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What does it mean if you receive a letter from the IRS stating you owe the exact amount that was 'charged off' four years ago on a credit card?
Such amounts **may** be included in your income, but are subject to several very important exclusions. Consult a tax advisor regarding this letter -- generally as many as 80% of individuals receiving such letters need not make any change to their tax situation.
What else can I help you with?
Who is charged for misusing credit cards?
People who misuse credit cards are charged for misusing credit cards.
When do you debit and when do you credit an account?
Another account will receive a "credit" entry, meaning the amount will be (You can refer to the company's chart of accounts to select the proper accounts}.
Does it matter what was charged on my credit card and when it was charged?
Yes.
What is the term used to describe the dollar amount of periodic interest charged by financial institutions on credit accounts?
annual percentage rate
How much do you have to earn in order to receive the child tax credit?
The credit reduces your taxable income by up to $1,000 per qualifying child, so your income must be at least as much as the amount of the credit you claim. Otherwise, there is no income for the credit to reduce. If you make less than the amount of the Child Tax Credit, you may still qualify for the Additional Child Tax Credit.
What is the maximum amount that can be charged on a credit card at one time?
The maximum amount that can be charged on a credit card at one time is determined by the credit limit set by the credit card issuer. This limit varies depending on the individual's creditworthiness and financial situation.
How is a line of credit similar to a credit card?
Interest is charged only on the amount you actually borrow
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
Can you claim eic if you do not claim income?
No. You must report income to receive the Earned Income Credit. You must file a tax return to receive the credit, even if you otherwise would not have to. Any amount of the credit over the amount of taxes you owe will be refunded to you.
Can you pay the mail with credit card?
Well technically you can but ..there is one problem which will occur whilst paying over email , its that you will get charged for compensation and you will receive a large amount of beetroot through your cat flap due to tony blare.
Do you lose the credit if you fail one semester?
You do not receive credit for failed courses.You do not receive credit for failed courses.You do not receive credit for failed courses.You do not receive credit for failed courses.You do not receive credit for failed courses.You do not receive credit for failed courses.
Is it true that if you have a due date on a credit card bill of the 1st of the month and they don't receive it until the 5th but it was postmarked on the 1st or before they can still charge a late fee?
Most companies have a side note stating that the payment must be RECEIVED in their office on the due date, otherwise you will be charged a late fee.
How do you pay for a app on your iPod touch?
Once you have an account with your billing and credit card information once you press a paid app it will be charged on your credit card and you will receive a bill in the mail.
What happens when you get a refund on a credit card with a zero balance?
When you receive a refund on a credit card with a zero balance, the refund amount will typically be added as a credit to your account. This credit can be used towards future purchases or you may request a check for the refunded amount.
Rolex borrowed 3200 from his credit union for 4 years he was charged 9.8 percent simple interest what was his total amount he owed the credit union?
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Who is charged for misusing credit cards?
People who misuse credit cards are charged for misusing credit cards.
What does it mean to pay interest on a loan or credit card?
Paying interest on a loan or credit card means that you are charged a fee for borrowing money. This fee is a percentage of the amount you borrowed and is added to your total repayment amount.
