Bailout bombs

September 29, 2008

Just like the U.S. financial sector, the Congressional effort to prop it up has gone down in flames.

Bailout_2
Representatives from both sides of the aisle this afternoon lined up against the $700 billion bailout plan by a 228-to-205 vote. The measure had been scheduled for a Senate vote on Wednesday, but that’s now in limbo as lawmakers try to regroup.

Let’s hope the stock market finds its footing, too. It went into free fall as soon as word of the House vote got out.

You can read about the vote in the Wall Street Journal, The New York Times, The Washington Post, TheStreet.com, and The Independent,,

At this rate, all other legislation, including the AMT and extenders packages blogged about earlier, might be on the permanent back burner. And Representatives and Senators might not be able to make it back home to campaign before Nov. 4, which might not necessarily be a bad thing!

I just hope the absence of a rescue package doesn’t mean the Vice Presidential debate will have to be postponed.

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Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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Comments
  • Eitan Yariv
    18 years ago

    Wondering when will it end up…

  • Eitan Yariv
    18 years ago

    A well written and very intresting post. I don’t see how we would end up – Hope for the best however

  • Bruce
    18 years ago

    I would have to say I would rather they spend their time working rather than clogging the media with their campaigning.
    All so, much ashamed the market should be not being able to stand on it’s own.

Comments are closed.