Tag Archives: Arizona

IRS Has $1 Billion for People Who Have Not Filed a 2008 Income Tax Return

IRS YouTube Videos: Haven’t Filed a Tax Return in Years?:English | Spanish | ASL IR-2012-26, Feb. 23, 2012 WASHINGTON — Refunds totaling more than $1 billion may be waiting for one million people who did not file a federal income tax return for 2008, the Internal Revenue Service announced today. However, to collect the money, […]

Hell – As Explained By A Chemistry Student

The following claims to be a question given on a  University of Arizona  chemistry mid-term, and an answer turned in by a student.  The answer by one student was so ‘profound’ that the professor shared it with colleagues, via the Internet, which is, of course, why we now have the pleasure of enjoying it as […]

Husband andWife LLC

Today TaxMama hears from Rachel in the TaxQuips Forum, who needs clarification. “My husband and I are the only owners of our LLC. From my understanding, in our state (Arizona) we can file a schedule C with our 1040. When I try to do this with TurboTax it prompts me to divide all the expenses […]

Help the US Deficit – Don’t Ever File Your 2007 Tax Return!

Video: How to Request a Copy Your Tax Return: English IRS Has $1.1 Billion for People Who Have Not Filed a 2007 Income Tax Return WASHINGTON — Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, the Internal Revenue […]

Tips on Tips

Today TaxMama hears from David in Arizona who got an unpleasant surprise. “I work for a restaurant that has not collected tip income info from our wait staff, and has not done any subsequent withholding. I am the lucky one who inherited payroll responsibility mid-year. I just learned of this oversight when prepping W2’s for […]

Refundable Gift

Today TaxMama hears from Karen in Arizona with this sad question. “A parent distributes an annual gift of $13,000 to a child for 4 years depleting all assets. If the parent requires full time nursing care before the end of the 5th year and has only Social Security income available, is the child required to […]

Depreciation Catch Up

Today TaxMama hears from Betty in Arizona, with this question. “ I realized that I didn’t deduct depreciation at all in my past 8 years tax returns. So I will use Form 3115 to capture all the depreciation. But this will create a big loss on Schedule E. Is this loss limited by Form 8582 […]

Interest and Penalties

Today TaxMama hears from Gary in Arizona with this question. “I am making payments to the IRS, and they charge interest and a penalty. Can I deduct these two from my income tax?”

Unemployed and Drew 401K

[TaxMama note to employers: Times are tough and you may have no choice but to lay off employees. Before you do, see what you can do to help them avoid problems like these. It might mean keeping them on payroll for a little while longer while they seek a new loan. It might even mean […]

Rental Hobby

Today TaxMama hears from Kevin in Arizona, who wants to know, “How often does a rental property have to be rented or income made to qualify as a rental? Looking at the numbers, I doubt ours can go cash positive for at least 4 years. From reading your articles, it seems that the IRS will […]