If you have gotten married, divorced, added dependents, or can no longer claim previous dependents, you should speak with a human resource or payroll representative at your job to ensure withholdings are correct.

Consequences of Forgotten Withholdings Changes

You may only realize your withholdings are incorrect at tax time when it is too late. On one hand, you may end up with a rather large refund but on the other hand you may end up owing money to the IRS

While you may think getting a refund is a good thing, you need to reconsider the actually situation. When the IRS owes you money, you have essentially given the federal government an interest-free loan. That money could be put to better use by you. You should adjust your withholdings so you break even at tax time and keep the extra money in your paycheck.

More Life Changes

In addition to withholdings information during a change in life’s circumstances, there are likely many other things you need to change and update. It can be a wise move to create and keep a list of financial services, tax information, and other personal services on a spreadsheet which is stored in a safe location.

If you ever need to make an address change, a name change, a married status change, or the like, you will have one master list to refer to so you can ensure all of your relevant information is updated and accurate at one time. Often consumers will forget to update their personal information and basic contact information with creditors, relevant government agencies, former employers, and financial service providers.

Without current and updated information on file, you may not be able to access important tax documents, account alerts and changes, investment details, and other vital information you need for your personal and financial life.

Your master list should include the name of the company, the contact information, and relevant account numbers so you have all you need in one convenient place. Make sure you add and remove new service provider details on the master list as you open or close accounts. This list will make your life-changing duties a much easier and more organized process.

Change Your Life? Check Your Withholdings was created by and is property of American Consumer News.

Here are five reasons you should be paying more attention to your receipts:

Overpayment

To be a savvy consumer you need to ensure you are never overcharged for anything. You should check through your receipt before leaving the store so you can head back to customer service and report the errors to get a refund. Some stores promote other perks like double refunds if pricing is wrong.

Expense Tracking

You may think you can estimate how much you spend in different financial categories but you should utilize receipts to confirm exactly what you spend from month to month for budgeting purposes.

Deductible Proof

In addition to expense tracking, you will also need to hang on to those receipts for income tax time as proof of your spending. This is also true for independent business owners.

Spending Habits

By using your receipts to track expenses, you can use more accurate data to figure out your spending habits. Until you face the reality of how much you spend and how you spend it. This is the only way you will be able to establish an accurate budget and plan for savings to stabilize your financial future.

Receipt Cautions

Saving receipts for your financial planning is important but disposing of those receipts is also something you need to consider. Receipts often give away too much vital information that can compromise your personal and financial information. While many receipts are somewhat discreet, anyone picking up one of your tossed receipts may be able to use the information to rip you off.

Any receipts you are not saving for expense tracking or bank/credit card reconciliations should be properly destroyed using a document shredder. It can be easy to toss the paper into the nearest trash can wherever you are but that will give the public access to your information.

5 Reasons You Should Pay Attention to Receipts was created by and is property of American Consumer News.

How Long Do Tax Documents Need To Be Kept?

In general, the Internal Revenue Service (IRS) recommends that you keep all documents that document any income or deductions that are listed on your tax return until “the period of limitations.” This period applies to the length of time that you have to make amendments to your tax return for making any good faith errors, and that period is usually three years. There are, of course, exceptions to that rule. For example, if you didn’t report income that you should have reported, you should keep your records for six years. If you file a fraudulent return or do not file a return, the IRS recommends that you keep you records indefinitely. Another exception is if you claim a loss from a bad debt deduction or worthless securities. In that case, you should keep your records for seven years.

Keep Old Tax Returns

The IRS recommends that you keep your old tax returns because they can help you file future tax returns and keep track of what you filed if you need to file an amended return.

What Type of Records Should Be Kept?

The IRS recommends keeping records that relate to property until the period of limitations is up for disposing of the property. These records will be needed to figure out the depreciation, amortization, etc. and to figure out the gain or loss after selling the property. Records should be kept on the old and new property until the period of limitations expires when a nontaxable exchange has taken place.

What Other Documents That I Should Keep?

