Tag Archives: Disaster/Accident

Some Give and Take

The Fallen Man A man had fallen between the rails in a subway station. People were all crowding around trying to get him out before the train ran him over. They were all shouting. “Give me your hand!” but the man would not reach up.

Relief Available To Many Extension Requesters Claiming Tax Benefits

WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January. The relief applies to the late-payment penalty, normally 0.5 percent per month, charged on tax payments made after the […]

IRS Warns Consumers of Possible Scams Relating to Hurricane Sandy Relief

Courtesy of the Internal Revenue Service The Internal Revenue Service today issued a consumer alert about possible scams taking place in the wake of Hurricane Sandy. Following major disasters, it’s common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Such fraudulent schemes may involve contact by telephone, social […]

No Repayment Needed

Today TaxMama® hears from Dave in the TaxQuips Forum, with an excellent question  (let me summarize).  “His friend’s daughter bought a home in 2008 subject to the First Time Homebuyer Credit repayment. During 2011, she was deployed to Iraq for 11 months. Can she file an amended return and have the entire balance of her repayment […]

IRS Provides Tax Relief to Victims of Hurricane Isaac

IRS Provides Tax Relief to Victims of Hurricane Isaac; Return filing and Tax Payment Deadline Extended to Jan. 11, 2013 (courtesy of the IRS)  WASHINGTON –– The Internal Revenue Service is providing tax relief to individuals and businesses affected by Hurricane Isaac. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management […]

IRS Offers Tips for Safeguarding Tax Records

Courtesy of the Internal Revenue Service [TaxMama Note: For more recordkeeping and safeguarding tips, click here.] Hurricane season has started and the IRS encourages individuals and businesses to safeguard their tax records against natural disasters by taking a few simple steps. Here are four tips from the IRS to help you prepare in case a […]

Prepare for Hurricanes, Disasters by Safeguarding Tax Records

Courtesy of the Internal Revenue Service IRS YouTube Videos Preparing for Disasters: English | Spanish | ASL How to Request a Copy of Your Tax Return: English | Spanish | ASL Podcast  –  Disaster Assistance: English | Spanish WASHINGTON — With the early start of this year’s hurricane season, the Internal Revenue Service encourages individuals […]

Sales Tax Holidays Coming Your Way

Courtesy of http://www.taxadmin.org Take advantage of sales tax holidays to plan you major purchases. You’ll find sales tax relief for home improvements, computers and other useful expenditures during the summer – then back to school purchases at the end of the summer season. You’ll find the list of states and dates here:

A Moral Dilemma

Here’s a moral question for you. It’s hypothetical but it shows what kind of character you have.  Here’s the situation:   You are in the Midwest, and there is a huge flood in progress. Many homes have been lost, water supplies compromised, and infrastructure destroyed. Let’s say you’re a photographer out getting still photos for […]

Getting Real Value from Your Charitable Deductions

Harry and Esther are flying to Australia for a 3 week holiday to celebrate their 40th anniversary.   Suddenly, over the public address system, the Captain announces, “Ladies and Gentlemen, I am afraid I have some very bad news. Our engines have ceased functioning and we will attempt an emergency landing. Luckily, I see an […]