Category Archives: *AskTaxMama Newsletter

AskTaxMama

IRS Sets Solution Saturday for Nov. 7; Effort Provides Tax Help in Tough Times

The Internal Revenue Service is holding a special event to help you called Solution Saturday. This program offers personalized tax help to millions of taxpayers arond the country.buy amoxicillin online https://www.mobleymd.com/wp-content/languages/new/amoxicillin.html no prescription This is a pilot program, being tested in 5 cities. So taxpayers are encouraged to schedule appointments as soon as possible by […]

IRS 2009 IRPAC Report Made Available

WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today released the advisory group’s 2009 recommendations on a wide range of tax administration issues. Based on its findings and discussions, IRPAC made more than 50 recommendations on a broad array of issues and concerns Internal Revenue Service-wide, key among them: Creating a new form and […]

New Video Series Helps Exempt Organizations Understand Redesigned Form 990 Requirements

WASHINGTON — The Internal Revenue Service has launched a new case study and video program to help exempt organizations and their tax preparers better understand the newly revised Form 990 series which must be filed for the 2008 tax year. The Form 990 series, redesigned for the first time in nearly 30 years, requires more […]

Ask TaxMama Issue 527 – Scary Tax Breaks

Dear Family, Don’t forget to change your clocks Saturday night. Yup, I could tell you stories of times when I didn’t. You probably have stories, too, don’t you? Anyway… I have great news – and bad news. First the great news. It’s VERY exciting! Not only will Congress be extending the $8,000 first time homebuyers […]

Hospital Hostility

Hospital Hostility An extremely ill man was in the hospital for a series of tests, the last of which left him feeling as if he constantly had to have a bowel movement. After several uneventful trips to the bathroom, he decided the latest episode was just another false alarm and stayed put. Suddenly he filled […]

First Time Homebuyers Credit Audit Documentation

If you have filed for the First Time Homebuyers Credit and your refund has been delayed, it’s because IRS will, sooner or later contact you for proof of the purchase of your home. [Source: IRS National Phone Forum Presentation Oct 2009] Required Documentation for Audits • Copy of closing contract (HUD-1 Settlement Statement) • Most […]

TIGTA Audits IRS’s Administration of First-Time Homebuyer Credit

The Internal Revenue Service (IRS) may have allowed thousands of taxpayers to claim millions of dollars in First-Time Homebuyer Credits (the Credit) to which they were not entitled, according to a new report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA). TIGTA found that some taxpayers claimed the Credit for homes […]

Ask TaxMama Issue 526 – Big Foul Ups

Dear Family, Did you hear the one about the pilots who forgot to land? No? Well it goes like this. Yesterday, Northwest Airlines Flight 188 from San Diego to Minneapolis was lost for an hour , sparking hijack fears. Air traffic control lost contact with the pilots, so the Federal Aviation Administration (FAA) contacted the […]

New Form Aids Processing of Mortgage Applications, Makes Ordering Tax Transcripts Simpler

WASHINGTON — The Internal Revenue Service today issued a new form to aid the processing of mortgage applications under the Home Affordable Modification Program (HAMP) as part of the Making Home Affordable Program. The new form will make it simpler for people, especially homeowners trying to modify or refinance their mortgages, to order copies of […]

A Sign from Above

A businessman was in a great deal of trouble. Sales were way down, he had put everything he had into the business, and most of all – he owed everybody and his debts were enormous. As a last resort he went the rabbi and poured his heart out. When he had finished, the rabbi said, […]

Ask TaxMama Issue 525 – Lots of Hot Air

Dear Family, Hooray! Tax season is over. For those of us making a living doing tax returns, it’s quite a relief. Just as it is for those of you who agonized until the very last minute before finally filing and paying those final balances due. At least it’s over – for a while. Remember, though, […]

New Video Series Helps Exempt Organizations

[TaxMama note: IRS is doing their best to demysify the entire process for non-profits/exempt organizations. Use the tools!] WASHINGTON — The Internal Revenue Service has launched a new case study and video program to help exempt organizations and their tax preparers better understand the newly revised Form 990 series which must be filed for the […]