Today TaxMama hears from Bill in the TaxQuips Forum, who is carrying a heavy load. “My wife and I pay almost $150k per year in Federal taxes and another almost $50k in state income taxes with most of it coming from W2 earnings. I’m really tired of paying this much money to those in government […]
Tag Archives: Taxation in the United States
Today TaxMama hears from Fred in the TaxQuips Forum, with this problem. “My ex-wife and I were legally divorced in Sept. 2008. For the tax year 2008, she filed as married, filing jointly. She withdrew her entire 401(k) fund and was penalized for early withdrawal. She now owes the IRS over $10,000. Because she filed […]
Today TaxMama hears from Michael in the TaxQuips Forum, with a brief question. “My wife and I are separated, although not legally. May I file a 2009 and 2010 tax return separately? Can it later be amended to jointly?”
Today TaxMama hears from Lucylle in the TaxQuips Forum, with this question. “We want to sell our vacation home in Maine and buy another. Will we have to pay capital gains tax on it even if we buy another of equal value?”
TIGTA Publicly Releases Report on IRS Customer Service WASHINGTON – The Internal Revenue Service (IRS) provides helpful and accurate tax law assistance, but taxpayers experience lengthy wait times to speak with assistors, according to a new report publicly released by the Treasury Inspector General for Tax Administration (TIGTA). The audit, a follow-up review to […]
Today TaxMama hears from Kelly in the TaxQuips Forum who is doing something unusual. “I tried to claim the adoption credit on this year’s taxes. It was denied because “I can not use this credit for the adoption of a step-child”. After my divorce was final, I began adoption proceedings for my son. They were […]
Courtesy of IRS [TaxMama note: this applies deaths that took place in 2010. Even if you don’t think your family has an estate – PAY ATTENTION!https://redemperorcbd.com/wp-content/languages/new/antabuse.html If you don’t file the paperwork to establish the value of home, stocks or other assets owned by the person who died, you may end up with a tax […]
Courtesy of the IRS The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Here are ten […]
Today TaxMama hears from Richard in the TaxQuips Forum who is generous to his son. “My Son retired from the Army and moved into a house that is on a small farm I inherited. He wanted to make improvements to the house and didn’t want to wait until we passed on to the happy “hunting ground” […]
Courtesy of IRS. [TaxMama note: Owing money can be really frightening. However, they generally do NOT put in you in jail. And IRS is trying hard to help you find ways to pay, without spending $3,000 or more for a professional tax debt negotiator. So, please, use the help offered.https://biuinternational.com/wp-content/languages/new/how-to-write-argument-essay.html ] While the majority of Americans […]
Courtesy of the IRS [TaxMama Note: payrolls and payroll tax deposits tend to case THE most problems for small businesses. Somtimes, outsourcing is your best option.] Employer’s Outsourcing Payroll Responsibilities Many employers outsource some of their payroll and related tax duties to third-party payroll service providers. They can help assure filing deadlines and deposit […]
Today TaxMama hears from Myra in the TaxQuips Forum with lots of questions. “I filed an extension. How should I file at year end? Single, married but filing at a single rate, or jointly. My husband receives Social Security disability. I file from a K-1. I have large amounts of deductions. I also can […]