Today TaxMama hears from Ken in the Tax Parlor with this tale of woe. “I received a 1099-C in 2005 and included it on my tax return. The credit card company has since taken me to Arbitration and my defense is that I have already paid taxes on this debt. Is there some publication that […]
Category Archives: Tax Returns
IRS Plans Feb. 3 Start Date for Processing Extender Claims IR-2007-03, Jan. 8, 2007 Washington — The Internal Revenue Service plans a Feb. 3 start date for processing tax returns that claim key tax provisions enacted in December. The IRS announced today that it will begin processing both e-file and paper tax returns on Feb. […]
Today TaxMama hears from Manola in the Tax Parlor, who says, “I sold a house, the closing was on 12/29/06. The proceeds were to be wired to my acct. on that date, but it posted 1/2/07. Do I pay my taxes on the monies (it is not a primary residence), on 1996, 1997, or whenever is […]
Today TaxMama hears from Dianne in the Tax Parlor, who has a long, complicated question about the new Telephone Excise Tax Refund. Her question is probably a lot like yours. So, we’ll summarize it here – and you can read the details in the Tax Parlor, OK? ” Over the years, we a variety of […]
Today TaxMama hears from Tony in Ohio who tells us. “I am currently getting garnishments taken out of my wages. Is this refundable? Or do I at least get credit towards filing my next return?” ~~~~ Dear Tony, If your paycheck is being garnished by IRS or your state, that money is going towards paying […]
Today TaxMama hears from Mike in the Tax Parlor who tells us “My wife and I formed an LLC and began doing business last January. We are a home-based craft business and have done all our business under my SSN not a Tax ID #. Can we file our expenses/income for the business under our […]
Today TaxMama hears from Lisa, who tells us: “I recently read your article regarding divorce and taxes on MarketWatch.com. You mentioned filing a Form 8888 to have refunds split and directly deposited. My husband has been out of permanent work since June. He has been drawing unemployment and doing odd jobs. My income is approximately […]
Today TaxMama hears from Debra in New York, “I am 19 and completely disorganized. I have lost my tax returns from about 2 years ago. How do I find them? Please Help. Thank you ”
Today TaxMama hears from Ken in the TaxParlor who says, “My wife is part of a Subchapter S corporation for a craft store. If the corporation does not declare a dividend can we still write off all of her business expenses on our tax return? How many years can we deduct expenses before the corporation […]
Today TaxMama hears from Tammy in Pasadena, CA who’s upset, “I filed my 2005 tax return as was getting a pretty sizable return. IRS kept it. They told me that I would have to file for 2001 – 2004 to make sure that I didn’t owe them any money before they would give me the […]
Today TaxMama hears from Troy in San Francisco, who tells us, “I made a mistake on my 2002 and 2003 Schedule D. My losses were greater than I reported. Since I already took the maximum $3,000 loss for 2002 and 2003, the only number affected is my capital loss carryover (not my 2003 Adjusted Gross […]
Today TaxMama hears from Mary in Ohio, who says, “I am 15 and have been working for the past 3 years. I have my own business (tutoring). What amount do you have to earn in order to pay taxes on it?”