| Glenn Beck: The $53 trillion asteroid
Let's say a giant asteroid was headed toward Earth right now and experts say it has a good chance of ending civilization as we know it. Let's also say that we've known about this asteroid for years but even as it gets closer and closer our leaders do nothing. "Don't worry," they tell us, "The next administration will figure something out." With the future of our country at stake, would Americans really sit back and tolerate that kind of inaction? Of course not -- we'd be sharpening our pitchforks and demanding answers. Well there may not be a space asteroid heading toward us, but there is an economic one -- and the threat to our future is just as severe. You might think that I'm talking about the recession (sorry: potential recession) or credit crisis, but I'm thinking bigger.
Don't Rush To Spend That Rebate Check
Most Americans will soon receive rebate checks from the IRS worth anywhere between $300 to $1,200 or more, and many businesses have already launched marketing campaigns hoping to lure those potential customers.
Yet, many folks will not be eligible for a check at all and could end up in a bind if they've already hit the mall and put extra charges on their credit cards, counting on the rebate cash.
The global tax firm of Grant Thornton says if you belong to any of the following six categories of taxpayers, you should think twice before charging a purchase with plans to pay it off with that "free" government money. You may not be eligible for a rebate -- or at least not for a full or timely one -- if:
You owe the tax man money.
The IRS has acknowledged that it will deduct from all rebate checks any federal tax debt.
Brooklyn Local News: Xaverian freezes tuition
The Board of Trustees of Xaverian High School in Bay Ridge has approved a tuition freeze for the 2008-9 school year. Through a series of aggressive and successful fund-raising efforts, the private college preparatory school halted the one-third increase in tuition for the upcoming school year. Xaverian President Salvatore C. Ferrera, Ph.D., said another factor contributing to the tuition freeze was the consolidation of three different programs. Tax rebate help Individuals who did not earn any income in 2007 but received a minimum of $3,000 in Social Security or Veterans Disability benefits are eligible to receive the economic stimulus package tax rebate. However, these seniors and veterans must file an income tax return with the IRS to receive the $300 tax rebate.
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