Tag Archives: Tax return

Ask TaxMama Issue 627 – Bubbling Over

 Dear Family,  Earlier today, IRS announced that electronic refunds are on target. People can expect to find them in your bank accounts within about 10 days. But, some refunds will be delayed. IRS is beefing up the fraud detection system. Returns with Earned Income Credits, American Opportunity Credits and other refundable credits will take a […]

Free Tax Help Available Nationwide

Courtesy of the IRS [TaxMama note: Read this in conjunction with today’s MarketWatch article – How to file your taxes for free WASHINGTON — Over 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations providing vital tax preparation […]

Direct Sellers Personal Use of Product

Today TaxMama® hears from Bill in the Tax Quips Forum who raises a good question. “I have a lot of independent distributors asking about deducting their autoship of product for personal use. They say that their tax person said you can claim the deduction because you have to “be a product of the product” or […]

Taxpayers Advocate – 2011 Annual Report to Congress

WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the combination of the IRS’s expanding workload and declining resources as the most serious problem facing taxpayers. The result, the report says, is inadequate taxpayer service, erosion of taxpayer rights, and reduced tax compliance. The Advocate expressed her continuing […]

Old Ohio Taxes

Today TaxMama hears from Jimmy in the TaxQuips Forum with a distressing problem. “I received a notice from the State of Ohio Tax Bureau that I owe a large sum of taxes for 2004 and 2005. My taxes are taken directly out of my paycheck by my employer and I know that I paid my […]

Hiring Grandma

Today TaxMama hears from Jason in the TaxQuips Forum who wants to get it right. Let me summarize his issue – and you can read the details, here. He has hired Grandma to provide child-care in his home. He’s pretty sure that he is not required to treat her as an employee, according to various […]

Information for U.S. Citizens or Dual Citizens Residing Outside the U.S.

FS-2011-13, December 2011 The IRS is aware that some taxpayers who are dual citizens of the United States and a foreign country may have failed to timely file United States federal income tax returns or Reports of Foreign Bank and Financial Accounts (FBARs), despite being required to do so.  Some of those taxpayers are now […]

Back Taxes and Child Support

Today TaxMama hears from Krissy in the TaxQuips Forum who needs help. “I am married with two children, low income and my husband owes back child support. Last year I filed separately and ended up owing taxes. I had to set up a payment plan with the IRS to pay it off. I’d like to […]

Hiring Your Children

Today TaxMama hears from Ann in the Tax Quips Forum, with a reasonable question. “A woman pays her 13 & 15 year-old children to do office copying, collating, help distribute flyers, and help put on story plays for their author parent. If she were to hire an outside service, she would pay considerably more money […]

IRS Urges Tax Professionals to Prepare Now for New e-File Rules

[TaxMama Note: This is wise advice, my friends. The time has come, the Walrus said…to get with the program. If you plan to prepare tax returns next year, and get paid to do so, you must be filing electronically, now.  It may be hardship for folks who have been preparing tax returns manually, or who […]

Tax Extension Reminder – Things Not to Overlook

Courtesy of the IRS Don’t Overlook Special Individual and Small Business Tax Benefits; Choose e-file, e-pay  [TaxMama Note: Be careful. If you have disclosure statements that you want to go to IRS with your tax return, make sure your tax software company is transmitting those pages or forms.  If you cannot reach them in time, […]