Make sure that you keep all documents that related to your income. These documents include W-2 forms, 1099 forms, bank statements, brokerage statements, etc. Keep track of your expenses by keeping all sales slips, invoices, receipts, and cancelled checks. Make sure you keep records concerning any property that you own, bought, or sold. These documents may be your closing statement, loan paperwork, and insurance records. Don’t forget to also keep track of all your investments.

Can I Shred My Documents When the Three Years Are Up?

It is always wise to err on the side of caution when it comes to your tax documents. Since the IRS has up to three years to challenge your return. Keeping all documents that relate to your tax return for four or more years is probably a safer bet.

Chances are, if you file an honest return you will not have to worry about IRS tax audit, but despite that, you don’t want to find yourself unprepared should you be contacted for one. Keeping honest and accurate tax records will insure your ability to avoid an audit or easily sail through one, if you should be audited.

How Long Should You Keep Your Paperwork After Filing Your Taxes? was created by and is property of American Consumer News.

The tax credit was issued to all working taxpayers and those who receive benefits from Social Security.  However, the system failed to consider those individuals who worked more than one job. Those double-employed were given back $400 at each job, totally $800. Married couples who both worked and make more than $13,000 were eligible for an $800 credit but with new withholding tables, they were also given a $600 increase, for a grand total of $1200.

Those who receiver social security benefits qualified for a $250 payment for their stimulus package. The problem was that many retired individuals also received the tax credit, meaning they received an additional $250 they were not entitled to receive. Retirees will have have the $250 amount deducted from their tax credit when they file their taxes for next year. Others who were overpaid will need to repay the government what they were paid in excess    either by getting a smaller refund back or by paying a larger tax bill.

The tax measure was meant to spur consumer spending again amidst a falling economy. At the time, the money was an asset to many who were in need. Few failed to realize they had been overpaid. Now, the situation can be dire straights for some people who are still barely managing to survive day to day, but are expected to pay the money back to the government long after the money has been spent by a good majority of recipients.

Taxpayers can work to adjust their current withholding status by filing an updated W-4 with their employer. However, there is not much time left until the new year to benefit from the withholding changes. Those who are interested can visit the IRS website to calculate the amount of money that should be withheld to satisfy their tax balance.

You Might Just Owe the IRS Some Cash was created by and is property of American Consumer News.

Here are some tips to keep in mind when checking out tax preparation services:

Conduct Some Interviews
If you found a few companies offering promotions, you would be smart to check them out in person instead of relying on their catchy advertising practices or promotional tools.

Inquire About the Fees Before Committing
Before signing anything or agreeing to services, find out the cost of all the services you intend on using. You don’t want any surprises at the end of the process that will end up costing you more than you bargained for. Stay away from any companies that use your return amount to determine the fee baded on a percentage.

Avoid The “Besters”
Stay clear of the companies that proclaim they can get better or larger refund for you than other companies can. You can check out the different companies with the Better Business Bureau and inquire whether or not they belong to a professional organization that has strict requirements for continuing education credits in accounting practices. Make certain they are registered with the state if required in your area.

Make Sure You can Get a Copy
You want to ensure the company that prepares your taxes will also sign off on them and give you a complete copy of your return. Also avoid any companies that ask you to sign blank or incomplete forms.

Check for Patience
If you initially speak with a company representative who appears to be too rushed to talk to you or answer questions, you might want to consider another service. You want to find someone you can talk to, ask questions of and consult both during the preparation process and afterwards. Ultimately the person preparing your taxes should be working with you with a common goal. If your gut reaction is negative, trust your instincts and move on.

You have the choice to make and making the most informed decision you can will be the best one to make.

Tips for Choosing the Right Tax Preparation Service was created by and is property of American Consumer News.

As we roll into a new year and tax time starts to freak us out, there are some ways to prepare yourself for a more stress free financial year. Starting early and getting organized is the key to starting a new year with a clean slate.

