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IRS Wants YOUR input – About Expanded 1099 Reporting

July 2, 2010

[TaxMama Note: I have heard a lot of griping about the proposed requirement to have businesses issue 1099s to absolutely everyone for everything. If you don't like it - SPEAK UP NOW! Not to me, but where it counts - to IRS. Here's how.]
IRS Requests Public Input on Expanded Information Reporting Requirement 
WASHINGTON — The Internal [...]

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Ham Radio Filing

July 1, 2010

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Today TaxMama hears from William in the TaxQuips Forum with this question. “We are part of a social organization (Ham Radio Club) which is not required to apply for formal tax exempt status because its annual gross receipts are less than $5,000. Must we file the annual form 990-N?” http://taxmama.com/forum/taxquips/form-990-n-filing/  

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Why Your Business Needs A Tax Pro, Part 1

June 11, 2010

How’s Your Crystal Ball? 
You’re a savvy entrepreneur and you’re smart about your money, but you’ve found yourself over your head with the IRS. There’s no need to be embarrassed about admitting that you need help sorting out your finances.  The real shame is in hiring the wrong hired gun to tame the taxman. Choose wisely [...]

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Key IRS Audios for Your Small Business

May 14, 2010

Starting a small business can be confusing. IRS provides free audio tools and information to guide you.

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IRS Problem Resolution Day

May 12, 2010

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Today TaxMama wants to give you some pointers on how to use the IRS Open House days effectively. People write to us with IRS problems all the time. I wish I could solve them all for you. But, generally, the only way to solve your problem is for you to take action. Here’s your chance [...]

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GET YOUR EXTENSIONS HERE!

April 8, 2010

Get your IRS extension here!
Note: This page has been updated to include links to Personal, Business and State extensions.
Courtesy of IRS
If you can’t meet the April deadline to file your tax return, you can get an automatic six month extension of time to file from the IRS.
Here are seven things you need to know about [...]

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MFJ or MFS

March 11, 2010

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Today TaxMama hears from Madhu in Minnesota who needs help.  “I have a peculiar case and need your opinion here. I am living & working in MN and make a lot of money. My wife lives & studies in WI and she has an on-campus job, earning enough to cover her basic living expenses.  Our [...]

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Ask TaxMama Issue 540 – A Long Weekend

February 12, 2010

Dear Family,
This week went by so quickly, I didn’t even have time to blink. Perhaps not so for some people. Working on an article, I called the IRS DC press office one morning, only to get the answering service message that the office was closed. So contacted a couple of those cool guys by email. [...]

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Do I have to File a Tax Return?

January 29, 2010

    Courtesy of IRS
[TaxMama note: ALWAYS file tax return, whether you need to or not. Once you file, you start the clock ticking on the 3 year statute of limitations for audit. If you never file, IRS or the state can come back and ask for a tax return for  that year, forever.]
You must file [...]

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