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Credit Repair _ Handsoncredit.com, Waterbury, CT (2026)

11/06/2024

What is the electoral votes system?

The Electoral College is a mechanism established by the United States Constitution for the indirect election of the president and vice president of the United States. Here’s how it works:

1. Electoral Votes Allocation: Each state is allocated a number of electoral votes based on its representation in Congress. This is equal to the total number of its Senators (always 2) plus its Representatives in the House. For example, a state with 2 Senators and 5 Representatives would have 7 electoral votes. The total number of electoral votes in the Electoral College is 538.
2. Voting Process: When citizens cast their votes in a presidential election, they are actually voting for a slate of electors pledged to vote for their chosen candidate. Each political party typically selects a slate of electors before the election.
3. Winning Electoral Votes: Most states use a winner-takes-all system, meaning that the candidate who receives the majority of the popular vote in that state gets all of its electoral votes. Maine and Nebraska use a proportional system, where electoral votes can be split between candidates.
4. Majority to Win: To win the presidency, a candidate must receive a majority of the electoral votes—at least 270 out of 538.
5. Electoral College Meeting: After the election, the electors meet in their respective state capitals in December to cast their votes for president and vice president. These votes are then certified and sent to Congress.
6. Congressional Certification: In January, Congress meets in a joint session to formally count the electoral votes and declare the winner of the election.
7. Contingencies: If no candidate receives a majority of electoral votes, the election is decided by the House of Representatives, with each state delegation casting one vote for one of the top three candidates.

The Electoral College system has been the subject of much debate, with arguments for and against its effectiveness and fairness in representing the will of the American populace.

ما هو نظام الأصوات الانتخابية الامريكي ؟

الهيئة الانتخابية هي آلية أنشأها دستور الولايات المتحدة للانتخاب غير المباشر لرئيس الولايات المتحدة ونائبه. وإليك كيفية عملها:

1. تخصيص الأصوات الانتخابية: يتم تخصيص عدد من الأصوات الانتخابية لكل ولاية بناءً على تمثيلها في الكونجرس. وهذا يساوي العدد الإجمالي لأعضاء مجلس الشيوخ (دائمًا 2) بالإضافة إلى ممثليها في مجلس النواب. على سبيل المثال، الولاية التي بها عضوان في مجلس الشيوخ و5 أعضاء في مجلس النواب سيكون لها 7 أصوات انتخابية. ويبلغ العدد الإجمالي للأصوات الانتخابية في الهيئة الانتخابية 538.
2. عملية التصويت: عندما يدلي المواطنون بأصواتهم في الانتخابات الرئاسية، فإنهم في الواقع يصوتون لقائمة من الناخبين الذين تعهدوا بالتصويت للمرشح الذي اختاروه. وعادة ما يختار كل حزب سياسي قائمة من الناخبين قبل الانتخابات.
3. الفوز بأصوات المجمع الانتخابي: تستخدم أغلب الولايات نظام الفائز يحصل على كل شيء، أي أن المرشح الذي يحصل على أغلبية الأصوات الشعبية في تلك الولاية يحصل على كل أصوات المجمع الانتخابي. وتستخدم ولايتا مين ونبراسكا نظامًا نسبيًا، حيث يمكن تقسيم الأصوات المجمع الانتخابي بين المرشحين.
4. الأغلبية للفوز: للفوز بالرئاسة، يجب أن يحصل المرشح على أغلبية الأصوات المجمع الانتخابي - على الأقل 270 من أصل 538.
5. اجتماع المجمع الانتخابي: بعد الانتخابات، يجتمع الناخبون في عواصم ولاياتهم في ديسمبر للإدلاء بأصواتهم للرئيس ونائب الرئيس. ثم يتم التصديق على هذه الأصوات وإرسالها إلى الكونجرس.
6. التصديق الكونجرسي: في يناير، يجتمع الكونجرس في جلسة مشتركة لفرز الأصوات المجمع الانتخابي رسميًا وإعلان الفائز في الانتخابات.
7. الاحتمالات: إذا لم يحصل أي مرشح على أغلبية الأصوات المجمع الانتخابي، يتم تحديد الانتخابات من قبل مجلس النواب، حيث يدلي كل وفد ولاية بصوت واحد لصالح أحد المرشحين الثلاثة الأوائل.