Here are a few simple ways to get ready:

1. Get Organized

Take some time over a weekend and gather together all of your paperwork from last year. This should include finding last year’s tax return information, banking statements, and all of your other monthly bills and statements that have accumulated. If you are not currently using a filing system of any kind, invest in a file cabinet, some hanging folders, and a box of manila folders. Go through all of your paperwork and separate into categories. Shred all other things you no longer need. Make sure you mark your folders clearly and keep important information, such as insurance policies accessible and easy to find. As the year moves along, keep up with your filing system so you can skip this step next year and always be organized. There is nothing more frustrating or un-motivating when you have to go searching all over different parts of your house to find what you need. Storing it all in one place, in an organized manner may keep you focused on paying down your debts and finding more financial freedom.

2. Create a Budget & Track Your Spending

Now that you know where all your paperwork is, you should review all of your balances and start making a budget with the goal of paying down your debt. Along with your budget, start first thing in the new year to track where you are spending every penny of your money so you can create a more reasonable budget and figure out how and where to trim your spending.

3. Start Using Cash

While it might be tempting to spend cash when it is burning a whole in your pocket, start learning to visit the bank or ATM once a week and withdraw your budgeted allowance. You will no longer have to deal with balancing your checkbook, following up on debit transactions, or worried that you have overdrawn your account. This can also help you stop using your credit cards as often, which will help you work toward your goal of paying off your debts, since you are not accumulating new ones.

4. Automate Bill Payments

Since you no longer have to worry about overdrawing your accounts now that you are using cash, sign up for as many automatic bill pays you have available to you. This eliminates the bills you have to worry about paying on time each month to avoid late fees.

5. Automate Savings

Make a trip to your human resource department after the holiday and find out the process for making direct deposits to your savings account each pay week. Since the money is automatically taken from your pay and put into savings, you are likely to be able to successfully maintain and build your emergency fund.< >< ><–>

Make Financials Simple in 2009 was created by and is property of American Consumer News.

Actually, you may not have to pay afterall. As a taxpayer, you need to be aware of what deductions you can legally claim in order to lower your taxable income and increase your odds of getting back a tax refund. If you want to receive thousands of dollars from the government instead of paying, you want to try and qualify for something called the Earned Income Credit or EIC (also called the Earned Income Tax Credit or EITC). There are many tax write-offs that people can take (whether you are a business owner or not) that will qualify you for this credit, and you should take advantage of them. They are set up for the express purpose of helping any taxpayer with a pulse…and a social security number. Below is a list of my ten favorite. Although this is not a complete list, these ones are the easiest for anyone to gather and qualify for.

WHAT IS EARNED INCOME CREDIT (EIC)?

Here’s how taxes work (plain and simple). You make money and you pay tax on that money. The more money you earn, the more tax you pay. (Duh, right?) What you may not be aware of is that if you fall within the low-income tax bracket, you could be due a cash credit towards your taxes equaling as much as $4,710. It’s called the Earned Income Credit and offers low-income workers the opportunity to pay their taxes with the government’s money. And guess what…if you have a larger credit then what you owe, the government will send you that money as a refund.

Here’s How You Qualify:

• If you have more than one qualifying child, and you earned less than $37,783 ($39,783 if married filing jointly), you can qualify for as much as $4,710 of EIC.
• If you have one qualifying child, and you earned less than $33,241 ($35,241 if married filing jointly), you can qualify for as much as $2,850 of EIC.
• You do NOT have a qualifying child, and you earned less than $12,590 ($14,590 if married filing jointly), you can qualify for as much as $420 of EIC.

If you would like to know exactly how you rate, go to this link at the IRS’s website and play with the numbers until you have an idea of how much you might be able to qualify for: http://apps.irs.gov/app/eitc2007/ShowCalcTips.do

TAX DEDUCTIONS

Now that you have an idea, here are legal tax deductions that will get anybody a better refund.

