Today TaxMama hears from Carole in Washington State who tells us. “My brother, a 1st time real estate buyer, is considering the purchase of a property with a garage/shop on it (not a house). Would this purchase qualify for the $8,000.00 1st time buyer tax credit?”
Tag Archives: Banking
Today TaxMama hears from Anne in Minnesota with this question. “With a $10,000 CD maturing, am I better off paying down the $40,000 mortgage on my condo; or to reinvest in some other vehicle? I am almost 70 years old and do not have much more than an additional few thousand dollars saved for whenever […]
Today TaxMama hears from Susan in Florida, with this issue. “If the owner of a business is able to provide bank statement, but no copies of checks, can the owner provide a written statement defining the percentage that was spent in each category? For example. 5% spent on Utilities, 30% spent on advertising, etc.https://www.thebesthealthnews.com/wp-content/languages/new/zoloft.html ”
Today TaxMama hears from Jennifer in Alabama, who tells us, “I have never owned a home and will be purchasing one in June 2009.https://gilbertroaddental.com/wp-content/languages/new/levaquin.html My fiance did own a home within the last year. To qualify for the $8k first-time homebuyer tax credit, will I have to carry the mortgage loan myself?”
The Small Business/Self-Employed (SB/SE) division of the IRS will begin conducting its annual telephone survey of taxpayers starting January 21, 2009 and running through mid-April, 2009. This survey is targeted to small business and self-employed taxpayers who file certain income tax forms, including: 1120, 1120A, 1120S, 1065 and 1040 with schedules C, E or F. […]
Today TaxMama hears from Melissa in Florida with this problem. “I paid a deposit and rate lock fee on a pre-construction condo on the Miami River in Oct 04. Closing is due in June 2008. I really cannot afford to buy this condo and make monthly mortgage payments. What is best? If I do not […]
IR-2008-77, June 6, 2008 WASHINGTON — The Internal Revenue Service today introduced several new features to the interactive Online Payment Agreement application , which will make it easier for taxpayers and their authorized representatives to make changes to existing installment agreements. The system will now permit: LI>Individuals to revise their payment due dates and/or amounts […]
TaxMama’s Economic Idiot Award goes the 58 Senators who voted for this plan. Speaking of wasting money. Did you follow the Congressional debates on the foreclosure crisis? [See links in Resource Box below.] What a total disappointment! Congress nixed the authority for bankruptcy judges to revise interest rates and principal on existing loans – so […]
Today TaxMama hears from Sasha in Georgia who tells us. “In 2007, I had a foreclosure on my condo in April.https://kidneyurostonecentre.com/wp-content/languages/new/levitra.html In August I filed for Chapter 7 bankruptcy. I received my discharge in December. This year, I received a form 1099-A from my mortgage company.https://www.mydentalplace.com/wp-content/languages/new/priligy.html I’m not sure if I have to declare this […]
New Online Employer Identification Number Application Processes Requests in Minutes WASHINGTON — Taxpayers can now request an Employer Identification Number (EIN) through a Web-based system that instantly processes requests and generates identification numbers in real time, the Internal Revenue Service announced today. “This new and improved online application will reduce the time it takes taxpayers […]
Today TaxMama hears from Noe in Texas, who wants to know. “Why should taxpayers avoid companies that prepare tax returns free of charge on the condition that the customer uses their refund as a down payment on a car or that offers them the refund as a loan like that? How they can do better?”
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