Ask TaxMama Issue 565 – Thank YOU

Dear Family,


Did I remember to tell you just how much I appreciate you – your friendship and support, your comments and even, sometimes, your silences? Well, THANK YOU.

We don’t always remember to show our gratitude or appreciation. So, many years ago, I created a holiday for this very purpose. (You’ll even find mentions of it online) Thanks for All the Gifts Week. Today’s Thank You letter will tell you all about how to use for your own benefit, too.

Last week I told about the new series of courses I am starting to teach with Tom Buck, CPA and Sonya Wilt, EA. We developed these courses in response to the many requests from people who are in tax trouble and need  guidance. This is the first phase of the project – training more tax professionals to help you. You – and the Tax Pros can see a sample and overview of the new series by scrolling down to the bottom of this page and selecting “IRS Practice Series: Overview of Collection Issues” – price = $0!

The second phase of the project is develop a resource where people in trouble can meet and help each other. Having kind of a hot-line for folks who’ve all faced horrible tax messes due to the nastiness of divorce, the new business quicksand of payroll taxes and taxes confusing beyond words, and just plain tax anxiety overload! Sonya, Eva and Tom (SET – hey, how do you like that acronym?) are going to provide complimentary resources for you, a place where you can congregate anonymously with others and compare notes and share ideas and successes – and there will be some inexpensive hands-on courses to help you fill out the forms yourself when you simply cannot afford to pay the thousands that tax professionals must charge you for the intense number of hours involved in collections defense. The graduates of the Tax Practice Series (above) will be able to help you – we’ll encourage them to donate some hours of Pro Bono guidance. There’s not much at the new site – but Tax Debt Anonymous coming this fall.

Tax Holidays are ending, but there may still be some for a while. Check to see if you have back-to-school savings in your state.

This month’s MarketWatch column will help you determine if you owe extra taxes because of this year’s Making Work Pay Credit. Look for it next week. Or…I might just write about something new and interesting that we learn at the IRS Tax Forums – and tell you about the Making Work Pay Credit elsewhere.

Other interesting articles on MarketWatch Tax available to you include Amending Your Tax Returns to Get Refunds; Can’t Pay Your Taxes – Tips on what you can still do…and more.

EA Class News
Wow! We finished up Part 2 last night. Everyone was jubilant and ready to party. In fact, some will join me in Las Vegas next week to do just that. Lots of people have been passing Part 1. A few people have gone ahead and tackled Part 3 – and passed! Our first brave soul, Greg, took Part 2 and PASSED!

The Part 3 class will start on August 31 when we return.

We have new FALL SPECIAL price, to give you Part 3 live and Self-Study on Parts 1 and 2

And remember, you can get a 10% discount on the EA Class if you register for TaxMama’s Family first.
The discount code can be found in the Family Look-Ups resource.
Upcoming Events

Upcoming on CPE LINK – with CPE for CPAs, EAs, and more

September 1 at 12:00pm PT
Doing Tax Research Online for Free
Identify reliable sources of tax information,
how to use them and understand them.

September 15 at 10:00 PT –
Roger B. Adams, EA (with minor assist from TaxMama)
Understanding Tax Treaties
Learn the fundamental principles of the purpose and application of tax treaties. Why should you care? Because there are over five million Americans living outside of the U.S., over two million of whom live in the Western hemisphere (principally in Canada and Mexico).

The IRS Practice Series
Team taught with Eva Rosenberg, EA, Tom Buck, CPA and Sonya Wilt, EA
Sep 13, 9:00am  – 10 Steps to Release IRS Levies on Paychecks or Bank
Oct 8, 9:00am – 10 Steps to Resolving Collection Issues
Nov 1, 10:00am – Hands-on Collections Workshop   
Dec 7, 10:00am – 6 Simple Steps to an Offer-in-Compromise (form 656) 
Dec 10, 9:00am – The Un-agreed Collection Alternatives and Appeals


==>Homebuyers Credits for Tax Professionals
The specific laws related to your clients.  How to get it rigth the first time. What to watch out for.
And how to overcome IRS Rejections.

==>IRS Practice Series: Overview of Collection Issues – Price = ZERO:
This on-demand webcast provides a broad overview of the collections process. From preparing the Power of Attorney – IRS Form 4868, to freezing the collection activity, to Offers-in-Compromise and Appeals, the course will explore the numerous collection issues a practitioner may encounter and lay the ground work for the IRS Practice Series. Topics will be covered in more detail in the dozen courses of The IRS Practice Series – leading to a Tax Mediary (CTM) Certificate upon completion of the series.
Other TaxMama News:

At Equifax this week, you learn about the new Tax Increase for Wealthy Americans: Will You Pay More? Ilyce Glink tells you How to Save More Money at Home. Dan Solin gives you 10 Golden Rules All Investors Should Follow. Linda Rey tells you all about Insuring a Vacant Home. Equifax Expert Diane Moogalian gives you profound about about – Credit Report FAQs: What Do I Do When a Family Member Dies?
This week’s blog discusses the very unpopular new Preparer Licensing rules.
These rules are designed to protect taxpayers like you – so pay attention to what your preparers are saying. They are talking about it everywhere – passionately.

