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taxes: Federal Income Tax Deadline Extended To April 18, 2011 - 03/09/11 10:39 AM
April 15 is the traditional due date for federal income taxes. It's a deadline so ingrained in the American psyche that the April 15 calendar date is often called, simply, "Tax Day".
In 2011, however, federal taxes aren't due April 15. They're due April 18. It's because of a combination of holiday, calendars, and tax law.
The change centers on Emancipation Day. Emancipation Day is a public celebration in the District of Columbia. Named a holiday in 2005, Emancipation Day honors President Abraham Lincoln's April 16, 1862 signing of the Compensation Emancipation Act. Emancipation Day is a non-working day … (0 comments)
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taxes: What is an escrow account for taxes and insurance? - 02/07/11 09:05 AM
When a buyer chooses a loan program with less than twenty per cent as a down payment, an escrow account for taxes and insurance is generally a requirement of the loan program. In most cases the only way to opt out of an escrow plan is to have twenty per cent down (or more) while choosing a conventional mortgage loan.
For the borrower the escrow account makes saving for these critical payments easy. Rather than saving for these bills and paying them on their own, a borrower allows the loan servicer to calculate the amount due and make the payments for … (0 comments)
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Peter Lindquist - NMLS # 389212
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