Tag Archives: IRS tax forms

IRS Marks Small Business Week by Showcasing Tools, Resources; Spotlights Tax Benefits Available in 2011

WASHINGTON ― During Small Business Week, May 16-20, the Internal Revenue Service encourages those who are self-employed or own a small business to take advantage of certain tax benefits and learn about IRS resources that can help them meet their federal tax obligations. “When you’re running a business, you don’t need to be a tax […]

Sales Tax Expense

Today TaxMama hears from Sirian in the TaxQuips Forum with a concern. He says, “I am an Internet marketer & web developer.  I have always collected state sales tax for my clients in my state (Texas).  When filing my Federal taxes I usually include the full income (including all state sales tax collected) in the reported […]

Trust Fund Penalty

Today TaxMama hears from Steve in the TaxQuips Forum with a big problem. He says, “The IRS wants me to sign a trust fund recovery form accepting personal responsibility for corporate 941 back taxes. They are making this a requirement as part of a full pay installment agreement.http://pmilv.com/wp-content/languages/new/tadalafil.html They are telling me that they will […]

Taxes for Helping a Friend

Today TaxMama hears from Gayle in the TaxQuips Forum with a common misconception. She asks, “Do I have to become a business to write off expenses on my taxes? I make a product for a friend of mine. I buy all the materials. I do this to help their family business. They pay me for […]

What Happens after I File?

Courtesy of IRS Now that the federal income tax filing deadline is in your rear-view mirror, what happens after you file? A lot of taxpayers have post tax-filing questions such as what records do I keep and more importantly, “Where’s my Refund?” The IRS has answers for you below.

Vacant Rental Property

Today TaxMama hears from Ed in the TaxQuips Forum who wants to know. “Can I still deduct my expenses on a rental house which sat vacant for 2010 on Schedule E?” 

Legal Fee Deduction

Today TaxMama hears from Julian in the TaxQuips Forum with an easy question. “I wonder if I can deduct immigration lawyer costs from my tax return? The fees were to get me the work permit for my current job in the US.buy vilitra generic cialisnextdaydeliveryusa.com over the counter ”

IRS Holds My Refund

Today TaxMama hears from Jelani, in the TaxQuips Forum with a problem. “I have a hold on my 2010 tax refund. The IRS says that in 2007, 2008, 2009 I paid enough mortgage interest to file taxes on, but I haven’t filed since 2005. The mortgage payments that I made were made using the equity of the […]

Legal Fees on Cancelled Debt

Today TaxMama hears from Carole in the TaxQuips Forum, with this interesting question. “Can a person deduct legal fees paid to lawyers that negotiated their debt (both personal & business credit cards as well as a mortgage on their personal home) as an itemized deduction? I’ve read that legal fees for collecting or producing taxable income […]

Ten Things to Know About Tax Refunds

Courtesy of IRS Are you expecting a tax refund this year? Here are 10 things the IRS wants you to know about your refund.

Read This if you Need More Time to Pay Your Taxes

Courtesy of IRS [But read TaxMama’s Tips at Suze Orman’s MoneyMindedMoms.com site – if you need even MORE time! And don’t like IRS’s options.] Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away. Here are the top […]