Category Archives: IRS Forms

Team Sponsorship

Today TaxMama hears from Stacy in California with this situation. “My husband runs a travel softball team and we allowed the players to get sponsors. The rule was that the first 25% of the sponsorship went to the team; and the other amount went to their individual accounts. We have a player who did this, […]

Home Provided by Employer

Today TaxMama hears from Joe in Maryland with an interesting problem. “I have been offered a great job but I am a little concerned about having to move from my home to the home that is owned by the company that wants to hire me. I will be required to reside in the company home […]

First $2,400 of Unemployment Benefits Tax Free for 2009

IR-2009-29, March 26, 2009 WASHINGTON — All or part of unemployment benefits received in 2009 will be tax free for many unemployed workers, according to the Internal Revenue Service. “This morning we learned that a record 5.6 million people were receiving unemployment benefits in the middle of March. This underscores the need for the relief […]

W-2 from ex Boyfriend

Today TaxMama hears from Holly in Indiana with a huge problem. “Several years ago, I dated a man that painted homes for a living. Periodically I would help him, but never full azithromycin online no prescription I never was given a check or any form of money or income. We lived together and […]

An Extra 1099-MISC

Today TaxMama hears from Brian in Wisconsin who got a surprise. “Two weeks ago I filed my taxes and everything went fine. Well. I just a form 1099-misc from a website where I made some money last year ($800). what can I do now?”

Huge IRS Bill

Today TaxMama hears from Jeff in Massachusetts, who tells us. “I just received a notice from the IRS for 2007 claiming I owe $35,000 in additional taxes. After picking myself up off the floor, I looked at my 2007 return and realized my mistake was failing to file a schedule D showing that the gain […]

Emotional Distress

Today TaxMama hears from Keri in Massachusetts, who tells us. “I just received an offer for a $50,000 settlement for emotional distress due to a sexual harassment lawsuit I have against a company. They want to 1099 me at the end of the year for the settlement. So I need to know before I agree […]

Reporting Mexican Income

Today TaxMama hears from B in Washington State, with this question. “If I have passive rental income of 0,000 from a business in Mexico that goes into a trust in Belize, am I required to report that on my 1040 in the US? I am a US citizen and live in the US 100% of […]

Five Important Changes for Taxpayers

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 […]

Solar System

Today TaxMama hears from Jean in Glendale, zoloft canada 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.”