Today TaxMama hears from PS from California in the TaxQuips Forum, with this question. “Prior to getting married, my girlfriend had me on her medical benefits through her employer because it was significantly less than through my work. The benefits I received are considered “income” by Federal govt and are actually added to her taxable wages. […]
Tag Archives: IRS
Dear Family, Do the weeks seem to fly by faster and faster? Whew! It was just Monday a few minutes ago. OK, the big excitement this week was Congress pushing through the HIRE Act – and President Obama signed it immediately. Kind of surprised my friends at IRS when I called first thing yesterday morning. […]
HOW TO ENTER: Entering the contest requires the following three things: You must be a free member of TaxMama.com. Choose a username, password, enter your name and email address and register here Post your question on the “Taxing My Patience” forum You must be eligible for the competition – see rules and regulations here LAST […]
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 […]
IRS TAX TIP 2010-01 While the tax filing deadline is more than three months away, it always seems to be here before you know it. Here are the Internal Revenue Service’s top 10 tips that will help your tax filing process run smoother than ever this year. Start gathering your records Round up any documents […]
Today TaxMama hears from Jed in Missouri, who says. “I won a trip. Due to health issues, I never booked or took the trip. The voucher has since expired. Now the IRS says I owe tax on the value of the trip. Is this correct?”
WASHINGTON — The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution that involve a controversy, dispute or an unnecessary burden on business taxpayers. The objective of the IIR program is to resolve through issuance of new and improved […]
Courtesy of the Internal Revenue Service WASHINGTON — The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme. On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer, James Otto Price III, pled guilty to falsely claiming the […]
Today TaxMama hears from Rick in Las Vegas who tells us. “I know that if you don’t owe any tax you don’t have to file even if you have income. How about if you do owe tax, but your withholding was in excess of what you owe? Is it a requirement that you file?”
Today TaxMama hears from James in Arizona with a quick question. “Is there a statute of limitations on collecting back taxes?”
Courtesy of David and Mary Mellem, EAs IRS has released the draft of the new Schedule M (Form 1040). This schedule is planned to be part of the 2009 income tax return to reconcile the $400 stimulus payments. Basically Schedule M calculates the amount of credit taxpayers are entitled to as a result of the […]
Today TaxMama hears from Luz in California, with this query. “Is there any period of time, or once every 4 or 10 years that the IRS forgives or gives a percentage reduction on the amount owed on back taxes to the community?http://www.ijasrjournal.org/wp-content/languages/new/professional-essay-writing-service.html ”