Ask TaxMama Issue 526 – Big Foul Ups

Happy peace friendship & goodwill week

Dear Family,

Did you hear the one about the pilots who forgot to land?

No? Well it goes like this. Yesterday, Northwest Airlines Flight 188 from San Diego to Minneapolis was lost for an hour , sparking hijack fears. Air traffic control lost contact with the pilots, so the Federal Aviation Administration (FAA) contacted the military and two fighter jets were put on alert. It turns out, the pilots were in a ‘heated discussion’ and lost track of time and space. AARGGHHHHHHHHH!

Yes, they’ve been relieved of duty.

Speaking of foul-ups. We had THE best class last night, talking about ways new Enrolled Agents (and others) can build their careers or their practices. The suggestions were interesting and clever – and, as always, TaxMama was utterly brilliant. At the end of the session, participants were excitedly saying how they would be listening to recording again and again.

Only that’s not going to happen. There’s no recording!!!!!!!
For some reason, it stopped recording after the first five minutes. We lost it all. Don’t you hate when that happens? That’s a real shame for all those folks that missed the class. Oh well. Not good enough? You’re right. We’ll be doing that session on Tuesday, November 3rd. Really, it was SUCH a good class last night. You’d have loved it.

In IRS News this week we get a clever new form to speed up getting transcripts of tax returns when you apply for mortgages. You also get to read about TIGTA Audits IRS’s Administration of First-Time Homebuyer Credit.

Stay tuned to this week’s issue of TaxWatch on I have been working on this situation for months now and will be filing my story later this morning. Thanks, TIGTA, for releasing this report just when I needed it! We’ve been doing hundreds of these returns and have a rather unique perspective on the problems. And we just learned about a HUGE problem that will hold up your refunds next year! Oh boy! Definitely read this month’s TaxWatch column. I’ll send you a Tweet when it’s published.

In today’s Money Funny we get a sign from Above.

In TaxQuips this week we learn some strategy on mortgage pay-off vs reinvestment; how to handle profits from sale of IPO stock; reveal IRS audit secrets about the video rental industry – and other industries; and more about how the First Time Homebuyers Credit works.

As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!

Please use the Comments link online.

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Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.


11.02.2009 3rd Quarterly Payroll Returns and Pay Taxes Due
11.02.2009 3rd Quarterly Sales Tax Returns and Pay Taxes Due ————————————————————-


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