Tax return

Self Employment and Canada

May 21, 2012

Today TaxMama® hears from Tony in the TaxQuips Forum with this question. “I have a friend / client who had self employment income in both US and Canada. He has already filed in Canada and is asking me to use the same income amount declared there, here in the US. He now owes the Canadian [...]

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IRS Provides Answers to Community Property Filers

May 11, 2012

Courtesy of the Internal Revenue Service The Internal Revenue Service today provided information in a question and answer format to individuals who are subject to their state’s community property laws. These questions and answers apply generally to same-sex spouses in California and to registered domestic partners in California, Nevada, and Washington. Share this:

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Opps, Missed a W-2 !

May 8, 2012

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Today TaxMama® hears from John in the TaxQuips Forum with a little problem. “Reviewing my Federal taxes after my tax preparer did them, I discovered she only had 1 W-2 form listed on my return but she sent copies of both with the taxes. Just wondering what is going to happen when the IRS gets [...]

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Missed the Income Tax Deadline – IRS Offers Help for Taxpayers

April 20, 2012

Courtesy of the IRS The IRS has some advice for taxpayers who missed the tax filing deadline. Don’t panic but file as soon as possible.If you owe money the quicker you file your return, the less penalties and interest you will have to pay. Even if you have to mail us your return, the sooner [...]

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EFiling on Tax Day

April 17, 2012

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Today TaxMama® wants to give you a very last minute tax tip if you’re efiling your tax returns on the very last day of tax season. Share this:

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Last Minute Tax Tips

April 16, 2012

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Today TaxMama® wants to give you a few last minute tax tips. Share this:

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Managing Your Tax Records After You Have Filed

April 13, 2012

Courtesy of IRS Keeping good records after you file your taxes is a good idea, as they will help you with documentation and substantiation if the IRS selects your return for an audit. Here are five tips from the IRS about keeping good records. Share this:

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Wage Settlement From State

April 10, 2012

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Today TaxMama® hears from Ken in the TaxQuips Forum with this happy news. “Several years ago I worked for a company that ran out of money and couldn’t make payroll. I continued to work for several months with the promise that the wages would be paid. Eventually, I requested a layoff and left the company. [...]

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Gift to Daughter

April 9, 2012

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Today TaxMama® hears from John in the TaxQuips Forum with this quick question. “I gifted monies ($5,000) to my daughter in 2011. How do I account for this in my 1040 filing? What other associated forms need to be included to do this?” Share this:

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A Little Groundwork: Nonprofit Return : The 990

April 3, 2012

As with many things in life, we know we have to do them and we have to do them right and on time; filing tax returns ranks fairly high in this arena for many. In my own experience I have found that by finding some history or some context…

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