Today TaxMama hears from Sal, who tells us. “In the year 2006 an employee of a non profit social service organization located in New York State received third-party sick pay directly from an insurance company. A separate W-2 showing the sick pay was issued to the employee. It shows no Federal, State or Local withholding […]
Tag Archives: Internal Revenue Service
Today TaxMama hears from Sherri, who needs to know. “My daughter is 17. She has worked all year since I was hurt on the job and haven’t been able to work. Can she claim head of household? She helped out with the bills when I was hurt. I don’t want her to get in trouble; […]
Today TaxMama hears from Karen in the Tax Parlor, who’s curious. “I’m seeing in my tax prep software, a reference to “inmate income”. Is income earned by inmates taxed or handled differently? Just curious.”
Today TaxMama hears from Mike in the Tax Parlor, who tells us “I started working overseas in Kuwait for a US company in March 2007. I am a USMC contractor planning on working this contract through September 2008. Will I be able to take advantage of the foreign earned income credit exclusion? And what is […]
Today TaxMama hears from Tom, who’d like to know. “Can you point my wife and me to any basic resource for information on tests to determine whether one needs to do withholding or taxes in general for nanny services? And, then, how to actually execute the necessary record keeping and filings.”
Today TaxMama hears from Martin – and several other MarketWatch readers, who say. “In your April 14th article in the Tax Watch section of “Marketwatch.com” you advised that if you are short of cash to pay your taxes you should file for an extension and pay when you file. I believe that’s incorrect: When you […]
Today TaxMama hears from Georgette in the Tax Parlor, who says. “While I assume that I should be reporting the income I earn online, ClickBank in particular, I am unsure about state tax for PA. I am not charging state tax for digital downloads. So do I only have to report the income I make […]
Today TaxMama hears from Sylvia in the Tax Parlor, who tells us. “After many years in business, my husband got an EIN last year so he could send out 1099s. Well, just after we finished filing our joint tax return this year, he gets a letter from IRS saying he has to file a quarterly […]
Today TaxMama hears from Fran in the Tax Parlor, who tells us. “My mother died in 2006 and received Social Security monthly, getting about $700 per month. In addition, she had investments totaling about $60,000 that paid less than $5,000. Do I need to file a return? If so, what info and forms do I […]
Today TaxMama hears from Ray in the Tax Parlor, who tells us. “Two friends and I own some rental homes. One of us says he can deduct not only the total interest paid on one of the properties, but also what he calls the “deferred interest.” In other words, the unpaid interest by which the […]
Today TaxMama wants to alert you to the due dates in your state. You’re all aware that IRS changed the due date of your personal tax return to April 17th this year, right. But did your state do the same? At last week’s breakfast meeting of the San Fernando Valley Chapter of the California Society […]
Today TaxMama hears from TC a MarketWatch reader, who says “It turns out my income has been to high for me to use a Roth IRA contribution for years. But my tax pro didn’t catch this error – and now I am over-contributed for several years and will face a 6% penalty for each year […]