Tag Archives: TaxMama

Stakeholder Meeting Topics covered – Collections, Tax Assistance Counter, ITINs and more

Report from IRS Stakeholder Meeting – Los Angeles, June 28, 2012   Stakeholder Meeting Topics covered – Collections, Tax Assistance Counter, ITINs and more

Clarification of the Voluntary Classification Settlement Program for Employers

Clarification of the Voluntary Classification Settlement Program for employers (Form 8952) IRS introduced this last year, and I explored how this could affect employers, and whether or not this is a good idea – or an audit trap. [See MarketWatch article.] The VCSP is for business employers , governments and exempt organizations, who have been […]

Understanding Numbers

Useful English System conversions/units:    1. Ratio of an igloo’s circumference to its diameter = Eskimo Pi       2. 2.4 statute miles of intravenous surgical tubing at Yale University Hospital = 1 I.V. League

Sold Family Home

Today TaxMama® hears from Madeline in the TaxQuips Forum with this situation. “My siblings and I just sold our family home in New Hampshire. I live in California. We each got $40,000.00. How will this affect my taxes next year?” 

Property Tax Surprise

Today TaxMama® hears from Tony in the TaxQuips Forum with an odd problem. (Here’s the short version – read the long version on the site.) “He just got a notice that his home is about to be sold because the property taxes haven’t been paid on it. He’s never gotten the invoices – they have […]

Rental Under Water

Today TaxMama® hears from Chris in the TaxQuips Forum with a good question. “In the near future I plan to purchase a 2nd home in a different city, and move my primary residence to that property. I will rent my current home. The mortgage for my current property is underwater. The rent I can charge […]

IRS Notice is Partially Correct

Today TaxMama® hears from Melody in the TaxQuips Forum with an IRS notice. “If we agree partially to the CP 2000 proposed changes, how should we include any payment? The IRS proposed amount is terribly wrong. We want to pay an adequate amount to cover the adjustment. Is there a calculator for this type of […]

Ask TaxMama Issue 647 – Happy Summer

Dear Family,  Happy Summer! Yes, despite the fact that many of us in sunny climes start to celebrate summer on Memorial Day weekend, the planet didn’t recognize summer until this week.   Finally, this weekend, my mother’s 90th birthday party! I saw the album the girls put together. Lots of wonderful pictures! Lots. But, I think […]

IRS – Issue Management Resolution System – Turning Issues into Answers

Courtesy of the Internal Revenue Service [TaxMama Note: This is an opportunity for you to see some of the ways IRS responds to requests to fix or improve things. I say, just some of the ways, because I know of many more fixes IRS has implemented in the last several months. As, they say, it […]

Prepare for Hurricanes, Disasters by Safeguarding Tax Records

Courtesy of the Internal Revenue Service IRS YouTube Videos Preparing for Disasters: English | Spanish | ASL How to Request a Copy of Your Tax Return: English | Spanish | ASL Podcast  –  Disaster Assistance: English | Spanish WASHINGTON — With the early start of this year’s hurricane season, the Internal Revenue Service encourages individuals […]

Assess First, Shoot Later

Green Garden Grass snakes can be dangerous. Yes, grass snakes — not rattlesnakes. A couple in Sweetwater, Texas had a lot of potted plants, and during a recent cold spell, the wife was bringing a lot of them indoors to protect them from a possible freeze. It turned out that a little green garden grass […]

Income Not Reported

Today TaxMama® hears from Ninja in the TaxQuips Forum who got an IRS notice. Since her problem is universal, let me generalize her situation.  “This is the time of year IRS starts sending out the CP2000 notices. These letters are computer-generated. The IRS computer compares your income to the information it has received from W-2s, […]