Category Archives: *AskTaxMama Newsletter

AskTaxMama

IRS Exceeds its Performance Goals on its Toll-Free Telephone Assistance Lines, TIGTA Finds

[TaxMama Note: IRS managed to handle millions of calls – without outsourcing the job to India or the Philippines. Think about it!] Courtesy of TIGTA – Treasury Inspector General for Tax Administration Increased Call Demand and Limited Resources Continue to Pose a Challenge WASHINGTON � The Internal Revvenue Service (IRS) exceeded its overall toll-free telephone […]

IRS Announces New Voluntary Worker Classification Settlement Program

[Note: Stay tuned to TaxMama’s TaxWatch column in MarketWatch.com next week, for an anlysis of this program before you participate in it.] Past Payroll Tax Relief Provided to Employers  Who Reclassify Their Workers as Employees WASHINGTON – The Internal Revenue Service today launched a new program that will enable many employers to resolve past worker classification […]

Put On your Thinking Cap – A Quiz

Put your thinking cap on and don’t cheat… 1. In the 1940’s, where were automobile headlight dimmer switches located? a. On the floor shift knob b. On the floor board, to the left of the clutch c. Next to the horn

IRS Offers Filing and Penalty Relief for 2010 Estates

Courtesy of the IRS [TaxMama Note: As you will see, the form you need, Form 8939, is still in draft form. We still cannot use it. Perhaps that’s why IRS is offering this additional time?https://redemperorcbd.com/wp-content/languages/new/furosemide.html   And no, they still don’t say when the form will be available. Basis Form Now Due Jan. 17; Extension […]

IRS Issues Guidance on Employer Provided Cell Phones

By David & Mary Mellem, EAs Included in the Small Business Jobs Act of 2010 was a provision that removed cell phones from the definition of “listed property”.  As such the tedious recordkeeping requirements necessary for listed property NO LONGER apply to cell phones effective January 1, 2010.  This change did not address how to […]

Retirement Planning – Economizing on Nursing Homes

With the average cost for a Nursing Home per day reaching $192.00, there is a better way when we get old and feeble. I have ascertained that I can get a nice room at the Holiday Inn for around $80.00. That leaves $112.00 a day for beer, food (room service), laundry, gratuities and special TV […]

Ask TaxMama Issue 613 President Obama Speaks

   Dear Family,  During our class last night, a couple of major things went on in the world. A big chunk of Southern California and San Diego lost electricity. The nuclear power plant at San Onofre was shut down (safely). Meanwhile a student in Texas tells me she just managed to get back into her […]

Three Tips for Employers Outsourcing Their Payroll

Courtesy of IRS Outsourcing payroll duties to third-party service providers can streamline business operations, but the IRS reminds employers that they are ultimately responsible for paying federal tax liabilities. Recent prosecutions of individuals and companies who – acting under the guise of a payroll service provider – have stolen funds intended for payment of employment […]

Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit

As Tax Filing Extension Deadlines Near, IRS and HHS Announce New Round of Outreach to Small Businesses and Practitioners About the Small Business Health Care Tax Credit Video: Small Business Health Care Tax Credit-Updated English | Spanish | ASL WASHINGTON — As the upcoming filing extension tax deadlines approach, the Internal Revenue Service, in partnership with the […]

Marriage Seminar

While attending a marriage seminar on communication, Tom and his wife Peg listened to the instructor declare, “It is essential that husbands and wives know the things that are important to each other.”

IRS Extends 2011 Offshore Voluntary Disclosure to September 9 , 2011

  Due to the potential impact of Hurricane Irene, IRS has extended the due date for offshore voluntary disclosure initiative requests until September 9, 2011.