March 15, 2000

Welcome to 0nly4Homebuyers Issue XVIII
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of your own? Creative Mortgage Company offers home loans for new
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In this Issue:
TeleFile and Filing Taxes from your PC
Home Sales Profits and Tax Rules
Identity Theft- Protect your Identity
Top Ten Ways to Save on Gas
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Dear Readers,
Since it is so close to Tax Time, I thought it would be appropriate to
tell you about a couple different options available for filing your
taxes. The articles below are very informative.

TeleFile: Your Easiest Way to File (IRS)

TeleFile, the IRS' file-by-phone option, offers many people the
quickest, easiest way to file a return. "TeleFile is easy. People who
use it, love it - they become our best ambassadors for the program,"
said Bob Barr, IRS e-file executive. Last year, 5.7 million people filed
their tax returns with a simple 10-minute phone call to the IRS. And why
not? It's fast, accurate, and TeleFilers get their refund faster. With a
touch-tone phone, TeleFilers enter interest income, any unemployment
compensation and the wages, tax withheld, and employer identification
number (EIN) from each W-2 Form. Those taking advantage of direct
deposit for a refund to be deposited directly into their bank account
and those choosing the direct debit option for the payment of tax due
also enter the required checking or savings account number. The call
takes about 10 minutes. TeleFile figures the adjusted gross income,
standard deduction, exemption, taxable income, tax, and earned income
tax credit, plus any refund or tax due while the taxpayer is on the
phone. A customer service number contained in the TeleFile package acts
as the taxpayer's signature. A confirmation number, before the call
ends, indicates that the IRS received the return.

Refunds arrive in half the time as with a paper return and any tax due
can be paid as late as April 17, 2000. The IRS sends a special
instruction booklet with easy step-by-step instructions to those who may
be able to use TeleFile. With this booklet and a touch-tone phone,
people can file their return at any time, 24 hours a day, 7 days a week.
Only those who receive the TeleFile booklet can use TeleFile, so it's
important to keep the booklet in a safe place. Most TeleFilers will find
all the instructions they need on pages 3 through 7. Just fill in the
tax record in the booklet, pick up a telephone, and call the toll-free
number listed in the booklet. It's completely paperless - there are no
forms to mail, and it's absolutely free. The TeleFile idea is expanding.
Twenty-six states and
the District of Columbia also offer their own TeleFile program that lets
residents file their state returns by phone. The IRS is in the second
year of a successful pilot program that allows taxpayers in Kentucky and
Indiana to TeleFile federal and state returns with one call. Next year,
Georgia and Oklahoma will join the program.

Courtesy of Article Resource Association, www.aracopy.com, e-mail:
info@aracopy.



Filing Taxes from Home Means Quicker Refunds (ARA)

The Internal Revenue Service offers a convenient filing option for
people who wish to prepare their tax returns using a personal computer.
With tax preparation software available commercially and with their
computer modems, people can file their taxes with IRS e-file. IRS
e-file, the IRS' electronic filing program, offers people increased ease
of filing and speedier delivery of refunds. And since e-filed returns
are more accurate, there's less chance people will hear from the IRS
about mistakes on their returns.

People can e-file from their PCs whether they expect a refund or owe
money. Last year, almost 2.5 million people filed their tax returns
using this option - a 160 percent increase over the number in 1998.
Those who use e-file will get their refunds in half the time as paper
filers, even faster when deposited directly into a bank account.
Individuals who owe money and use IRS e-file can choose to pay
electronically by authorizing a withdrawal from their bank account to
make the payment to the U.S. Treasury. This feature will let people file
early, have the peace of mind of knowing their returns have been
accepted by the IRS, and manage their finances and time without waiting
until the last minute to file and pay. Any amount due must be paid to
the U.S. Treasury by April 17. The IRS has worked to make this filing
option totally paperless.

People who filed last year using their PCs have the option of using an
e-file Customer Number similar to a personal identification number. This
will eliminate the need to send a paper signature document. To take
advantage of IRS e-file, people can complete their returns using tax
preparation software and send the information electronically via modem
to a transmitter, who will forward it directly to the IRS. The IRS sends
an acknowledgment that the return was accepted. Check the IRS Web site
at www.irs.gov to find out more about e-file.

Courtesy of Article Resource Association, www.aracopy.com, e-mail:
info@... Image:

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Home Sale Profits (ARA)

In 1999, taxpayers overseas may need to consider current and past tax
provisions to determine the tax treatment of home sales. For sales prior
to May 7, 1997 (or, at the seller's option, prior to August 6, 1997):
People who sell their homes at a profit may usually postpone payment of
taxes on the profit if, within two years of the sale, they buy a new
home. This replacement home must cost at least as much as the sale
price, minus certain adjustments, of the old home. However, U.S.
taxpayers moving overseas to work may be able to extend the replacement
period while they are out of the United States.