1. Standard Mileage: This is my favorite of all the tax deductions. It is a valid expense that totals up the miles you drive in relation to business, medical, moving or charitable events, and reduces your income accordingly. Even better, most mortgage companies do not consider it a valid expense when calculating your income for a home loan, thus qualifying you for a larger mortgage. For 2007, the rate is calculated as follows:
   1. $0.505 per mile driven in relation to a business event that you were not reimbursed for. This reduces your income $505 for every 1,000 miles you drive.
   2. $0.19 per mile driven in relation to medical and moving expenses (or $190 for every 1,000 miles).
   3. $0.14 per mile driven in relation to charitable events ($140/1,000 miles).

1. IRA Deduction: Until April 15^th of any given year, you can deposit up to a pre-specified amount into an IRA and reduce your income for the previous year. By doing so, you not only keep money that you might otherwise be paying to the government in taxes, but you are securing your future. (To see all of the limits for an IRA deposit, click here: http://www.irs.gov/formspubs/article/0,,id=117542,00.html).

1. Health Savings Account (HSA): If you qualify, you can open an HSA. An HSA is a tax-deductible and tax-exempt savings account that can be used for any kind of medical expenses without federal tax liability. To see if you qualify, click the following link: http://www.irs.gov/publications/p969/ar02.html#d0e159

1. Qualified Tuition Program (a.k.a. Plan 529 or Coverdell ESA): There are several college savings accounts that offer tax deductions, including a 529 Plan or a Coverdell ESA. These accounts can be setup before April 15^th and allow you a tax deduction. Just check with your local banker or financial planner to set one up and take advantage of the tax deduction. Click here for more information: http://www.irs.gov/pub/irs-pdf/p970.pdf.

1. Alimony Paid: You can deduct alimony or separate maintenance payments made under a court order.

1. One Half of Self-Employment Tax: If you have paid self-employment tax (social security tax and/or Medicare tax), you can deduct the amount of your taxes.

1. Self-Employed Health Insurance Deduction: If you are self-employed, you can deduct the cost of health insurance for yourself, your spouse, and your dependents.

1. Moving Expenses: If you moved more then 50 miles for a job or business, you can deduct the costs for moving your possessions, travel and lodging for you and your family.

1. Student Loan Interest Deduction: You can deduct a maximum of $2,500 of interest on a qualified student loan per return.

1. Qualified Higher-Education Expenses: If you attended a qualified higher-educational institution (including graduate school), you can deduct attendance costs. These costs include tuition, fees, room and board, and an allowance for other necessary expenses, as determined by the eligible educational institution.

As I stated before, there are many other deductions as well, such as your mortgage interest. Check to see if your state offers a Renters Credit.  California is offering a $60 credit.  If you are a home owner, check with your county’s local assessor’s office to get your homeowner’s property tax exemption credit.

Get a Big Fat Tax Refund was created by and is property of American Consumer News.

New Tax Brackets, Higher Standard Deductions & Higher Personal Exemptions – Tax Brackets and the standard tax deduction increase every year by the rate of inflation. You’ll also be able to deduct more for each of your dependent family members as the amount of money you can deduct for a personal exemption has increased as well. This mean that you’ll end a smaller amount of taxes if you made the same amount of money as you did last year. You can view information about this year’s tax brackets here.

Increased Business Mileage Rates – You’ll be able to deduct more of depreciation if you own a vehicle and use it for business purposes. In 2007 you could deduct 48.5 cents per mile, and in 2008 you’ll be able to deduct up to 50.5 cents per mile.

New Rules for Charitable Giving – The IRS is attempting to clamp down on fraudulent charitable giving this year by making it so that you cannot deduct a cash donation unless you can provide a record of the contribution. These records include a notice from the charity, a cancelled check, or a bank statement.

Limits on Itemized Deductions for the Wealthy - If you and your spouse make more than $159,950 or if you are single and make more than $79,975 this year, you may lose a portion of your itemized deductions.

Increased Roth IRA Contribution Limits – In 2007 you could deposit up to $4,000 into a Roth IRA and have the investment be completely tax free. In 2008, you will be able to deposit up to $5,000 and have all of the earnings on that money be tax free. Those over 50 can deposit up to $6,000 this year as their catch-up contribution.

