Some May Be Due Refunds IR-2007-198 Courtesy of the Internal Revenue Service WASHINGTON — Payments under the Department of Veterans Affairs (VA) Compensated Work Therapy (CWT) program are no longer taxable and disabled veterans who paid tax on these benefits in the past three years can now claim refunds, the Internal Revenue Service said today. […]
Tag Archives: Taxation in the United States
IRS Notice 08-01, recently released, discusses the treatments of various arrangements of health insurance in connection with an S Corporation and its 2% shareholder/employees. This Notice clarifies an issue from two years ago. First a review of law involving the health insurance deductions. Section 162(l) permits a self-employed person, a partner, and an S […]
FS-2007-26, November 2007 – Courtesy of the Internal Revenue Service While most people are aware they must include wages, salaries, interest, dividends, tips and commissions as income on their tax returns, many don’t realize that they must also report most other income, such as: cash earned from side jobs, barter exchanges of goods or services, […]
Courtesy of the Internal Revenue Service WASHINGTON – The Internal Revenue Service today issued the 2008 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2008, the standard mileage rates for the use of a car (including vans, pickups or […]
Today TaxMama hears from Lynnette in Brooklyn who wants to know, “If an employer pays mileage – is that for the use of the car? Or does it cover gas as well?”
Today TaxMama hears from Melanie in Minnesota, who’s upset. “I worked for this employer for 6 days. He did not take taxes from my check. I did sign a W-2 form to authorize it.buy sertraline generic rxbuyonlinewithoutprescriptionrx.net over the counter What can I do?” Dear Melanie, Hmmm…. OK, here are some choices for you: 1) […]
Today TaxMama hears from Linda in Denver, with this wonderful question, “Is it safe to assume that you will not be audited if you receive the refund that due you?” Dear Linda, What an interesting perspective? IRS sends you a refund. And there will never be an audit of that year.buy clomid online mannadew.co.uk/wp-content/languages/new/uk/clomid.html no […]
Today TaxMama hears from Anne in Minnesota, who wants to know, “Can an individual deduct charitable contributions and car donations on tax forms if unable to itemize deductions?” Dear Anne, You are giving away your age. Many, many years ago, in deepest, darkest memory, we used to be able to take charitable contributions deductions without […]
Tax Break Helps Low- and Moderate-Income Workers Save for Retirement IR-2007-187, Nov. 9, 2007 – Courtesy of the Internal Revenue Service WASHINGTON — Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2007 and the years ahead, according to the Internal Revenue Service. The saver’s […]
WASHINGTON — The Internal Revenue Service is looking for 115,478 taxpayers who are due refund checks worth about $110 million after the checks were returned as undeliverable. The refund checks, averaging about $953, can be claimed as soon as taxpayers update their addresses with the IRS. Some taxpayers have more than one check waiting. “Taxpayers […]
Today TaxMama hears from Peg in New Mexico, who tells us, “I am into my small business online for approximately $12,000 (began in Mar ‘07) and have no income from it as yet. Am I able to deduct my business expenses from my total income to arrive at a total adjusted income?buy clomiphene online pmilv.com/wp-content/languages/new/cheap/clomiphene.html […]
Today TaxMama hears from Michelle in Pennsylvania, who has this dilemma, “My husband was working and receiving $300 a week for 7 weeks. He was paid with a personal check. Do we claim that? Because his boss will not be claiming him, I was not sure.https://www.epsa-online.org/wp-content/languages/new/singulair.html Some people told me no; some people told me […]