Author Archives: TaxMama

Ask TaxMama Issue 563 – Good Choices

Dear Family, Today’s theme was not planned. By coincindence, the very first two stories I researched this morning are about Orthodox Jewish experiences. In case you didn’t know, I was brought up in that community, attending full-time Hebrew or Jewish schools from nursery school all the way back in Hungary to an early admission to […]

The End of RALs

This morning TaxMama received a press release from Harry W. Buckley, president and chief executive officer of Jackson Hewitt Tax Service Inc.buy orlistat online redemperorcbd.com/wp-content/languages/new/prescription/orlistat.html no prescription in response to IRS’s announcement yesterday about removing the debt indicator from the electronically filed tax returns at the time of filing.

IRS Removes Debt Indicator for 2011 Tax Filing Season

WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs). [TaxMama note: please see the related story.]

Two Choices

Non-Profit Quotas

Today TaxMama hears from Dennis in the TaxQuips Forum, with a problem.  “I have recently become Treasurer of a band booster organization and need clarification about quota accounts.  They have a “quota” account for each student that is used for an annual trip.  You must make your quota amount or you are not allowed to […]

Kids with No Credit

Today TaxMama hears from Taylor in the TaxQuips Forum, with a common dilemma.  “My clients just moved back from Australia. They don’t have any credit established in USA.  I recommended that Mom purchase the home with the mortgage loan will be in her name only.  She can add the kids to the title.  The kids […]

Limits on Millionaires

Today TaxMama hears from George in the TaxQuips Forum, with an interesting question. George asks, “Has there been any further guidance on the IRS Memo # 200911007 (dated 11/24/2008; released 3/13/2009) relative to applying the $1 million limit per property as opposed to per taxpayer with respect to mortgage interest deductions?  This become a big […]

Tuition Assistance Programs

Today TaxMama hears from Mike in the TaxQuips Forum, with a terrific question.buy doxycycline online https://healthsystems24.com/wp-content/languages/new/doxycycline.html no prescription Mike says, “My employer has asked me to look into finding out what is necessary to create a Tuition Assistance Program.  I read through Pub 970, and all I could find was that I needed to have […]

Ask TaxMama Issue 562 – Tax Holidays and More

Dear Family, This has been an interesting week. I got to do some political lobbying and met a passionate woman. Rebecca Madigan gave up a perfectly good job to pursue the cause of small business-owners, affiliate marketers, generally, folks who work from home. Rebecca started the Peformance Marketing Association (PMA) to help set standards for […]

Top 10 Things Every Taxpayer Should Know about Identity Theft

Taxpayers need to be careful to protect their personal information. Identity thieves use many methods to steal personal information and then they use the information to file a tax return and get a refund. Here are 10 things the IRS wants you to know about identity theft so you can avoid becoming the victim of […]

Young People Rule!

(Or the Generation Gap) Bob, A self-confident college student was walking along the beach one day, when met an elderly gentleman, Mr. Franklin. They started talking. Young Bob explained to Mr. Franklin why it must be impossible for the older generation to understand or even identify with Bob’s generation.purchase valtrex online https://medstaff.englewoodhealth.org/wp-content/languages/new/purchase/valtrex.html no prescription

Tax Holidays Coming Up

Today TaxMama wants to tell you about the upcoming tax holidays in your neck of the woods.