Today TaxMama hears from Marty in NJ who’s perplexed. “I got a 1099-MISC from Ameriquest Multistate Settlement Administrator with income in box 3, other income. Is this taxable? The settlement resolves allegations that Ameriquest failed to adequately disclose home loan terms, whether loans carried fixed or adjustable rates, inflated appraisals, charged excessive loan origination fees […]
Tag Archives: Internal Revenue Service
Today TaxMama hears from June in California who asks. “My son-in-law suggested that I use income averaging to offset high income tax for 2007 resulting from circumstances beyond my control. Is that possible?”
If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be able to take a tax credit. The Savers Credit formally known as the Retirement Savings Contributions Credit applies to individuals with a filing status and income of: Single with income up to $26,000 Head of Household […]
IRS Explains How Manufacturers, Purchasers Can Take Advantage of Tax Credit for Fuel Cell Vehicles WASHINGTON — The Internal Revenue Service today issued a notice providing procedures for vehicle manufacturers to certify that a fuel cell vehicle meets the requirements for a tax credit. It also provides guidance to taxpayers who purchase certified vehicles regarding […]
Today TaxMama hears from Gene in Georgia who wants to know, “The Education related Credit is for Post-Secondary school, right?https://www.giveapint.org/wp-content/languages/new/prelone.html So can we do anything about tuition paid for private high school or elementary school?buy ventolin online www.calmandgentledentalcare.co.uk/wp-content/languages/new/uk/ventolin.html no prescription https://www.giveapint.org/wp-content/languages/new/grifulvin.html ” [See the Resource Box below for the live links] Dear Gene, You mean, […]
Courtesy of the Internal Revenue Service IR-2008-033 WASHINGTON —The Internal Revenue Service announced today that it has automated the user fee calculations for taxpayers entering into an installment agreement. Previously, taxpayers were required to submit a paper Form 13844 to request a reduced user fee. Now, eligibility for reduced fees is determined automatically by the […]
Your 1099 Should Have Been a W-2 Due to the widespread problem of employees getting 1099-MISCs from their employers instead of W-2s, the IRS created a new form in 2007 – the Form 8919. Using this form has saved employees thousands of dollars, while protecting their Social Security records and their tax status. Though it […]
Today TaxMama hears from Bill in California who says,“I am considering renting a home that I own to a relative. I recently read a snippet that stated ‘’…People who rent property to their family or friends can lose virtually all of their tax deductions.’’ Is this true? If so, under what circumstances would I lose […]
Today TaxMama hears from Dorothy in Texas who says, “My husband is employed by the railroad and we live in a fifth wheeler.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/azithromycin.html Our original home state was New Mexico. We now travel to railroad sites in Texas for employment.buy uk singulair online www.mabvi.org/wp-content/languages/new/uk/singulair.html no prescription We rarely go to NM. Our home is rented. […]
Today TaxMama hears from Trudy in New Jersey who wants to know, “In regards to the tax rebate. If you claim your parent as a dependent do you get a credit for them?buy furosemide online https://www.mobleymd.com/wp-content/languages/new/furosemide.html no prescription My husband and I have 3 children and also claim my mother on our taxes as a […]