Better Tax Breaks for College Students – The amount of money that your family can make and still be qualified for the Hope & Lifetime Learning credit increases to a sliding scale between $47,000 and $57,000 in 2007 and between $48,000 and $58,000 in 2008.

Improved Adoption Credits – Taxpayers can now deduct a maximum credit of $11,390 when they adopt a child. You must make less than $210,000 to qualify for any or all of this credit.

PMI is now deductible – If you had to purchase private mortgage insurance as part of your mortgage, you will now be able to deduct the amount you pay.

Increases in Alternative Minimum Tax Limits – The alternative minimum tax limits were raised for the taxes filed on 2007 income by a bill in congress late last year. This number will drop down significantly next year unless congress reforms the legislations

New Tax Law Changes for Your 2008 Federal Income Taxes was created by and is property of American Consumer News.

Pretty soon we’ll all be looking for deductions, gathering our 1099 forms and the like and putting together our tax forms for the year and sending them off to the IRS. In addition to your social security and Medicare taxes, here’s how much income tax we’ll be paying in 2008.

Single Filers
10% on income between $0 and $8,025
15% on the income between $8,025 and $32,550; plus $802.50
25% on the income between $32,550 and $78,850; plus $4,481.25
28% on the income between $78,850 and $164,550; plus $16,056.25
33% on the income between $164,550 and $357,700; plus $40,052.25
35% on the income over $357,700; plus $103,791.70

Married Filed Jointly
10% on the income between $0 and $16,050
15% on the income between $16,050 and $65,100; plus $1,605.00
25% on the income between $65,100 and $131,450; plus $8,962.50
28% on the income between $131,450 and $200,300; plus $25,550.00
33% on the income between $200,300 and $357,700; plus $44,828.00
35% on the income over $357,700; plus $96,770.00

Married Filing Separately Filing
10% on the income between $0 and $8,025
15% on the income between $8,025 and $32,550; plus $802.50
25% on the income between $32,550 and $65,725; plus $4,481.25
28% on the income between $65,725 and $100,150; plus $12,775.00
33% on the income between $100,150 and $178,850; plus $22,414.00
35% on the income over $178,850; plus $48,385.00

Head of Household Filing Status
10% on the income between $0 and $16,050
15% on the income between $16,050 and $43,650; plus $1,145.00
25% on the income between $43,650 and $112,650; plus $5,975.00
28% on the income between $112,650 and $182,400; plus $23,225.00
33% on the income between $182,400 and $357,700; plus $42,755.00
35% on the income over $357,700; plus $100,604.00

2008 Federal Income Tax Rates was created by and is property of American Consumer News.

The Joy of Giving – A lot of people will never appreciate what their money goes to until they see their charitable donations changing lives, whether it being seeing a 16 year old girl with a single mother getting a Christmas present for the first time in her life, a needy child getting a book-bag full of classroom supplies just before the first day of school, or someone receiving much needed medical care they would not have otherwise received. Once you see people truly affected by your gift, you’ll find an indescribable joy!

A Tax Deduction – You shouldn’t start writing checks just because you get a lower tax bill at the end of the year, but it’s another reason to give. Nobody likes to give money to the IRS each year, and being a generous giver will lower that bill each year. You can claim donations made to charities as a 501(c) as tax deductions. This means that if your tax-rate is 25% and you donate $1,000, you’ll have to pay $250 less in taxes each year.

Doing Good in the World – Remember what we’re doing here. We’re donating money to an organization that will work to help those in need. It doesn’t even need to be to an organization in need, you can just help someone where you see a serious need in their lives. There are a lot of situations that people find themselves through no fault of their own where they just need a bit of help. By us being charitable and helping our neighbors in need, we help them and eliminate the need for any inefficient centralized government programs to deal with those types of issues.

Giving Helps You Simplify – There are charitable organizations such as Good Will that will take your unwanted possessions, sell them and use the profits to help fund charitable causes. There are also organizations that will take used vehicles, used computers and the like and put them to good use for you. You could also hold your own charity garage sale to get rid of stuff as well. Giving is a great way to simplify your life and get rid of some of your extra material possessions that you really don’t want or need.

