IR-2010-53, April 27, 2010 WASHINGTON — As a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee’s children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010. The Internal Revenue Service announced today that these changes immediately allow employers with […]
Author Archives: TaxMama
A rabbi was walking down the street when he noticed one of his congregants on the other side of the street entering a Chinese restaurant. The rabbi crossed the street to peer in the window of the restaurant to see what his congregant was doing in the tref (non-kosher) restaurant.
Today TaxMama hears from Mary in the TaxQuips Forum. She says. “I was taking a real estate course and the instructor brought up the idea of having an s-corporation. He said the IRS will allow you to set up an account as an s-corporation where you are allowed to take out a certain percentage of […]
Today TaxMama® wants to discuss tax authority in general. TaxMama.com is a terrific service, and provides substantial guidance, pointing you to more information to help you address your tax issues. But do you really think you’ll survive an audit if you say, “TaxMama® says it’s OK?”
Today TaxMama hears from Mike in NY, whose friend has been putting the wrong address on his tax return for years. Of course, as a result, his refund has been going to the wrong address. How can he get his missing refunds back for 2006-2009?
Today TaxMama needs to explain the purpose of the Taxpayers Advocate Service, based on a misconception expressed in the TaxQuips Forum. Peter says his problem is in the hands of the Taxpayers Advocate. So he’s just going to sit back and wait for them to take care of everything.
Dear Family, It’s nice to get a few days off, isn’t it? In honor of Earth Day, Arbor Day and all that, we went camping in the desert to see the spring blooms before they burn out. Coincidentally, it turns out that National Park System is offering free admissions this week – through tomorrow. So […]
The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices – just in case one shows up in your mailbox.
Courtesy of NAEA – www.naea.org On Wednesday, April 14, 2010, the House passed by on overwhelming majority (399-9) HR 4994 (The Taxpayer Assistance Act of 2010), which was sponsored by Ways and Means Oversight Subcommittee Chairman John Lewis (D-GA). The bill includes several items of note to enrolled agents and, specifically it:
A father walks into a restaurant with his young son. He gives the young boy 3 pennies to play with to keep him occupied.https://diwa.gimpa.edu.gh/wp-content/languages/new/college-paper-writing-service.html Suddenly, the boy starts choking, going blue in the face. The father realizes the boy has swallowed the pennies and starts slapping him on the back. The boy coughs up 2 […]
Today’s topics included: Introductions of the participants – Suzan Ali, EA; Tom Buck, CPA, Rita Lewis, EA, Carline Williams – about to be EA; Wayne Davis – about to be EA; Joan Hughes, EA Dealing with aging and retirement Starting to use TaxMama’s Family Forum Homebuyer’s Credit follow-up Ethical question about clients and Social Services […]
Dear Family, Wow. What a hectic tax season. We were so exhausted that we didn’t even hold our annual end of tax season party. Lulu opted for leaving early and going somewhere to get pampered. I was going to do the same thing, but the phone kept ringing with clients with last-minute emergencies. And a […]