Tag Archives: bank

Carrying a Mortgage

Today TaxMama® hears from a couple of people in the TaxQuips Forum, with this problem this week.  They have sold real estate on an installment sale. They have been the mortgage-holder. And after a while, the buyer defaulted and they had to repossess the property. Let’s look at the problems arising when carrying a mortgage.

IRS Has $917 Million for People Who Have Not Filed a 2009 Income Tax Return

[TaxMama Note: If you have not yet filed for 2009 and have a refund coming – FILE IMMEDIATELY! If you are still waiting for data, documentation or anything else that prevents you from filing, then file a PROTECTIVE CLAIM. i.e. File a tax return. Write PROTECTIVE CLAIM on the top of the first page. Include […]

IRS Takes Confidentiality Seriously

We’ve been talking about IRS whistleblowers lately. One of the features of the program is that it is meant to provide anonymity to the whistleblower. Otherwise, that person could potentially face serious physical and financial harm. Well, it doesn’t always work that way. Sometimes, you run into a corrupt government official seeing a way to […]

Ask TaxMama Issue 650 – Hot Dog!

 Dear Family, Can you believe it. This is the 650th issue. Ask TaxMama has been running for 12 ½ years. We’ve answered thousands of questions; solved innumerable tax problems; saved people millions of tax dollars over the years – and even improved the federal tax administration system and the tax profession a tiny bit. The […]

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, […]

IRS Offers Tips for Year-End Giving

Courtesy of the Internal Revenue Service WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following: Special Charitable Contributions for Certain IRA Owners This provision, currently scheduled to expire at the end of […]