sell services that promise relief …

Here are the newest tax law perks for 2008. Check with your tax preparer to see if they apply to you…

If you didn’t get the full Economic Stimulus check last year, you may still be able to get it this year especially if your income is lower due to unemployment or investment losses. Your tax preparer will need to know how much you received last year. If you don’t remember how much your check was, you can find out at “How Much Was My 2008 Stimulus Payment” at the IRS …

The IRS announced on December 10, 2008 that interest rates for the first quarter would be reduced by 1%. The new rates will be:
Five (5) percent for overpayments [four (4) percent in the case of a corporation];
Five (5) percent for underpayments;
Seven (7) percent for large corporate underpayments; and
Two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000.
If you’re behind on your taxes, now’s a good time to get caught up.
You can find the entire IRS ruling at: http://www.irs.gov/newsroom/article/0,,id=201115,00.html