Today TaxMama® hears from Susan in the TaxQuips Forum with a divorce question for Valentine’s Day. “What happens, taxwise, to the relationship of stepchildren when the parents divorce and the stepchild stays with the stepparent? Do they go back to just being the girlfriend’s kid again? I hear about stepparents adopting their spouse’s children. Is […]
Tag Archives: Internal Revenue Service
Dear Family, It’s a beautiful, sunny day here in Southern California. Lots to do. And oh yes, don’t forget. Valentine’s Day is next week. If you’re going to get something…order it now (like these lovely hearts…). Hopefully, you’re making progress getting your tax returns ready for filing. Please remember, don’t file too early. There are […]
WASHINGTON — The Treasury Department and the Internal Revenue Service today issued proposed regulations for the next major phase of implementing the Foreign Account Tax Compliance Act (FATCA). Enacted by Congress in 2010, the law targets non-compliance by U.S. taxpayers using foreign accounts.
IRS YouTube Video: IRS2Go 2.0 Podcast: IRS2Go 2.0 WASHINGTON — The Internal Revenue Service announced today the availability of IRS2Go 2.0, an expanded version of its smartphone application designed to provide taxpayers easier access to practical tools and information. The new app, available on the Apple and Android platforms, adds a new YouTube feature, news […]
WASHINGTON — The IRS today released the guidance and forms that employers can use to claim the newly-expanded tax credit for hiring veterans. The IRS also announced that employers will have more time to file the required certification form for employees hired on or after November 22, 2011, and before May 22, 2012. The VOW […]
Today TaxMama® hears from Nico out in the world, with this tough situation. “Have you ever had a client who never received a W-2 because the company went belly up? I know it is illegal to use the last year’s W-2 to prepare the return. What do you suggest I do?” Dear Nico, You bet […]
People, hearing the word tax, sometimes turn around and walk away from me. Just the idea of taxes frightens them so! It is a daunting subject. Especially when you are having problems with the tax system, yourself. (In fact, at my very first television interview on Good Day L.A., the host, Mario Machado, did exactly […]
Today TaxMama® hears from Insha in the TaxQuips Forum with this question. “I run a daycare center in my home. I file a Schedule C on the cash basis. In February 2011, I bought an asset for my business that cost $2,000. I’m making payments of $100 per month on it. So, on my 2011 […]
Dear Family, This is SuperBowl Weekend. The world will come to halt while sports fans eat, watch, and cheer for their favorite teams. This event is one of the highest grossing events for advertising revenue – while the show’s sponsors try to outdo each other with the best SuperBowl ads. They are such works of […]
Courtesy of the IRS. For more information, see the Special Identity Theft Enforcement Efforts – 2012 page. See related article about IP PIN at MarketWatch.com this weekend. WASHINGTON – The Internal Revenue Service and the Justice Department today announced the results of a massive national sweep cracking down on suspected identity theft perpetrators as part […]
Paychex, Inc., one of the nation’s leading providers of payroll, human resource, and employee benefits solutions for small and medium-sized businesses, today released its top 12 in ’12 list, containing the top 12 potential regulatory changes that America’s small businesses need to know about in 2012. Paychex works closely with the IRS and other government […]
Today TaxMama® hears from Elisa in the TaxQuips Forum with this question. “I purchased a home in 2009 getting a first-time homebuyers credit. I lived in it for 1 year. I moved to be closer to work and am renting an apartment. I have been renting my house out since July 2010. How will me […]