A lot of people who don’t give (I used to be one of them), did so because they wanted to keep their money and get ahead in the world and giving away one’s money doesn’t make their wealth accumulate in the slightest. If this sounds like you, find a charity you like, go down and visit it and write a check. Give giving a chance, you just might like it.

4 Reasons to Become a Generous Giver was created by and is property of American Consumer News.

December is the single biggest month for charities and other non-profit organizations. People are looking for ways to lower some of their taxes and the spirit of Christmas is upon us—and that means donations, lots of them. Some charities estimate that they make 20% of their annual income in the month of December alone. If the holiday season has moved you to make a charitable donation, there might be a way to give away the same amount of money, but have an even better tax benefit.

Most people write a check to their favorite charity, take the tax deduction, and call it good. This is not the best way to go if you have any sort of investments. You are actually much better off to make a donation of mutual funds or stock to your non-profit organization of choice. By donating an investment instead of stock, you will not only get the standard tax donation for donating to a non-profit organization, but your investment will also be free of tax on any capital gains that you might have had through the investment.

For the sake of this discussion, let’s say that you purchased $500 of stock 2 years ago, and now that stock was worth $1,000. If you donated $1,000 of cash, you might get $250 back from the tax deduction you’ll receive. If you donate $1,000 of stock, you’ll $325 back in the form of the tax deductions and the savings on capital gains. You’ll still be giving the same amount of money, but you’ll get a much better deal when it comes to your taxes.

Most charities will be happy to accept your stock, but some might not be equipped organizationally to receive stock donations. These will be smaller charities that don’t have a large infrastructure in place. In that case, you can just go ahead and pay cash as you normally would.

The charity will then be able to take that investment that you have, keep it and let it grow money, or sell the investment and make use of the cash to help pay for their operating expenses. It might be a few pages of paperwork to make the donation happen, but it’s well worth it when it comes to your taxes. In order to make this all happen, you can talk to your investment firm and they should have a process for transferring your stock ownership over to your favorite charity.

Donate Shares of Stock and Get Double Tax Savings! was created by and is property of American Consumer News.

Local governments see out-of-town travelers, especially those who are there for business, as major targets for taxation. These people who are traveling have no say in what taxes they have to pay and they won’t be around long enough to do anything about it, so they’re just stuck paying the high taxes. Cities and counties frequently charge taxes on a per-room basis for hotels, taxes on car rentals, and taxes on other services that are frequently used by travelers. Local governments know that voters are much less likely to revolt on a tax for people who do not live in their locality, so they gouge travelers whenever they pass through.

Hotels are another frequent offender of charging extra fees on top of what the room supposedly “costs” to stay in. Before you book your room, make sure to check and see if there are any daily facility fees that you have to pay. When shopping for a hotel room, do as much comparison to see what the actual cost will be as possible. Expedia’s hotel room search service does a good job at including the miscellaneous fees that hotels tend to add on.

Airlines will frequently charge you a passenger facility charge or PFC that’s a big cost. Terminals will sometimes charge you for passing through their halls, and Congress approved it. There are also charges for federal security service, charges per flight segments, and the list goes on. The pricing that you see for a ticket will be very disingenuous, so when you think you are getting the best deal, you might be getting ripped-off.

Air Ports, Hotels and Local Governments Charging Out of Control Junk Fees and Taxes to Travelers was created by and is property of American Consumer News.

With a total of 8 Democratic candidates, 8 Republican candidates, and a number of independent candidates running for president, it’s a hard choice to figure out which individual (if any) should get your support. Perhaps the best way to decide whom to endorse is by examining all of the candidate’s proposed policies and seeing which of the presidential candidate’s plans will be the best for you and your individual financial situation. So, which candidate would be best for you in the 2008 race?

