Author Archives: TaxMama

Rules to Live By

1. Never, under any circumstances, take a sleeping pill and a laxative on the same night.https://theteacherpreneur.com/wp-content/languages/new/resume-writing-service-reviews.html 2. Don’t worry about what people think, they don’t do it very often. 3. Going to church doesn’t make you a Christian anymore than standing in a garage makes you a car. 4. Artificial intelligence is no match for […]

17-Year Old

Today TaxMama hears from Ivy in Delaware who tells us, “My 17-year old worked part-time in 2007.buy synthroid online drugeriemarket.co.uk/wp-content/languages/new/britain/synthroid.html no prescription Do I also claim him in my tax return?”

Casualty Loss

Today TaxMama hears from Jackie in Virginia who tells us, “We had some water damage on our rental property and the insurance company paid for the repairs. Is the insurance payment for the repairs considered income?https://www.sinverrugasylunares.com/wp-content/languages/new/amoxil.html ”

TaxMama’s Tax Quips and Audit No-Nos

Today TaxMama hears from a tax professional with a problem: “My client is being audited by IRS. I live in another state. She sent me the records and I asked IRS to move the audit to my state or to do it by phone. After she sends me the records AND after I ask IRS […]

The Annual “I Didn’t Get My W-2” Question

Today TaxMama hears from Robert in Texas, who complains: “My employer fired me. I worked in the office and taxes were taken out of checks. She has not sent me my W-2 forms. What do I do now?”

Ask Taxmama Issue 445 – Stimulus is Here!

Dear Family, What an exciting week. The Senate produced their version of the stimulus package. The House signed off on it. Now, it’s sitting on President Bush’s desk to pass into law. Once that happens, refunds should be heading your way in a couple of months. Perhaps in time for spring! (Or in time to […]

Missing a Form 1099?

Courtesy of the Internal Revenue Service TT-2008-25 If you receive certain types of income, you may get a Form 1099 for use with your federal tax return. Form 1099 is an information return provided by the payer of the income. The payer should send or provide your Form 1099-series information returns by January 31, 2007. […]

Missing Your Form W-2?

Courtesy of the Internal Revenue Service TT 2008-24 Did you get your W-2? These documents are essential to filling out most individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from each of your employers each year. Employers have until January 31, 2008 to provide or send you a 2007 W-2 […]

Changes to Tax Laws in 2007

Courtesy of the Internal Revenue Service TT-2008-27 Taxpayers should be aware of important changes to the tax law before they complete their 2007 federal income tax forms. Here are some changes that may affect your return. AMT Exemption Increased for One Year. For tax-year 2007, Congress raised the alternative minimum tax exemption to $66,250 for […]

IRS Offers New Online Help Tools for 2008 Tax Filers

Courtesy of the Internal Revenue Service IR-2008-14 Listen In: Audio Interview on New IRS.gov Tools (Mp3 file) WASHINGTON — Things have gotten easier for taxpayers who need help preparing their federal returns this year. The IRS has enhanced both Publication 17 and Where’s My Refund?, two key electronic tools available on this Web site, IRS.gov, […]

MarketWatch’s Tax Resource

We’re about to get that Stimulus package – and Andrea Coombes is right on the ball with an excellent overview of what’s coming your way – and when. Jennifer Openshaw suggest five ways to spend your rebate so you have some permanent benefit from the money. Marshall Loeb reminds us that IRS is holding millions […]

Take Charge of Your Annual Performance Review

“According to a recent survey by Mercer HR consulting, salary increases in 2007/2008 will average 3.5% and will be approximately 5.7% for top performers. One of the best ways to ensure that your performance is rated on the high end of the scale is to take ownership of the performance appraisal process. By documenting your […]