| 25 September 2009
Below is a recap of some of the topics discussed on this broadcast
David & Heath discuss a topic that affects 10 out of 10 families. Taxes! This is a must listen to show.
Headlines:
Headline: IRS tax revenues fall as along with tax-payers income: David and Heath discuss this article and the fact that federal tax-revenues have drooped 44% from the previous year.
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Listen in to hear how this could impact your family. This has contributed to the projected 1.7 trillion dollar deficit in 2009 alone. For more information about this topic, see our broadcast: Federal Budgets, Trillion Dollar Deficits.
David and Heath talk about the new increase in the federal minimum wage. Is this a good thing for workers? David and Heath discuss pros and cons of the increase in the Federal minimum wage. At it's face value, it sounds like a great thing, but is there any downside when the minimum wage is increased?
Relevant Links:
U.S. Dept. of Labor History of Minimum Wage
Article: Minimum Wage Hits $7.25 as some businesses strain
ASK THE EXPERT:
David & Heath invited Michelle Drumbl on the show to discuss a very important topic to the American family: Tax problems with the IRS. Michelle is the Assistant Clinical Professor of Law and Director of the Tax Clinic in VA. Listen in to find out what to do when you have problems with the IRS and you can't afford representation. You may be able to get help with your IRS troubles for free. Low Income Taxpayer Clinics operate in all 50 states and are a result of the IRS Restructuring and Reform Act of 1998. These tax clinics assists low-income tax payers who are having trouble with the IRS.
Some of the questions answered during this insightful interview include:
- Where does someone turn when they get in trouble with the IRS?
- What happens if someone owes the IRS and they can't pay?
- Is it possible to settle with the IRS for pennies on the dollar?
- What does someone need to do if they have not filed their taxes for several years?
RELEVANT LINKS:
List of Tax-Payer Clinics by State (Official IRS Website)
List of Tax-Payer Clinics by State (PDF format)
About Michelle Drumbl:
Professor Drumbl is the Director of the School of Law's new Tax Clinic. Clinic students represent low-income taxpayers in resolving their controversies with the Internal Revenue Service, provide outreach to individuals who speak English as a second language on their rights and responsibilities as U.S. taxpayers, and engage in tax and administrative policy advocacy. Read Michelle's full Bio
Heath and David talk investing including tax-free investments:
We all know Social Security won't be there for many young families. Heath and David talk about the importance of investing now for your future. Tune in to hear practical advice for families in all types of financial situations.
