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Does the IRS Owe You Money?
Sherman Announces How Los Angeles Residents Can Find Out If They Have Unclaimed Tax Refunds
Congressman Brad Sherman (D - Sherman Oaks) discovered that 4,176 taxpayers in Los Angeles County are owed $6,722,735 in tax refunds. The IRS is holding their refund checks, but can’t find them. Sherman, who is a CPA and tax law specialist, will also volunteer his services to help senior citizens and other local residents at a free tax clinic at Pierce College.
To help assist taxpayers collect their refund, Congressman Sherman has posted a list of all Los Angeles County residents who are owed a refund for their 2010 taxes on his web page.
See if the IRS Owes YOU Money!
For All Residents in Los Angeles County: BradSherman.house.gov/LACountyRefunds
For All SoCal Residents (Excluding LA County): http://bradsherman.house.gov/SoCalRefunds/
If you see your name, call the IRS at (800) 829-1040 and ask for Form 3911 to claim your refund. If you live outside the Los Angeles County Area (or if you did live outside the LA County area when a refund may have been sent to you), call the IRS at that same main number, (800) 829-1040, and an IRS service representative will help you.
More Helpful Refund Information:
Taxpayers should also check with the Franchise Tax Board (FTB) for unclaimed refunds. There are some 52,000 old refunds in California from previous years remaining at the FTB which are cumulatively worth $17 million. The largest outstanding individual refund is worth over $39,000.
To claim a missing refund from the FTB, you must call them at (800) 338-0505 for assistance. Through this telephone number, the FTB can initiate an investigation into a missing refund and, if applicable, issue a new refund check.
Reminder to Taxpayers:
If you need extra time paying your taxes during these hard economic times, you have the option of filing an IRS Form 9465 to request a monthly installment plan (or apply online at http://www.irs.gov). You can also file a California FTB Form 3561 to request an installment plan for your state taxes.
Mortgage Modification for those Facing Hardship
Congressman Sherman helped create the HAMP program to help those having significant difficultly making their mortgage payments. The goal is to reduce foreclosures, which are a tragedy for the families involved, and adversely affect the neighborhood. Qualifying homeowners often have their payments reduced to 31 percent of their monthly pre-tax income.
For help finding out if you’re eligible for a lower payment under these new policies, you can contact our Valley office at (818) 501-9200.
You can find out if your mortgage is owned by Fannie or Freddie by going online to:
http://www.FannieMae.com/loanlookup/ or https://ww3.FreddieMac.com/corporate/, or calling 1-800-7FANNIE or 1-800-FREDDIE.
For more information you can also visit: http://www.makinghomeaffordable.gov/
Refinancing at Lower Rates for Those with Low Equity (or No Equity)
Mortgage rates are at historic lows and many homeowners want to refinance to reduce their monthly payments by hundreds or even thousands of dollars. But many homeowners do not have the 20 percent equity required to refinance, and some owe more than the current value of their home.
Congressman Sherman cosponsored the HOME Act which allows those with mortgages owned or guaranteed by Fannie Mae and Freddie Mac to refinance – even if they owe more than their home is currently worth. Even if you write your check to a major bank, your mortgage is probably owned or guaranteed by Fannie Mae or Freddie Mac.
This provision will help create jobs in the San Fernando Valley. Homeowners who save hundreds of dollars each month are good customers for local Valley businesses. Furthermore, it does not expose the federal government to additional risk because these mortgages are already guaranteed or owned by Fannie Mae or Freddie Mac.
30th Annual Congressional Arts Competition
We are seeking original pieces of art created by high school students in the 27th Congressional District. The Art competition ceremony for friends and family displaying submitted art will occur Saturday, May 19, 2012 at 4 PM at the Canoga Park Youth Arts Center.
The winner will receive an all-expense-paid trip to Washington, D.C. to attend a special ceremony for the hanging of their art work at the U.S. Capitol.
For More Information CLICK HERE
