Business Columnist | firstname.lastname@example.org
Hereís a quote to live by: If you find yourself in a hole, stop digging.But is it really this easy when it comes to your finances? What if that hole represents rising rent you canít afford? Or that increases in your salary ó if youíve even gotten any ó havenít kept pace with inflation? Or a mortgage that is underwater and you canít refinance to reduce your monthly payments?
You are not alone.When I wrote recently about getting a letter from the IRS saying my husband and I owed $12,255 in back taxes, interest and penalties that was the result of an erroneous 1099 form, I opened a floodgate of fellow sympathizers.They too had received a ďCP2000 Notice.Ē The notice is part of the electronic era of the IRS where lots of taxpayer contact is initiated through automation.
I had a hallelujah moment when I saw that the Consumer Financial Protection Bureau is proposing new rules that would require payday lenders to make sure that borrowers have the means to repay their loans.I know. You have to be thinking what Iíve thought for years. Isnít it the responsible thing for lenders to determine that people can pay the money back?
- A welcome ĎBill of Rightsí for student loans March 17
- A college-bound teen needs Economics 101 March 3
- Rules of engagement bring financial freedom to couple February 17
- When money opposites hook up, trouble follows February 10
- Obama was smart to keep tax breaks for 529 plans February 1
- So you think you canít save money? Time to think again January 25
- Fast track to financial freedom January 18
- The best practices for improving your credit score January 11
- 4 financial moves in 2014 worth celebrating December 28