Today TaxMama® hears from Joseph in the TaxQuips Forum with a big problem. “I drew money from my IRA without paying taxes. The IRS has put a lien on my house for $67,000.00. Should I try to negotiate with the IRS myself or should I get a tax lawyer?
Tag Archives: CPA
Dear Family, Well, Tax Season is all wrapped up – and many of you have hit the road. I can tell, since so many of your autoresponders are saying you’re gone for the next week or two. I don’t blame you. This year, for some reason, was particularly grueling. Some Tax Pros tell me they […]
Dear Friends, Happy Passover Eve and Good Friday. The holy weekend is upon us. Many of you aren’t working – or have already left town. (Which explains the heavy traffic we heard about yesterday.) I wish you all a loving, noisy, friendly family weekend. And please, if you know of friends or co-workers who are […]
Dear Family, This year, the Swallows Day Parade will be held in San Juan Capistrano on Saturday morning. Each year, they welcome back the swallows who return on March 19th. Folks in Southern California can join in the fun via Amtrak’s Surfliner (SNC station) and walk over to the festivities. (The southbound train will get […]
So you’ve spent the last month dreading the thought of doing your tax return, but the day has come and you know it’s time to get it over with. You sit down and pull up your tax sofware, and start answering questions. Name? check Address? check….Then, you run into that question that you’re unsure about. […]
Today TaxMama® hears from Tina in the TaxQuips Forum with this convoluted question. “A person has resided in the same one-family residence in for the last ten years without any children or wife. This person was bound into an estate contract to sell his residence for $800,000 in November, 2011 when his tax basis in […]
Dear Family, Twice this week, Rick told me this weekend is Daylight Savings Time. I brushed him off. It makes no sense. This EARLY in March?!! Darned if he isn’t right!
Dear Family, This week was very busy working on the Staples Tax Tweet and $5K Tax Giveaway. It turned out to be a lot of fun – and very informative.
Dear Family, I left the house this week. You don’t think that’s news? Let me tell you, I am so well cocooned here in this office, that I can reach out and do anything from here – even teach a class with a 100 people. And do a fabulous Twitter chat with Melinda Emerson the […]
TaxMama® is searching for the Ultimate Tax Nerd. Tax season brings out uncontrollable tax passions. Mild mannered individuals turn into rabid tax fanatics. Does that happen to you? Enter the Ultimate Tax Nerd Contest online beginning Wednesday, February 15th, 2012. The contest will run until midnight, Sunday April 1, 2012. Over $4,000 in prizes. Tax […]
Dear Family, Earlier today, IRS announced that electronic refunds are on target. People can expect to find them in your bank accounts within about 10 days. But, some refunds will be delayed. IRS is beefing up the fraud detection system. Returns with Earned Income Credits, American Opportunity Credits and other refundable credits will take a […]
Dear Family, Although this time of year is meant to be sort of slow, and laid back, so we can just enjoy the buzz from the whole year and the holidays…it’s been quite the opposite. These last couple of months have been a whirlwind – kind of a blur, actually. And there are still a […]