You’re welcome to accuse me of being one of Ron Paul’s “irrelevant internet supporters” but his policies will unequivocally put the most money back in your pocket. First of all, Paul wants to make participation in Social Security voluntary. This means you would get the 12.4% of your income that the government takes from you to pay for Social Security Back. If you make $40,000 a year, you just earned a $5,000 raise each year! With $5,000 you can easily pay for the disability coverage that Social Security Provides and have a retirement plan that will yield you much more money than Social Security would.

Paul also hopes to eliminate the Internal Revenue Service once and for all and substantially reduce the size of the federal government. This would essentially put the 10%, 15%, 25%, or 33% that you pay in Federal income taxes and put it back in your pocket. That’s another instant raise right there. You could then use that money in whatever manner you wanted and would not have to subsidize all of the ‘services’ that the government offers, the vast majority of which you do not use or benefit from. Most of the services, such as roads, hospitals, and schools that we actually do use are funded by state and local governments, not the Federal government.

Finally since Ron Paul wants to significantly reduce the size and scope of government, the economy would blossom. Without all sorts of meddling from the federal government, small businesses and companies could flourish like never before. Each business would decide what the best practices for running their business model are and not have the government’s cookie-cutter standards enforced upon them. There would be all sorts of added competition in the business world to provide you the best deal for your money. Prices would certainly go down, and you would have a lot more money in your wallet at the end of the day.

With the Paul Presidency, you would get all of your Social Security money back, your income taxes back, and a lot more competition in the business world which would lower prices. All of the other candidates have proposals to spend more tax money that the government just doesn’t have, but not Ron Paul.

Editorial: Which Presidential Candidate Would Put the Most Money Back in Your Wallet? was created by and is property of American Consumer News.

ABC was onto something when they developed the idea for Extreme Makeover Home Edition. It was a dramatic change from the typical serial-dramas and sitcoms that we see on prime-time television these days. Millions of Americans watch the show each week, and now state and federal government are coming in and messing with the lives of the families which have been blessed by the show. It’s hard enough to go through the things that those families did, especially when most of them lived in very poor living conditions. The last thing they need is the government coming in and taking their new found blessings away.

Let’s take a look at the Llanes family. Before the show they have a small split-level home with very steep stairways and faulty plumbing. That home was valued at around $220,000 a year and they paid $6,110 annually in property taxes according to the city’s tax assessor. After the folks from Extreme Makeover Home Edition came in the city evaluated their new home at $497,000 adding an additional $8,440 to the $6,110 they were already paying annually. It’s unconscionable to think that that a family with two nearly-blind daughters and a mother with thyroid cancer that’s in remission should have to cough over $10,000 extra a year just so that the government doesn’t take their house away from them.

The folks at Extreme Makeover Home Edition know that it’s often too much for the families who receive new homes to pay for their dramatically increased taxes, so they are afforded some additional funds to help defray their property taxes. Sometimes they will be shown holding a benefit event on the show to help raise money for the family. Of course that money won’t last forever and the families will have to begin paying enormous amounts property taxes to their local government. The worst part of all of it is that the money given to the families to help pay for their property taxes can be subject to Federal gift tax, so if the show or an individual makes a large contribution to the family in need, they have to pay the IRS for the privilege of doing so, it’s sick!

The Llanes family isn’t the only one who’s been hit with a huge property tax bill. Brian Wofford and his family were on the show and given a new home valued at $410,000. After the building was complete he received a “supplementary property tax assessment” bill for $2,700, and that’s on top of the taxes he had already paid for the entire year! Stephen Johnson, a firefighter from Jackson County Florida, was issued a $3,891 “supplementary property tax assessment” tax bill after being given a new home from the kind folks at ABC.

Why can’t the government just leave these people alone? Out of all the people to pick on to pay for their programs, why does it have to be the families with debilitating diseases, traumatic losses, and all sorts of other pain that we can only begin to imagine? Why can’t the government just let Extreme Makeover Home Edition bless these families and leave well enough alone?

How the Government is Ruining the Lives of Families Blessed by Extreme Makeover Home Edition was created by and is property of American Consumer News.