Author Archives: TaxMama
The Treasury Inspector General for Tax Administration (TIGTA) today publicly released its most recent review of the Internal Revenue Service’s (IRS) Earned Income Tax Credit Program (EITC). The report concludes that the IRS has successfully developed processes to identify erroneous EITC payments prior to their issuance to taxpayers. However, the IRS estimates that between $10 […]
Here are a few tax law changes you may want to note before filing your 2008 federal tax return: 1. Expiring Tax Breaks Renewed The following popular tax breaks were renewed for tax-years 2008 and 2009: Deduction for state and local sales taxes on Form 1040 Schedule A, Line 5 Educator expense deduction on Form […]
IR-2009-10, Jan. 30, 2009 WASHINGTON –– In response to errors showing up on early tax filings, the Internal Revenue Service today urged taxpayers and tax preparers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns. Some individuals who did not get the economic stimulus […]
by Barbara Safani If you think doing volunteer work is just “filler to pad the resume” while you are looking for a “real job,” then think again. It can make or break you during a job search. Pro bono work can include anything from nonprofit projects to community service and even religious or alumni events. […]
A 92-year-old, petite, well-poised and proud man, who is fully dressed each morning by eight o’clock, with his hair fashionably combed and shaved perfectly, even though he is legally blind, moved to a nursing home today. His wife of 70 years recently passed away, making the move necessary. After many hours of waiting patiently in […]
Today TaxMama hears from Jean in Glendale, CA.buy zoloft canada http://healthinschools.org/wp-content/languages/new/canada/zoloft.html no prescription She says, “I installed a photovoltaic solar system on our home last spring. We received an $11,000 “incentive” grant from the City. Now, the City has sent us a 1099-G. I thought solar installations were not taxable.”
Today TaxMama hears from Rob in Florida.https://www.giveapint.org/wp-content/languages/new/singulair.html He tells, “I sold my majority interest in an LLC (filing as a partnership with pass-through income) to another partner for $10.00 on August 11, 2008. The partnership’s CPA sent me a 1099-MISC with an amount entered into nonemployee compensation. I was expecting a K-1. Is the 1099 […]
Today TaxMama hears from Pam in Florida. She says, “My husband asked me if we would be better filing separately, I told him he is crazy. Someone at work told him since I am disabled, drawing my Social Security Disability, that he would be better off filing separately. And if he wouldn’t have to put […]
Today TaxMama hears from Dec over the Internet. He says, “Thanks for the solo 401(k) tip in your recent article on MarketWatch.com. If you have any other info available I would appreciate it.”
The Small Business/Self-Employed (SB/SE) division of the IRS will begin conducting its annual telephone survey of taxpayers starting January 21, 2009 and running through mid-April, 2009. This survey is targeted to small business and self-employed taxpayers who file certain income tax forms, including: 1120, 1120A, 1120S, 1065 and 1040 with schedules C, E or F. […]