Dear Family, This week, the IRS announces new limits on a variety of things for 2013. That’s the entire content of this week’s IRS news features: In IRS News we get the new limits on a variety of benefits for 2013 – with more to come in the IRS’s announcement on November 5th. The IRS […]
Tag Archives: Internal Revenue Service
Courtesy of the Internal Revenue Service WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living index met the statutory thresholds […]
Courtesy of the Internal Revenue Service WASHINGTON — For tax year 2013, the Internal Revenue Service announced today annual inflation adjustments for more than two dozen tax provisions.
Today TaxMama® hears from Tasha with a disturbing problem. “My girlfriend is thinking of filing for an education tax credit even though she is not enrolled in school at the moment. She says the person doing her taxes can issue a 1098T form if and when the IRS was to ask for proof, which will […]
Today TaxMama® hears from LiveMusic, with this interesting question. “I have expenses related to “studying the competition” so as to (hopefully) improve my own business profits. How would I categorize that?”
Dear Family, Those of us in the Los Angeles area are dealing with a special and unusual phenomenon today. The Space Shuttle is taking its final trip, heading for the museum where it will make its home – the California Science Center near USC. Many people have already camped out, hoping for a glimpse, as […]
Courtesy of the Internal Revenue Service WASHINGTON — The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system. Many of the more than 11 million taxpayers who […]
Today TaxMama® hears from Kelly in the TaxQuips Forum, who is confused. Let me summarize. “Kelly’s father died, leaving the house to the children. But the value is less than $5 million, so no estate tax return needs to be filed. Why do they need to file anything to report the sale of the property?”
Today TaxMama® hears from Mark in the TaxQuips Forum, who is bewildered. Let me summarize. “Mark received a post-doctoral fellowship that covered his salary to do research. It came with insurance and other employee benefits. The income was reported to him on a 1099-MISC. He paid taxes on the income. Two years later, the IRS […]
Today TaxMama® hears from Robert in the TaxQuips Forum, who has this tale of woe. “My car was parked in front of the house and was hit by a hit and run driver. The car had about $10k in damage that my insurance took care of. I had a professional report done where they took […]
[TaxMama Note: Instead of complaining about the system – speak up and fix it! This is your opportunity.] WASHINGTON — The Internal Revenue Service is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input on relevant areas of tax administration.buy antabuse […]
[TaxMama Note: We’ve been waiting for this.] Effective Oct. 2, 2012, the IRS implemented two separate clarifying changes to its temporary procedures for issuing Individual Taxpayer Identification Numbers (ITINs).https://www.fiercereads.com/wp-content/languages/new/resume-writing-service.html First, the IRS will allow individuals studying in the United States under the Student Exchange Visitors Program (SEVP) to get ITINs under a streamlined procedure. SEVP […]