To be eligible for the tax relief, you’d have to be a resident or hold business in presidential disaster areas such as:

Louisiana – Acadia, Beauregard, Calcasieu, Cameron, Iberia, Jefferson, Jefferson Davis, Lafourche, Plaquemines, Sabine, St. Mary, Terrebonne, Vermilion, and Vernon.

Texas – Angelina, Austin, Brazoria, Chambers, Cherokee, Fort Bend, Galveston, Grimes, Hardin, Harris, Houston, Jasper, Jefferson, Liberty, Madison, Matagorda, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Trinity, Tyler, Walker, Waller, and Washington.

If you are living outside these areas but have your records or your tax professional’s office in any one of these counties, or if you are a member of any government or charitable organization that helps out in relief operations in affected areas, you can also take advantage of the tax extension.

There are two ways to benefit from this extension:

• o    get a chance to receive an earlier tax refund by claiming a casualty loss when you file your tax return for last year, or

• o    get a bigger tax saving by claiming the loss for this year’s tax return.

Remember to put “Louisiana/Hurricane Ike” or “Texas/Hurricane Ike” at the top of the form if you are filing for last year so that the IRS can speed up processing of the refund. Personal property losses or reimbursements can also be deducted on your returns, but you have to adhere to some IRS regulations for this.

IRS has made it easier for taxpayers to get the tax relief by using computers to automatically identify residents eligible for the extension. Those living outside the disaster areas can also request for tax relief by calling the agency’s hotline numbers or by visiting www.irs.gov.

9/11 is also a day when we remember the courageous people who risked their lives to help rescue the victims: policemen, health workers, volunteers, and a lot others. They were the ones who hauled bodies out from the rubbles, rushed bleeding people to hospitals, and initiated emergency assistance. They helped others to survive the attacks; they saved lives. There’s no doubt about it, they’re real-life heroes.

In July, there were plans to provide hospitals and clinics with a $30 million federal grant to help treat patients suffering from respiratory ailments. Firefighters were among those who responded during the 9/11 attacks. After the rescue operations, they experienced respiratory difficulties—nicknamed “World Trade Center cough,” caused by exposure to smoke and dust. The money, which is believed to be included in a bill, will cover expenses for firefighters’ medication.

The Federal Emergency Management Agency or FEMA played a major role during the 9/11 rescue operation, and did a good job. Part of its mandate is to provide funding for emergency preparation, which is very important in case a second attack or any related disaster happens. FEMA sponsors trainings for anti-terrorism and counseling assistance. It also pays for expenses of personnel attending training courses for disaster management.

Seven years may have passed but the memories of 9/11 still haunt us. Rescue workers whose health have deteriorated are living reminders of the savagery of the terrorist attacks. How the government—and us, in general—seek to ease their affliction shows how much we value their heroism on that historic day.

Foreclosure rescue scams are used by some companies to cheat money from homeowners who are facing a foreclosure threat. They operate by going through foreclosure listings to identify possible victims. They then send a letter promising the recipient a solution to avoid foreclosure. Unknowing victims, who are oftentimes stressed out and are on the verge of desperation, fall for the companies’ empty promises. They become willing to pay these guys money for negotiating a deal with their lenders, sincerely hoping that these people will save them from their problems. In time, homeowners find out that they have been conned.

The Federal Bureau of Investigation (FBI) sees the possibility of an increase in occurrences of these activities as the housing crisis continues to worsen. Several local governments are already implementing measures to crack down on these companies; an example is the “Operation Stealing Home” in Missouri, which led to filing of cases against people and businesses found to be taking advantage of homeowners.

Though such operations serve as a watchdog, we must be able to stand guard against such fraudulent entities ourselves. Here are some pointers you may use to avoid becoming a victim of rescue scams:

• •    When you are asked for a certain amount of money right away, cease to make any deals. This is an indication that you are dealing with a con.

• •    Be careful of signs and ads you see on TV, fences, and even telephones poles that tell you they can help you avoid foreclosure. They are more likely to turn out as scams.

• •    Consult first with family members, friends, or even professionals. Companies who forbid you from doing such are up to no good.

• •    Do not sign papers immediately, not until you have read it or discussed it with people you trust. Fraudulent people would ask homeowners to sign them right away, not giving you enough time to review it. There are cases where documents have hidden deed-transfer clauses, which you may unknowingly agree to by affixing your signature.

• •    Think carefully. Your common sense should tell you when an offer seems too perfect and flawless. When you feel that it is too good to be true, there’s a high probability that it is.

• •    Consult with legitimate organizations. Check out if there are programs by the U.S. Department of Housing and Urban Development (HUD) on foreclosure rescues. They have resources for homeowners facing foreclosure. An HUD counselor can provide you with stuff that you’ll need.

