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Bad Advice From The IRS? How Your Credit Report Can Get Your Fired! Keeping Your Computer From Being A Source Of Headaches For Your Heirs
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Air date: September 10, 2003
We've got several topics we're going to hit on with you this morning and right outta the blocks, you're warning consumers about seeking tax advice from the IRS? What's wrong with this picture?
BFD: IRS centers established to help people prepare their tax returns gave incorrect answers - or no answer at all - to 43 percent of the questions asked by Treasury Department investigators posing as taxpayers. The investigators concluded that half a million taxpayers may have been given wrong information between July and December 2002. Read the entire story here.
Bottom line? The IRS hopes to improve its track record and answer 80 percent of the questions correctly this year, and 85 percent correctly next year. People who believe they were given bad advice that brought about an IRS audit can appeal through the IRS' appeal division or the federal court system.
Question 2: There was a story last week about a janitor that lost his job because of some information reported on his credit report...what happened? And could it happen to anyone?
BFD: A judge revoked the security clearance of a janitor at defense contractor Lockheed Martin because of a Defense Department policy that flags workers in financial trouble. Defense Department policy states that people in financial trouble may be tempted to sell military secrets to escape debt. Read the entire story here.
Question 3: You've got a warning for people that store or track all of their financial information on their computers, especially older consumers. What's the deal, Ben?
BFD: We protect our passwords and PINs because we've seen too many cases involving stolen or compromised passwords and PINs that have financially damaged private citizens and huge corporations alike. But there was a recent story about a new problem facing more and more family members. Financial data locked away in password-protected computers! Read the entire story here.
Ben's 6 Financial Password Safety Tips
1. Create your master list of passwords and lock it away in your safe deposit box. Don't have a safe deposit box? Leave the list with the lawyer who drafted your Will.
2. Tell your executor and/or spouse the password.
3. Write the list on a sheet of paper and place it in a folder with your Will and power of attorney
4. Don't include the password in the actual text of a Will, because when the Will is entered in probate, it becomes a public document. Your password will be out there for the world to see.
5. Don't try to avoid the problem by using an obvious password, such as your birth date, child's birth date, or pet name. Oh yeah, one of the most common passwords many people often use is "password," so you'd better do better than that, too.
6. Duh! Don't keep your password list in your computer.
Interest rates are bumping up fast...and home sales are starting to take off since so many people are afraid they'll miss these record-low interest rates. Now really is the time to buy a home...or if you're thinking about getting divorced, re-finance and take the other spouse outta the picture once and for all! Interest rates are still lower than they were a year ago, so read what the big shots are saying about the future of those (still) incredibly-low interest rates. And since we're on the topic of good timing, what are you waitin' for? Cash in and lock in the lowest rate in decades by re-financing your current mortgage and cut 10 to 15 years off your term! It's easy to get educated about the process first...and the price is right! (Free!) Everything you need to know can be found on-line; get your own copy of Bens' 2003 Home Buyer's Guide by clicking here.
Now that you're motivated to buy a house, or trade-up from your current home...how would you like to get some cash back on your next home purchase (or sale)? (I'll show you how.) Click here.....
Okay, so you're about to move; it's time to go down your "things to do" checklist: Moved your phone service and utilities? [Check!]Put in your change of address on your mail? [Check!!] Have all of your belongings held hostage by some rogue movers? [Check...not!!!] Do your homework (first) and choose the right moving company! Ben's Moving Tips will save you time, money and lots-o-heartache.....
In the market for a new set of wheels? Don't be seduced by radio-commercial claims by car leasing companies that want to get you hooked, wear you down and beat the daylights out of you! Check out Ben's free Smart Car Seminar automotive acquisition tips right here!
Here's the first and last automobile leasing company you'll ever need to deal with, no matter where you live: Ben's no-brainer choice is Manufacturers Auto Leasing: They have loyal clients across the entire state of Texas and around the nation. Why? Because they'll take care of you better than anyone else out there!
By the way: If you're facing one of those upside-down scenarios (car business term meaning you're financially buried), or maybe you simply want to bail on your current vehicle and need someone to get creative on your behalf, Manufacturers Auto Leasing is the best in the business. Period.
Cable or satellite? You may already know why Ben dropped his cable company in the grease after being a loyal customer for 16 years...but now The New York Times did their own comparison last week that's really worth the read.
If you do decide to cut the cable, or hook-up with satellite TV, the choice really is simple: First off, it's probably not as expensive as you might think...and those satellite TV installers ["great service or else"] put the cable guy to shame. Here's Ben's easy pick.....
Time to get off your butt and start making travel plans for the Thanksgiving holiday weekend! (You're on the clock and it's now 88 days away): Stretch your travel budget and get your Thanksgiving or Christmas-time travel planning handled now. Check out Ben's no-brainer choice for hotel room or condo deals: www.hotels.com.
Still looking for a cool birthday (or other special occasion) gift that'll keep on giving, all year long? Then give 'em a subscription to the Dose of Dover...the most reliable source of insights and no s*** ideas available on the planet. (You can afford it...it's free!) Time to share the wealth! Sign-up for a subscription to the weekly Dose of Dover Newsletter right here!
If you (or someone you know) is even remotely thinking about joining some non-profit credit counseling service, hiring a debt re-negotiation company or filing for bankruptcy, you might wanna read this first: Trust me, you'll be more informed and a lot more grateful 10-minutes (or less) from now.....
It's probably time you got that unfinished business with your pals at the IRS handled for (hopefully) good: Tie down those tax-related loose-ends on your terms and get a deal worked out before it's too late. Non-filers...innocent spouses...941 (payroll taxes) for the entrepreneurs amongst us: Know all your options and learn why hiring an Enrolled Agent probably makes the most sense.
It's time to level the playing field with the long-awaited new edition of Back Off! The Definitive Guide To Stopping Collection Agency Harassment:
Read sample chapters from the new book!
Get the inside scoop on those "non-profit" credit counseling agencies.
Read all about the biggest thugs operating under the noses of authorities, rogue collection agencies that terrorize unwitting consumers.
Got credit problems? (Know someone who does?) Wanna know more about the inner-workings of that black hole known as the credit reporting bureau? You can get a digital copy of Ben's 1993 (#5) bestseller Life After Debt on-line, right now. Read how right here.....
Wanna buy your first home...or a bigger home...or just re-finance? Interest rates are STILL at incredibly-low levels...so quit waiting on guessing the winning 6 Lotto Texas numbers: Ben's no-brainer choice for any/all of your mortgage needs? Easy...do it all on-line or on the phone with the official mortgage company of www.benjamindover.com and your first (and only) stop: W.R. Starkey Mortgage. Hit their website or call their main Dallas-Fort Worth office toll-free: (888) 282-6632.
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