لقد كان نظام المجمع الانتخابي موضوعًا للكثير من النقاش، مع وجود حجج مؤيدة ومعارضة لمدى فعاليته ونزاهته في تمثيل إرادة الشعب الأمريكي.

04/19/2024

Haven’t Filed Your 2020 Tax Return? You May Be Forfeiting a Substantial Refund

Article Highlights:
• 2020 refunds are in jeopardy.
• Filing deadline
• Lost benefits
• Mailing instructions

If you still need to file your 2020 federal tax return and have a refund coming, time is running out!
The IRS estimates that there are about 940,000 taxpayers who still need to file their 2020 tax returns and that over 1 billion dollars of unclaimed refunds are available for those taxpayers. If you fall into this category, you must act quickly because the return must be filed by May 17/24 to claim a refund for 2020.
Otherwise, the money becomes the property of the U.S. Treasury. The average refund for 2020 is estimated to be $932. It could be more for those who haven’t received their COVID-era Recovery Rebate Credit.
Taxpayers usually have three years to file and claim tax refunds, and generally, the filing deadline to claim past refunds would be the April tax deadline, three years after the original return filing deadline. However, due to the Covid-19 pandemic, the original filing deadline for 2020 returns was postponed a month. Accordingly, the 3-year deadline for claiming 2020 refunds has been delayed to May 1724.
By failing to file a return, people stand to lose more than a refund of taxes withheld or paid during 2020. Many low- and moderate-income workers may have yet to claim the Earned Income Tax Credit (EITC). The EITC helps individuals and families with incomes below certain thresholds, which for
1. unmarried individuals in 2020 were $50,594 for those with three or more children,
2. $47,440 for those with two children, $41,756 for people with one child, and
3. $15,820 for those with no children.
4. For married joint filers, the threshold is $6,250 more for those with three or more children,
5. and $5,890 more for each other category.
6. Also, parents eligible to claim the refundable portion of the child tax credit will forfeit that benefit if they don’t return.
When filing a 2020 return, the law requires that the return be properly addressed, mailed, and postmarked by May 17. It may also be appropriate to obtain proof of mailing from the Post Office if the IRS disputes the return being sent by the deadline. There is no penalty for filing a late return qualifying for a refund.
As a reminder, taxpayers seeking a 2020 refund should know that their checks from the IRS will be held if they have yet to file tax returns for 2021 and 2022. In addition, the refund will be applied to any amounts still owed to the IRS and may be used to offset unpaid child support or past-due federal debts such as student loans.
Don’t forfeit your 2020 refund; contact our office for assistance in bringing your tax filing obligations current.

04/06/2024

The following are recommended actions for victims of identity theft.

04/06/2024

Whether you are certain that your credit rating is strong, or have had credit problems in the past and want to double check that your credit rating has improved, it's a good idea to review your credit report every few years and check it for accuracy. Below are the names of the three major sources of...

