The almighty dollar is not as mighty as it used to be and one of the reasons is the growing number of tax delinquents who are filing for bankruptcy, succumbing to foreclosures, and having their assets seized.
As evidence of these are growing all across the country, the government has decided to administer damage control by way of tax relief.
To stimulate the flagging economy, the government is issuing tax relief checks to over 117 million taxpayers this year, even to those without taxable income but who still file their taxes.
You can receive amounts between $300 to $1,200, and more if you have dependents.
The important thing is that your taxes are filed on time.
Think of it as a little reward for fulfilling your tax obligations.
With the economy dropping, why is the government being so generous with their citizens, and can they afford such generosity? Actually, tax relief checks could help cash flow in local economies, since the government hopes that the taxpayer will spend their extra cash to buy local consumer goods.
This, in turn, generates revenue for the several businesses and suppliers that helped produce your purchases.
Alternately, those who receive tax relief checks could use some of it to start their own business, even a small one in their den - selling cookies per order, for example.
The economy then flourishes and does not remain stagnant, as it would with all the debt weighing it down.
The IRS is also offering many tax breaks for those with outstanding delinquencies.
To successfully qualify for a tax relief program, ask a professional tax expert for advice on how to apply for tax relief.