To qualify, taxpayers must move overseas to work within two years of the
time their home was sold. The time frame for civilian U.S. taxpayers to
replace their home is suspended while they are out of the United States
but, overall, cannot be longer than four years from the date they sold
their old home. Military personnel overseas may have up to eight years
to purchase and move into a new home in order to defer paying tax on the
gain from the sale of their old home. This extension also applies to
those military personnel living in base housing at a remote site after
being stationed overseas.

For sales after May 6, 1997: Taxpayers can generally exclude up to
$250,000 of gain ($500,000 if married filing a joint return) realized on
the sale or exchange of the home. The exclusion is allowed each time a
taxpayer sells or exchanges a principal residence, but generally not
more than once every two years. The home must have been used as the
taxpayer's principal residence for a combined period of at least two
years out of the five years prior to the sale. The exclusion does not
apply to any gain resulting from depreciation allowable with respect to
rental or business use of the property after May 6, 1997. Nor does the
exclusion apply to expatriates who are treated under the law as having
lost U.S. citizenship to avoid taxes. Expatriates who have rented their
homes in the United States do not qualify for the deferment of gain on
the sale of a personal residence. They may qualify for the nontaxable
exchange of like kind properties; however, taxpayers should carefully
check to see if the situation meets the qualifications. These rules are
described in Publication 544, Sales and Other Dispositions of Assets.
IRS Publication 523, Selling Your Home, contains details on this
subject. It is available by writing to the IRS Area Distribution Center,
P.O. Box 85627, Richmond, VA 23285-5627, USA or from the IRS Web site at
www.irs.gov.

Courtesy of Article Resource Association, www.aracopy.com, e-mail:
info@...

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IDENTITY THEFT
by Tom Koziol (c) 2000

Believe it or not, someone wants to be you. Not for the rest
of their life but only long enough to use your credit cards,
bank account and anything else you may have of value for
their own personal benefit.

They become you by stealing your identity. Although stealing
someone's identity isn't new (read your Bible),it seems it
has risen to new heights.

Identity theft occurs when someone steals your name,
address, credit card numbers and/or Social Security number
and use this information to open new charge accounts, order
merchandise, borrow money and obtain goods and services
posing as you.

The unfortunate reality is consumers targeted by identity
thieves usually do not know they have been victims until the
crooks fail to pay the bills or repay the loans, and
collection agencies begin dunning the consumer for payment
of accounts they didn't even know they had.

Every major newspaper, magazine and newsletter, both on and
off line, have done stories about this problem. However, it
doesn't hurt to raise the issue to the forefront one more
time. You just can't get too much information when it comes
to scams, frauds and ripoffs.

"When someone hijacks a consumer's identity, it can be a
nightmare," said Jodie Bernstein, Director of the FTC's
Bureau of Consumer Protection. The Director summarized the
situation in one short sentence.

Imagine waking up one morning and discovering someone else
is you but you know they aren't you because you are you.
Confusing? Not to the merchants, banks, loan and finance
companies that extended credit or gave money to the "not"
you. They believed the "not" you was you since the "not "
you had the proper ID to prove (s)he was you.

Welcome to Nightmare Village. Unraveling this spider web of
deceit, lies and theft can take years with the "real" you
suffering tremendous damage. While all identity theft cannot
be stopped, consumers can take certain precautions to lessen
the chances of it happening to them.

For example, calling the FTC at this toll-free number,
1-877-IDTHEFT (877-438-4338) will accomplish two things.
One, victims of identity theft can report the crime to the
FTC and two, at the same time receive advice from telephone
counselors trained to provide assistance to ID theft
victims.

For those savvy on using the Internet, an online consumer
complaint form is located at www.consumer.gov/idtheft ID
theft victims can enter their complaint data directly into
the FTC's secure database from that site.

I am not advocating that you use only the FTC to solve your
problem. Heck, it is a government agency and government
agencies are notoriously slow in helping anyone but
themselves. However, before I wrote this article, I visited
their site and found not only the above information but also
that the site provides links to numerous consumer education
materials, as well as state laws governing ID theft,
articles and reports.

The FTC also provides a 21-page booklet that addresses
identity theft and is available at www.consumer.gov/idtheft

The FTC isn't the only consumer champion in the universe.
The American Association of Retired Persons, Kiwanis, Elks,
newspapers, television stations, your local District
Attorney, sheriff and police force all provide information
and/or direct help to victims.

Use your favorite search engine to find other agencies and
groups providing help and assistance. The Internet is one of
the best resources in the world because it gives instant
feedback. The moment you become aware you have been stolen,
contact your local authorities and start surfing.