04/06/2024

How to Improve Your Credit Score
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On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
How to Improve Your Credit Score
There are myriad important numbers in your financial world, but few as critical as your credit (FICO®) score. This FICO® number, ranging from 300-850, can affect your ability to buy a house or car, get a credit card or other loan, or even get a job sometimes. Your FICO® score also affects the interest rates on loans.
FICO® scores are based on your credit reports. Credit agencies track credit history and sell it to parties who are interested in your credit-worthiness. Credit reports consist of four elements:
• Personal information (compiled from credit applications)
• Credit history (details of your credit relationships)
• Credit report inquiries (entered anytime someone views your record)
• Public records (judgments from government sources, like liens)
Three agencies track credit scores: Equifax, Experian, and TransUnion. You're entitled to a free report once every 12 months; the best place to get this is AnnualCreditReport (www.annualcreditreport.com). You can:
• See who's been making inquiries about your credit
• Check it for errors
• Find out if you're an identity theft victim
• Gauge your chances of getting a loan
A bad credit report doesn't have to follow you forever. Even bankruptcies generally drop off after seven years. If your score is less than optimal, you can improve it. Stick with your program and you'll increase your chances of--eventually--getting into that top 5%, or even 1%.
• Report mistakes immediately to the appropriate credit agency. Do this in writing, and document it well.
• Pay everything on time. Even one late payment on a credit card can lower your credit score.
• Budget your credit card payments. They should be as much a part of your budget as your mortgage and food.
• Don't let balances on your revolving credit accounts--like credit cards--get too high. Having a high credit debt-credit limit ratio can lower your credit score.
• Neither close your unused accounts nor open new accounts to affect your credit score. That trick doesn't always work.
• Pay off the cards with the highest interest rate first. No matter what the balance, you should always pay any extra you have on the card that's costing the most. Pay minimums on the rest. When you have that top card paid off, continue the process with the second in line, and so on. Whenever you can, pay more.
• Keep an emergency reserve so you can always pay at least minimums on time. Don't be intimidated by this. If you can't save thousands of dollars, at least squirrel away a few hundred earmarked for this occasion. Skip purchasing a couple of lattes every paycheck and bank it.
• Ask your credit card issuer for a lower rate. This actually works sometimes, so it's worth a try. Credit card interest is simply lost money.
• Use your credit cards occasionally and carefully. Show that you can borrow money and pay it back responsibly.
• Don't be a ostrich. The credit bureau can't gauge your ability to pay a debt back if you don't ever borrow any.
• Try to maintain a stable job and residence. Lenders are more interested in people who show stability in their personal lives.
• Avoid--like the plague--collection agencies and judgments against you. When you've satisfied a lien, be sure to check that the lien has been released and report that to the three reporting agencies if necessary.
What happens if your credit is really in shreds? Double your determination and keep following your program. If you can't get a traditional credit card, get a secured credit card, where you make a cash deposit and can charge up to that limit. Pay it off faithfully, and you'll probably eventually get credit again.
In the meantime, save as much as you can so you don't trash your credit again. Consider asking someone to co-sign a small loan so you can prove you're worthy of credit.
When you are, shop for your credit cards like you shop for groceries and clothing, to find the best deal. Bankrate.com (www.bankrate.com) is a good place to do that. That's a good site for finding the best deals on other financial products, too, like mortgages and other loans.
Improving your credit score will likely take time and some sacrifice on your part. But it's worth it, and it'll save you money eventually -- the higher the FICO score, the better your chance of credit and loans, and the lower your interest rate may be. So keep plugging towards the payoff.

04/06/2024

Haven’t Filed Your 2020 Tax Return? You May Be Forfeiting a Substantial Refund

Article Highlights:
• 2020 refunds are in jeopardy.
• Filing deadline
• Lost benefits
• Mailing instructions

If you have not yet filed your 2020 federal tax return and have a refund coming, time is running out!
The IRS estimates that there are about 940,000 taxpayers who have not filed their 2020 tax returns and that there is over $1 billion dollars of unclaimed refunds available for those taxpayers. If you fall in this category, you need to act quickly because the return must be filed by May 17, 2024, to claim a refund for 2020.
Otherwise, the money becomes the property of the U.S. Treasury. The average refund for 2020 is estimated to be $932. It could be more for those who haven’t already received their COVID-era Recovery Rebate Credit.
Taxpayers usually have three years to file and claim tax refunds, and generally means the filing deadline to claim past refunds would be the April tax deadline three years after the original return filing deadline. However, due to the Covid-19 pandemic, the original filing deadline for 2020 returns was postponed a month. Accordingly, the 3-year-deadline for claiming 2020 refunds has been postponed to May 17, 2024.
By failing to file a return, people stand to lose more than a refund of taxes withheld or paid during 2020. Many low- and moderate-income workers may not have claimed the Earned Income Tax Credit (EITC). The EITC helps individuals and families with incomes below certain thresholds, which for
1. unmarried individuals in 2020 were $50,594 for those with three or more children,
2. $47,440 for those with two children, $41,756 for people with one child, and
3. $15,820 for those with no children.
4. For married joint filers, the threshold is $6,250 more for those with three or more children,
5. and $5,890 more for each other category.
6. In addition, parents eligible to claim the refundable portion of the child tax credit will forfeit that benefit if they don’t file a return.
When filing a 2020 return, the law requires that the return be properly addressed, mailed, and postmarked by the May 17th date. It may also be appropriate to obtain proof of mailing from the Post Office in case the IRS disputes the return being mailed by the deadline. There is no penalty for filing a late return qualifying for a refund.
As a reminder, taxpayers seeking a 2020 refund should know that their checks from the IRS will be held if they have not filed tax returns for 2021 and 2022. In addition, the refund will be applied to any amounts still owed to the IRS and may be used to offset unpaid child support or past-due federal debts such as student loans.
Don’t forfeit your 2020 refund; contact our office for assistance in bringing your tax filing obligations current.

02/16/2019

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