Ask TaxMama Issue 628 – Cheery Cherry Month

Dear Family,

This is SuperBowl Weekend. The world will come to halt while sports fans eat, watch, and cheer for their favorite teams. This event is one of the highest grossing events for advertising revenue – while the show’s sponsors try to outdo each other with the best SuperBowl ads. They are such works of art, the ads themselves have fans. Do you want to see them? Someone has archived the last 14 years worth of SuperBowl ads.

We’re deeply into the heart of tax season now. But, apparently, there are some delays in processing refunds. I’ve been getting calls from journalists asking if I know anything. Don’t worry. It’s just IRS trying to safeguard our nation’s funds. They were working through some of the security issues last month. If you file now, you should get your electronic deposits quickly. However, if your tax return is claiming a refundable credit (like free money from Uncle Sam), it will be held up a few days while your tax return is run through a quickie criminal review.  

IRS is fighting off concerted efforts at identity theft. I learned about some techniques people are using to steal Social Security numbers and file batches of fake, refund returns. I won’t tell you how it’s done. One of my pet peeves is when journalists tell you HOW TO commit a crime, or how to overcome safeguards that are in place to set off alarms…and things like that. Now that they explained to me how it’s done, I understand the scope of the problem. If you were a victim of any kind of identity theft, remember to call IRS and let them know, too – not just the credit agencies.  

Which brings us to today’s IRS News – which is all about the IRS sweeping the nation to arrest identity theft criminals. Our second article is all about the top 12 Regulatory Changes businesses should know about this year, courtesy of Paychex, the payroll folks.  

After all that heavy stuff, you need a laugh. So, let’s visit mom, trying to get her son to go to school, in today’s Money Funnies.  

More about Something fun.  Last week, I told you about Wazzub. Quite a few people dropped by to sign up. One person hinted that I might be spamming. But James actually asked wassup with Wazzub? Good question. Why is TaxMama telling you about something that just might be slimy?  Read the response in the TaxQuips Forum. Over 1 million people have already signed up. So, they will have the power to generate a substantial amount of advertising revenue – and good content. Take a chance – join up! And invite your friends. You’ll get paid for doing that.  

Let’s address a few tidbits of news – and go back to work!

1) Weekly Equifax blog is still going strong.
Saving Money On Taxes For Business Expenses

February To Do List

AccountingWeb Blog
Mitt & Newt, What can we Learn for Our Clients?
Mitt & Newt, again

2) Radio and news Interviews done recently or coming up 

Smarter Travel by Tim Winship of
Are Taxable Frequent Flyer Miles in Your Future?

International Business Times by Hao Li
Small Business Accounting Tips Tricks and Advice from TaxMama …
Small Business Ideas for Women at Home: Working with Realities

January 24, 2012Quickie interview withBob McCormick’s Money 101
about Mitt’s and Newt’s tax returns and tax reduction tips

February 27, 2012 –  Bob McCormick’s Money 101 show on KFWB.
2-hours. Call us 888-KFWB-980 (888-539-2980)

February 22, 2012 #SmallBizChat with Melinda Emerson

3) CPE Link courses
Great class coming in February – Tax Checklist for Knotty Divorces

And we recorded GOOD self-study RTRP course next week.
It will be ready for prime time by about the Ides of March.

You can find daily TaxQuips into YouTube videos

This week’s TaxQuips

Moved out Too Soon – Today TaxMama® hears from Elisa in the TaxQuips Forum with this question. “I purchased a home in 2009 getting a first-time homebuyers credit. I lived in it for 1 year.  I moved to be closer to work and am renting an apartment. I have been renting my house out since July 2010.  How will me […] Read the full article →

Deducting Uniforms – Today TaxMama® hears from our friend Kristi who is starting a new job. “My new job requires me to wear brown pants and either a certain green or blue shirt.  I would only wear these clothes for work.  Does that qualify as a uniform?”  Read the full article →

Delivering Newspapers – Today TaxMama® hears from Trina in the Tax Quips Forum who wasn’t an employee. “I started working for a newspaper company over the summer of 2011, delivering papers to homes using my own vehicle. The company did give me company checks, but they did not take any taxes out. I believe they called their employees […] Read the full article →

Child Support Payment – Today TaxMama® hears from Danny in the Tax Quips Forum with this question. “My kids stay with their mother from Sunday noon until Thursday noon; then stay with me from Thursday noon until Sunday noon. I pay $140 monthly in child support. Can I claim them in my taxes?” Read the full article →  

Remember TaxMama’s Tax Calendar has been updated for 2012, with enough information to carry you through to the first quarter of 2013.

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®


Your TaxMama®  is watching…out for you.





01/04/2012 Employers Make Semi-Weekly Payroll tax deposit on Wednesday’s & Friday’s
01/17/2012 Individuals, Farmers & Fishermen Pay 4th Estimated Tax Payment
01/17/2012 Estates & Trusts 4th Estimated Tax Payment
01/17/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month
01/31/2012 File Heavy Highway Vehicles Form 2290 – various deadlnes – see form instructions
01/31/2012 File Form 730 – Tax Return for Wagers (Accepting Wagers, Pool, Lottery for Profit). Note: This is a monthly form.
01/31/2012 Furnish W-2s recipients
01/31/2012 Furnish 1099 MISC to recipients 
01/31/2012 Furnish 1099 Interest to recipients 
01/31/2012 Furnish 1099 Dividends to recipients 
01/31/2012 Furnish 1098s to borrowers – Mortgage interest
01/31/2012 File 4th, Quarter Payroll Reports
01/31/2012 File Employers Annual Payroll Reports
01/31/2012 File Annual Payroll for Agricultural employees
01/31/2012 Employer’s Annual Federal Unemployment (FUTA) Tax Return
01/31/2012 Individuals who missed 4th estimated pmt – May file & pay taxes now
02/15/2012 Employees to File new W-4 with Employer
02/15/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month
02/29/2012 File Paper copy W-3′s with Social Security Admin including copies of W-2′s
02/29/2012 File paper copy of US transmittal of US information Returns
02/29/2012 Farmers & Fisherman – Use Personal Income Tax Return – Sole Proprietor
02/29/2012 Employers File Annual Report for Employees TIP Income – Form 8027

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.




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