Hopefully the following guidelines will prevent you from
becoming a victim. They are common sense actions but are
worth repeating if for no other reason than to keep them
foresquare in our minds when divulging sensitive personal
information.

1. Be careful about giving out personal information such as
social security number, date of birth, mother's maiden name,
etc., to someone over the phone (or the Internet) when you
haven't initiated the transaction. Never ever give it to
someone who contacts you out of the clear blue trying to
sell you a product or service.

2. Don't carry your Social Security card (or your
children's SSNs) in your wallet or anywhere on your person
or in your car. Take the time to memorize these numbers.

3. Put passwords on credit card and bank accounts, to make
it harder for an ID thief to make changes to, or "takeover,"
your account. One of the most common passwords is your
mother's maiden name. Identity thieves know this so select
another word.

4. Order your credit reports once a year from each of the
three national credit bureaus. They charge about $10 but the
$30 you spend could save you a lifetime of grief and
expense. You can order the three reports from:
http://www.icreditinfo.com/cgi-bin/RATS.cgi?21641 You can
also subscribe to a service on this site that will tell you
if someone has applied for credit in your name.

5. Should you discover your identity has been stolen, call
the fraud departments of all three credit bureaus and tell
them to put a "fraud alert" on your file. This tells
creditors to call you before they open any more accounts in
your name.

6. Ask for a copy of your credit report, and ask the credit
bureau to remove any fraudulent or incorrect information.

7. Contact the credit grantors involved - e.g., the bank or
credit card issuers who opened the fraudulent account or
permitted access to your existing account. Immediately
close all affected accounts. Yes, this is a pain in the
posterior but if you don't do it, you may be giving tacit
agreement that it was you who opened the account.

8. Contact your local police, and ask to file a report.
This benefits you in two ways. One the police are now on
alert someone has committed a crime and two, having a police
report can help you in clearing up your credit records later
on. This is important.

Like I said at the top of this article, these precautions
won't stop a determined crook but it will make it harder for
him/her to succeed and may just save you a ton of hassle and
tribulation. Forewarned is forearmed someone once said.
Consider yourself forewarned.

Tom Koziol has over 30 years in the financial arena as a real estate
broker, stock broker, columnist (2 papers), radio talk show
host, seminar producer and host, public speaker, and now
full time Internet publisher and Associate Program creator. FREE
newsletter subscription at http://www.cashclique.com/page4.htm
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TOP TEN LIST TO BETTER GAS MILEAGE
By Doris Dobkins
dorisd@...

What kind of gas mileage do you get with your vehicle? Did you
know that there are a few simple things that you can do to
increase your fuel mileage? Each one may only give you a little
improvement but if you do all of them, you can increase your gas
savings significantly - maybe by even as much as $500 a year.

So here they are!

#1. The first thing you should do is watch your speed. Your
traveling speed has a large affect on your fuel consumption.
"Traveling at 65 mph (105kph) instead of 55 mph (88 kps) can use
up to 17% more fuel."

#2. Use cruise control whenever you can, especially on highways.
By maintaining a steady speed, you will improve your gas mileage.

#3. Check your tires on a regular basis and keep them properly
inflated. If they under-inflated, it can shorten the life of
your tires as well as reduce your mileage (up to 4% for every 5
pounds it is under-inflated). Be careful not to over inflate
your tires where you will get premature and uneven tire wear and
have to replace them much sooner.

#4. Clean out your back seat and trunk by removing unnecessary
items from the car. All the extra weight reduces your mileage.

#5. Do you ever stop for more than 60 seconds while your engine
is idling? If so, turn it off. It takes more fuel to idle
longer than a minute than for you to start your car.

#6. The next time you are in the market for tires, consider
radial tires. They can cut your fuel bill by 2-3%.

#7. Use your air conditioner as sparingly as possible, because
your engine uses extra energy to power the air conditioner
compressor. Fuel consumption can be increased by up to 10% on
the highway and up to 15% in the city when you don't use your air
conditioner.

#8. Also, avoid driving with an open sunroof or windows at
highway speeds because it increases aerodynamic drag and uses
additional fuel. It is best to use your air vents to provide
fresh air inside the car.

#9. Have you check your filters and catalytic converters
recently? They should be kept clean. Dirty filters increase
fuel consumption by as much as 10%.

#10. Use premium multi-grade oils to save on your fuel
consumption and be sure to change your oil every 3,000 miles.

*** So, for the sake of the environment AND your pocket book,
take a moment to assess your vehicle for optimum gas mileage.

Doris Dobkins is a money saving expert and the publisher of a FREE
weekly
newsletter called
$MART Money New$. To subscribe, send email
to: news@... or check
out the Creative Finances web site at http://www.creativefinances.com
It's full of great money saving tips and financial strategies.

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