Ask TaxMama Issue 641 – Happy Mothers Day Weekend

Dear Family,

Another blink, another week goes by. We’ve been busy trying to get the classes set up – and teaching classes this week. The Overview of IRS Collections course was terrific. I am really enjoying teaching with Michael Rozbruch CEO of Tax Resolution Services.

One of the things he is involved with is to help establish national standards for companies that provide tax representation services for folks in trouble with IRS. You’ve probably heard a lot about certain companies being prosecuted by IRS, and a variety of states, for ripping of their clients, or not delivering on claims to be able to slash taxes. Oh, you haven’t heard? Let’s see…TaxMasters recently filed for bankruptcy as a result of the prosecutions. JK Harris shut down in January after a flood of complaints to consumer affairs offices. Last year, we lost Roni Deutch, among others. So yes, we do need some standards in this industry. And it’s generally better if we can self-regulate, than to have IRS step in. Anyone interested in attending the first meeting of the 2012 Legislative & Regulatory Conference, it will take place on May 20-21st in Washington, DC.

This week’s Money Funnies is in honor of Mothers Day. It’s all about child-rearing. Enjoy!

Also, speaking of Mothers Day, Susan Holtgrefe, EA had a great idea for mom. She gathered together some special family pictures, put them into a photobook. You may have already thought of that. Susan’s contribution? WalMart will print it in a day. So, procrastinators – you still have time to produce something unique and lovely for Mom. So, Happy Mother’s Day Weekend!

In today’s IRS News, the IRS provides information for community property taxpayers and domestic partners. This is especially important, in light of recent legislation in North Carolina. And CCH, a Wolters-Kluwers Company, sheds some light on the future of certain legislation – like capital gains, alternative minimum taxes, and more – in More Questions Than Answers for 2013.

This week’s Equifax Blog topic is all about After Filing Taxes: Responding to Letters from IRS. You’ll be getting some of those soon, if they haven’t already started. This will help you avoid tax-fright. Instead, you can get into the tax-fight – since most of those notices are somewhat wrong.

We held the last session of Everything You Want to Know About the EA Exam last night. There were some excellent questions about continuing education requirements for PTIN-holding tax professionals. You can replay this week’s session – right here.

If you want to see all the TaxQuips from earlier in the week, drop by here. Topics include  Audit Risk, Zero Tax on Capital Gain, Opps, Missed a W-2 ! and Taxable Retirement Income .

The TaxMama SunShades arrived last week. I love it! This is so much better than the clunky accordian fold ones. You can just fold it in half when you take it off (or scrunch it back down to about 5 inches) – and then pop it back up when you park. Although I got them for presents to the students, I like my SunShade so much that I’ll give you a chance to buy them, too. (Quantity discounts are built into the shopping cart, if you want more of them for your friends or clients.)

TaxMama’s EA Exam Review Course is open for registration. The early-bird discount is over.  But if you want to join the class, please sign up now, so you can get the books and software in time.

1) Family members get a special 20% discount until May 31st – only on the full course – Live or Self-Study

2) Live students course materials include a terrific resource – the TaxBook WebLibrary – which includes materials for the 1040, as well as all business taxes – plus the All States resource. There are three years worth of detailed guidance. Our self-study students can also buy it – at a discount.

Note: Present members of the class – do NOT re-register. You don’t have to pay for the class again. Here is the order form for 2012 books and software.(Must log into Board)  

Remember to follow TaxMama®’s Tweets –

Have you grabbed the TaxQuips Widget for your phone, social networking page, website, or…? You’ll get the TaxQuips as soon as they published – about an hour before they are distributed in by e-mail. It’s a fun gadget. Just pick up the code and paste into your site or phone app.

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

Weekly Equifax blog is still going strong.
Filing Taxes: Paperwork For Your Tax Professional
Avoid Paying Penalties on Estimated Taxes
Learning from Your Tax Filing Mistakes
After Filing Taxes: Responding to Letters from IRS


What is the Best Entity for Your Business?
The Non-Profit as a Business Model
Tax Issues Regarding Copyrights and Trademarks
Business Licenses You Need and Trust
Now That You Have an LLC, it’s Time to Make Tax Decisions

Home Based Business Accounting Software Options
Writing off your Family’s Vacation

You can find daily TaxQuips into YouTube videos

As always, we love your feedback, opinions and ideas.

You are what makes all this fun – and interesting!

TaxNerd gear makes a bold statement year-round.

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama®


Your TaxMama®  is watching…out for you.






05/15/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month
06/15/2012 Individuals, Farmers & Fishermen Pay 2nd Quarter Estimated Tax Payment
06/15/2012 Corporations – 2nd Quarter Estimate Tax payment
Due 06/15/2012 Estates & Trusts 2nd Estimated Tax Payment
06/15/2012 Employers Make Monthly Payroll tax deposit on the 15th of each month
06/15/2012 US Taxpayers Overseas Individual Personal Returns due
06/15/2012 US Taxpayers Overseas Claim Foreign Earned Income
06/15/2012 US Individuals Overseas Personal Return Extensions due
06/30/2012 File Form TDF 90-22.1 – Report of Foreign Banks with $10,000 anytime during year

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Take TaxMama®’s 2011 EA Exam Review Class

I’m geting notes from people who are passing their exams. How exciting!

Replay the session –

Everything You Wanted to Know About the EA Exam

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