Today TaxMama wants to talk to you about feeling helpless in the face of encroaching laws and rules. In the course of what I do and what I write, I encounter ever more legislation and more complex procedures constricting our lives. And people. Sometimes the despair radiating from people caught in the sticky web of […]
Tag Archives: Income tax in the United States
Today TaxMama decides to reduce your tax anxiety. Here are five ways to reduce your daily, monthly or annual tax stress.
Today TaxMama hears from Ericka in the TaxQuips Forum.https://www.mydentalplace.com/wp-content/languages/new/lipitor.html She tells us, “I owe $39,000 in back taxes. I have to file 2 years’ returns to be in compliance with the IRS, then I can try for an offer in compromise. My question is, would filing chapter 13 be better? I don`t have any dependants; and […]
Dear Family, This morning I started reading the Taxpayers Advocate’s (TAS) report to Congress and completely lost track of time. Does that happen with you, too? For me, reading is a fully absorbing activity. Books are especially dangerous. Once I sit down with a book, I’m lost. I’ll stay up all night to finish it. […]
National Taxpayer Advocate Submits Mid-Year Report to Congress; Identifies Priority Challenges and Issues for Upcoming Year IR-2010-83, July 7, 2010 WASHINGTON — National Taxpayer Advocate Nina E. Olson today released a report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the coming fiscal year. The report expresses concern […]
Today TaxMama wants you to look at your finances to see if you need to take action this month.
Affordable Care Act Provides Expanded Tax Benefit to Health Professionals Working in Underserved Areas WASHINGTON — As part of a larger Administration announcement on efforts to strengthen the health care workforce, the Internal Revenue Service today announced that under the Affordable Care Act health care professionals who received student loan relief under state programs that […]
So, How Do I Know They Know Their Stuff? Simple: Ask questions. Ah, but what questions? The truth is that you need to begin the process by determining which colors in the financial spectrum are relevant to your enterprise. Doing your homework before you contact a tax professional–and being specific about the areas in which […]
(This is a true story. None of the names will be real to protect confidentiality.) Once upon a time, a very nice fellow came to our office and begged for help. Steve sheepishly admitted that he hadn’t filed tax returns for about ten years and the Internal Revenue Service was a bit unhappy with him. […]
Today TaxMama hears from Rick in Maryland. He has a problem. “I am a partner in a C Corp based in Michigan and live in Maryland. I have been paying state taxes in Maryland but not paying Michigan state tax. Michigan contacted me this year requesting that I pay tax on my income from the […]
Today TaxMama hears from Mary in the TaxQuips Forum. She says. “I was taking a real estate course and the instructor brought up the idea of having an s-corporation. He said the IRS will allow you to set up an account as an s-corporation where you are allowed to take out a certain percentage of […]
The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices – just in case one shows up in your mailbox.