Today TaxMama wants to ask you. “What is your most terrifying tax tale? What is the worst thing that IRS or your state tax agency ever did to you? Or the most embarrassing thing? Did your ex-spouse or ex-lover get you in trouble? Or did your tax professional mess up big time?” Please tell us […]
Tag Archives: tax tips
WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. In general, many of the pension plan limitations will change for 2012 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other […]
WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation.buy premarin online mannadew.co.uk/wp-content/languages/new/uk/premarin.html […]
Let’s see how the U.S. Budget stacks up to a household budget, shall we? In order to compare apples to apples, we are using the numbers based on the same fiscal year – 2009, since that is the most current set of numbers available from the IRS. We will show you how the U.S. budget […]
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 […]
Today TaxMama hears from Bret in the Tax Quips Forum, with an IRS rejection letter. To make a long story short – “IRS rejected his Lifetime Learning Credit for 2009 because the Form 1098-T showed –0- in box 1. And because his employer paid the expense – even though he paid taxes on the education […]
Today TaxMama hears from Karen in the Tax Quips Forum, with a complex problem. “Her client owns three homes: A primary home, a vacation home and a home for Mom. They bought the vacation home with a mortgage. After paying cash for their residence, they refinanced it buy Mom’s home. The question is – can […]
Free phone forums featuring IRS employees discussing retirement plan topics. Upcoming Phone Forums Determination Letter Issues Regarding Employee Stock Ownership Plans – October 28, 2011 The presentation will cover topics such as technical issues affecting ESOPs and recurring issues noted in ESOP determination letter submissions. Presenters are Don Kieffer and Rick Parker in the […]
[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 […]
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, […]