Do not let scammers take advantage of your situation. Foreclosure threat doesn’t have to make you a target, instead, it should make you more perceptive and alert against illegal activities such as foreclosure rescue scams.

Back in 1958, during the production of the Hollywood classic “Solomon and Sheba”, then lead actor Tyrone Power was advised to get further medical check-up before filming in the desert. Tyrone Power, however, declined and said “If there is anything wrong with me, I’d rather not know about it.” A few days later, the biggest star of that era died of a massive heart attack while shooting the film’s climax duel scene.

When it comes to our credit card debt, many of us are like Tyrone Power. We simply like to ignore bad news and pretend that everything is normal just to spare ourselves from too much worry. But no matter how ‘normal’ we act, it doesn’t change the fact that something is still wrong.

The truth is that many us have credit card debt problems. Because of the ease and freedom of using a credit card, our favorite plastic can give us an impression of a false sense of wealth that could easily result to excessive spending. Purchase more than you can afford and you’ll have difficulty keeping up with payment obligations. Maxed-out credit cards and delinquent payments usually lead to a poor credit score.

Many Americans who have trouble keeping current on their debt have an inkling that their credit score is poor. But rather than check their scores, they simply carry on as usual, using their credit cards like always, as though everything were fine.

Perhaps it’s fear or maybe even shame that makes people ignore doing a credit check. Unfortunately, not knowing your score can only make your life more difficult. Bad credit means higher interest rates in your transactions, which in turn compounds payment problems. In the end, you’ll simply be paying more than you should.

But transactions aren’t your only problem with low credit scores. Employers, especially in the financial industry, do a credit check on applicants to assess a person’s responsibility with money. Therefore, poor credit scores also hamper your career opportunities whether you’re looking for your first job or trying to get another one.

Knowing is always better than not knowing. If you have financial problems, check your credit score so you can take the necessary steps in repairing it. You’ve got nothing to lose. You can even get credit reports and other credit repair services online—fast, easy and free.

Why do you need guidance in tax payment? It’s simple: it’s to avoid disagreements and set a rule for making tax payments.

If you are running your own business, part of your responsibility is to pay taxes in a proper and prompt manner. But there are times when you’ll find yourself facing some tax issues that could mess up the filing process.

For example, those in the trucking business may find it difficult to determine which types of trucks are subjected to excise tax. A person working for the film industry might be confused about the amount of tax to pay for acquiring a developed script, while family day care employees may not know whether to use the actual cost of free meals they give to children or the standard rates when computing how much money is going to be deducted in their payments.

These disputes can cause trouble and confusion for many taxpayers. The Internal Revenue Service (IRS) recognizes the problem and is set on finding the answers. That’s why it’s seeking the help of businesses and associations to submit their issues—areas of concerns during tax payment under the Industry Issue Resolution Program of the IRS.

Once an issue is submitted to the IRS, a team comprised of IRS and Treasury personnel will select a particular issue and start gathering important facts and study the implications this would have on taxpayers and other interested parties. The process will result in the creation of guidance (or guidelines) that will be used to resolve the issue.

The following is a list of the recent guidance released by the agency to help taxpayers:

• • Vehicle-Pool Method
• • Heavy Equipment Dealers’ Parts Inventory
• • Facsimile Signatures on Employment Tax Returns
• • Health Care Provider Incentive Payments
• • Work Opportunity and Welfare-to-Work Tax Credits
• • Truck Sale Excise Tax
• • Reporting Employment Taxes in Context of Mergers, Consolidations, etc.
• • Truck or Highway Tractor for Purposes of the Retail Excise Tax
• • Creative Properties
• • Recoverable Oil and Gas Reserves
• • Safe Harbor Method for Treating Fiber Optic Cable
• • Depreciation of Gasoline Station Pump Canopies and Supporting Concrete Footings
• • Standard Rates for Meals Provided by Family Day Care Providers
• • Inventory Valuation Method for Re-Buildable Motor Vehicle Cores
• • Reporting of Payments to Employees Who Owned Heavy Equipment Used by Their Employers
• • Treatment of Restaurant Smallwares Packages
• • Local Impact Fees Associated with Low Income Housing Tax Credit Property and the Treatment with Respect to Eligible Basis
• • Demonstrator Vehicles Provided for Use by Employees
• • Conformity Election by Banks for Bad Debts
• • Certain costs of Golf Course Construction

These issued guidance help both the taxpayers and the government. Because filing becomes faster and more efficient, a great deal of money is saved and reallocated for use in resolving tax issues.

The IRS receives and reviews submissions every six months, and is giving businesses and associations until August 31 to submit their issues. You can go to the IRS website if you wish to know more about tax guidance.