Myth: You should avoid paying off "good debts" like home mortgages so you can get a bigger deduction on your taxes. Truth: Making any financial decision based solely on the amount of a tax deduction is a really, really bad idea.
Over the last year or so, I've been receiving an email from the "IRS" telling me there is an extra tax refund available to me. Sounds great, especially in tax season but there's a problem with the letter. This letter is a phishing scam. Don't fall for this.
What it means for you.
There has been an awful lot of discussion in the news about the Economic Stimulus package. There has also been a lot of confusion. Today we’ll try to shed a little light on the package and what to do with the money if you qualify.
What you will get: According to the IRS web site, “Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. […]