The powerful dollar is not as powerful as it used to be which is also the result of the growing number of tax delinquents. They are filing for bankruptcy, succumbing to foreclosures, and having their assets seized. As number of these are increasing all across the country, the government has decided to apply damage control by means of tax relief.
To stimulate the deteriorating economy, the government is sending tax relief checks to over 117 million taxpayers this year, including those without taxable income but who still file their taxes. You can get sums between $300 to $1,200, and even more if you have dependents. The key thing is that your taxes are filed on time. Consider it a little recompense for fulfilling your tax obligations.
With the sinking economy, why is the government being so charitable with their citizens, and can they afford such kindness? In fact, tax relief checks could increase cash flow in local economies, since the government believes that the taxpayer will spend their extra dollars to buy local consumer products. This, in turn, generates income for the quite a few businesses and suppliers that helped to make your purchases happen.
Alternately, people who get tax relief checks could use some of it to start their own company, even a small one in their garage – like selling cookies per order, for instance. It gives boost to economy instead of remaining stagnant, as it would happen with all the debt weighing it down.
The IRS is also providing many tax relief programs for those with big delinquencies. To effectively qualify for a tax relief program, seek advice of a qualified tax professional on how to apply for tax relief.