In Money Funnies this week we give you some sarcasm about leglislative brilliance.

In IRS News, we learn that IRS is doing away with paper payment systems as much as they can. Businesses with regular payment requirements, like payroll taxes, estimated payments, etc. will all have to go electronic next year. IRS provides explanations and alternatives. TaxMama gives you a tool to use for last-minute e-payments if you have to make a payment before your EFTPS account is set up.
In TaxQuips this week we start the week with Bill, who is really angry about the new rules for tax professionals. Look at what everyone else has to say about this – passion! Same-sex Marriage is in the news again. TaxMama explains the tax issues. Chris challenges TaxMama to provide tax-savings tips for wage-earners. I meet the challenge! We end the week with Karen whose father died. She wants to know if the settlement she’s getting is taxable.
Have you always wanted to understand how a Balance Sheet works? Or how to do a tax return when you work in two or more states? Bruce McFarland explains, at the TaxQueries blog!

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

Please use the Comments link online.

TaxNerd gear makes a bold statement year-round.
It helps attract the opposite sex!
Shop at or*

Hugs from your favorite TaxNerd,*

Eva Rosenberg, EA

Your TaxMama®  is watching…out for you.

08/31/2010 Time for businesses to consider setting up retirement plans
09/15/2010 Partnership Returns Due- FINAL DEADLINE
09/15/2010 Corporate Returns Due- FINAL DEADLINE
09/15/2010 S Corporate Returns Due- FINAL DEADLINE
09/15/2010 Estate & Trusts Returns – Final Deadline; Bankruptcy fillings use the same form
09/15/2010 Individuals, Farmers & Fishermen Pay 3rd Quarter Estimated Tax Payment
09/15/2010 Corporations – 3rd Quarter Estimate Tax payment Due 
09/15/2010 Estates & Trusts 3rd Estimated Tax Payment
09/15/2010 Deadline for Corporations and Partnerships to fund SEP-IRAs for previous year.
09/30/2010 Last day to establish SIMPLE plans for current year
09/30/2010 Time for businesses to consider setting up retirement plans
10/15/2010 Net Operating Loss – Eligible Small Business carry back loss
10/15/2010 Personal Returns – FINAL DEADLINE
From TaxMama® to You!

Follow TaxMama®’s Tweets –

You are invited to put a TaxQuips Widget on your phone, social networking page, website, or… You’ll get the TaxQuips as soon as they published – long before they are distributed in by e-mail. It’s a nifty gadget. Just pick up the code and paste into your site or application.

Download TaxMama’s 2010 iphone Tax Calendar. My gift to you.

Never miss a tax deadline again!
The customizable tax calendar is here.
Add or Remove dates. Add your own reminders – get alerts.


===> Do it Yourself Legal Material

NOLO is offering 40% off during their Annual eBook Sale through June 1, 2010.
Use coupon code is A123 for an additional 10% off any product.
(disclosure – TaxMama receives a commission)

===> Need a Corp, LLC, Registered Agent
Incorp Services Inc. in Nevada – DISCOUNT
20% off on formation services.
Similar discounts on Registered Agent services.
Call 800.2.INCORP – use coupon code – TAXMAMA – no coupon needed

===> Business Uniforms – 3 Choices:

Zazzle   –   Cafe Press  – Queensboro

===> Use your art or others – and customize it
Great for promotions – and to gear up for tax season!

Zazzle your Imagination.  Are you a TaxNerd?
Tell everyone – proudly!*

Create your own customized Calendar at Zazzle
Get volume discounts on orders of 2 or more.

Get extra discounts for yourself and friends after you order.

===> Stuff for Pets and Pregnant Moms

Cafe Press is the home of TaxMama® ‘s shops

You can upload your own art and graphics

Get extra discounts for yourself and friends after you order.

===>WOW! Embroidered Logo on ANYTHING – on sale!

Always a sale at the Queensboro Shirt Company
(They have clothes and novelties – and all sizes)
They do a gorgeous job.


Take TaxMama®’s 2010 EA Exam Review Class 

Wow! We finished up Part 2 last night. Everyone was jubilant and ready to party. In fact, some will join me in Las Vegas next week to do just that. Lots of people have been passing Part 1. A few people have gone ahead and tackled Part 3 – and passed! Our first brave soul, Greg, took Part 2 and PASSED!

The Part 3 class will start on August 31 when we return.

Tax Professional and author Wayne Davis ( ) just passed Part I of the exam.
He says ‘I could go on and on about all the valuable info and “insider tips” that you have provided in the class lectures.”

Sign up now – and join the FUN!

A flood of Tax Professionals are interested in
taking the EA Exam. We still have a few handy
dandy totes to hold all your books, notes and discs.

Read the ebook –  Everything You Wanted to Know About the EA Exam
=== CPA Exam Review

Looking for a great course?

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Phil Yaeger’s CPA Exam Review Course

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