Paychex, Inc., one of the nation’s leading providers of payroll, human resource, and employee benefits solutions for small and medium-sized businesses, today released its top 12 in ’12 list, containing the top 12 potential regulatory changes that America’s small businesses need to know about in 2012. Paychex works closely with the IRS and other government […]
Category Archives: *AskTaxMama Newsletter
AskTaxMama
You may remember the story – the one about the woman who shook her son awake in the morning. “Get up and get ready for school,” she urged. “You’re going to be late!” “Ah, Mom,” he pleaded “I don’t want to go to school. The kids don’t like me. The teachers are against me. Even […]
Dear Family, Earlier today, IRS announced that electronic refunds are on target. People can expect to find them in your bank accounts within about 10 days. But, some refunds will be delayed. IRS is beefing up the fraud detection system. Returns with Earned Income Credits, American Opportunity Credits and other refundable credits will take a […]
Your kids can be helpful at tax time. That doesn’t mean they’ll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits.http://wuafterdark.com/wp-content/languages/new/research-paper-help.html Here are 10 things the IRS wants parents to consider when filing their taxes this year.
Courtesy of the IRS [TaxMama note: Read this in conjunction with today’s MarketWatch article – How to file your taxes for free WASHINGTON — Over 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations providing vital tax preparation […]
The following claims to be a question given on a University of Arizona chemistry mid-term, and an answer turned in by a student. The answer by one student was so ‘profound’ that the professor shared it with colleagues, via the Internet, which is, of course, why we now have the pleasure of enjoying it as […]
Dear Family, Time keeps on slippin’, slippin’ into the future… Are you feeling that way? It was just Monday – and pow! The week is nearly over. I got a ton of work done. But it feels as if I’ve done nothing. Clearly, I need to take this month’s celebration seriously, and indulge in the […]
Courtesy of IRS. WASHINGTON — The Internal Revenue Service today released a new set of tax gap estimates for tax year 2006. The tax gap is defined as the amount of tax liability faced by taxpayers that is not paid on time. The new tax gap estimate represents the first full update of the report […]
WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the combination of the IRS’s expanding workload and declining resources as the most serious problem facing taxpayers. The result, the report says, is inadequate taxpayer service, erosion of taxpayer rights, and reduced tax compliance. The Advocate expressed her continuing […]
[TaxMama Note: Another bookkeeping nightmare. Are YOU keeping track of how you pay YOUR vendors and service providers?] No 1099-MISC if paid by credit card (01-19-2012) In the instructions to Form 1099-MISC, the IRS has made it clear that payments made with a credit card, or through any third-party payer, are not reported on Form […]
– The hardest thing in the world to understand is income tax. Albert Einstein – I am sure I could understand income taxes if I put my mind to them. But if I took the time to do that, the world would be deprived of many of my books. Isaac Asimov (wrote over 500 books) – If […]
We have some exciting news in our TaxMama EA Exam Review Class family. Not one, but TWO of our students have been appointed to the Taxpayer Advocacy Panel (TAP). Boris Mikhail and Terri Klug are on the team, working with the Taxpayers Advocate Service to help improve the Internal Revenue Service’s interactions with taxpayers. Hip, […]