CH: The change in the economy made
this probably the second-easiest book I’ve ever
written. Because right now you have people of
all income levels who may have just thought it
was cute to be careful with their money, but
you fully have their attention. They need to
and they want to be methodical about it,
something that I’d say was not true before. So
it was much, much easier this time because I
CONTINUED FROM PAGE 19
didn’t have to justify to people why it’s important to be careful with their money. People get
that now. So this time my energy was really
devoted to the how to—how you can really
reduce your spending.
CC: Should people pay full price for this
Howard’s bottom line: “I want people to
take control of their lives. I want people to
know that they’re not spectators, that they can
take charge. And they have far more control
than they give themselves credit for.”
Howard also has a website,
howard.com, that offers more information.
His Team Clark volunteers offer free advice by
phone at (404) 892-8227. C
Clark Howard’s Living Large in Lean
Times provides money-saving advice on
purchasing cars and computers, entertain-
ment and groceries, plus tips on topics
such as education and jobs, healthcare
and real estate, insurance, personal
finance and travel. Here’s one example.
were flat-out denied because the IRS
assumed people were lying. In many cases,
taxpayers who were sitting in homes that
had appreciated in value were told they
should take out a second mortgage to pay
their tax bill. Well, we all know how that sce-
nario played out after the real estate bubble
burst and the recession hit.
Now the IRS is beginning to consider
all reasonable OICs as a result of the dismal
economic climate. The IRS knows that
home values have plummeted and is now
reviewing each OIC on its individual merits.
There is a $150 application fee when you
want to do an OIC. But you can wind up sav-
ing thousands in the process based on your
Clark Howard’s money-saving advice for everyday living
individual circumstances and back taxes.
www.IRS.gov and search “offer in
compromise” for more information.
IF YOU OWE BACK TAXES, there is a way
for you to pay dimes on the dollar in back
taxes with an officially sanctioned IRS program called Offer in Compromise (OIC).
The OIC program—designed to allow
delinquent taxpayers to negotiate a lump-sum settlement—was something of a joke
in the past. Most offers in compromise
Excerpted from Clark Howard’s Living Large in
Lean Times, by Clark Howard with Mark Meltzer
and Theo Thimou, by arrangement with Avery
Books, a member of Penguin Group (USA) Inc.
Copyright © 2011 by Clark Howard.
Clark Howard’s Living Large
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AUGUST 2011 ;e Costco Connection 21