Today TaxMama hears from Angie in North Carolina. She tells us, “I have already filed my taxes. I had enough in medical bills to file, but didn’t realize until I had already filed. Gross income was $30,000 and my medical bills out of pocket were $2,400 (which is very unusual). Would be worth while to […]
Tag Archives: Internal Revenue Service
The Treasury Inspector General for Tax Administration (TIGTA) today publicly released its most recent review of the Internal Revenue Service’s (IRS) Earned Income Tax Credit Program (EITC). The report concludes that the IRS has successfully developed processes to identify erroneous EITC payments prior to their issuance to taxpayers. However, the IRS estimates that between $10 […]
IR-2009-10, Jan. 30, 2009 WASHINGTON –– In response to errors showing up on early tax filings, the Internal Revenue Service today urged taxpayers and tax preparers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns. Some individuals who did not get the economic stimulus […]
Today TaxMama hears from Jean in Glendale, CA.buy zoloft canada http://healthinschools.org/wp-content/languages/new/canada/zoloft.html no prescription She says, “I installed a photovoltaic solar system on our home last spring. We received an $11,000 “incentive” grant from the City. Now, the City has sent us a 1099-G. I thought solar installations were not taxable.”
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. […]
by David & Mary Mellem, EAs We all know gambling winnings are Other Income, while gambling losses are deductible on Schedule A but only up to the amount of winnings. Some tax professionals have interpreted the regulations to require each individual bet to stand on its own. Now IRS has addressed this issue a little […]
Today TaxMama hears from Mike in Texas with this question.buy cipro online pharmacohealthcare.com/wp-content/themes/twentysixteen/inc/engl/cipro.html no prescription https://www.seehowcan.com/wp-content/languages/new/professional-resume-writers-nyc.html “I use a DBA company to do some Internet marketing. I made $600 and I spent $2,100 in advertising and subscriptions. What all am I able to write off with my DBA and what form do I put it […]
Today TaxMama hears from Thomas in Ohio with this question. “I have been married four years.buy strattera online www.epsa-online.org/wp-content/languages/new/prescription/strattera.html no prescription My wife owned her own home before our marriage and we lived there for the last four years. I was never on that title. Now we purchased a home together to live in and […]
If you changed your home or business address, you’ll want to remember these six tips to ensure you receive any refunds or correspondence from the IRS. 1. You can change your address on file with the IRS in several ways: Correct the address legibly on the mailing label that comes with you tax package Write […]
Today TaxMama hears from VP in California who tells us.http://auneec.ateneo.edu/wp-includes/images/new/how-to-write-reflective-paper.html “I am VP of an S Corp. I do not draw a salary, but the president does.buy azithromycin online www.mabvi.org/wp-content/languages/new/usa/azithromycin.html no prescription Does the dollar amount of owner’s draw affect taxes in any way?”