Today TaxMama hears from Linda in the TaxQuips Forum who wants to know. “How do I prove to the IRS that we can now net gambling losses against gambling winnings, per day, per gambling establishment, instead of deducting these losses on Sch A?
Today TaxMama hears from David in the TaxQuips Forum with this question. “My mother has owned rental property for many years and she has a tenant in one side of a duplex that has been there about fifteen years. My mother has always been reluctant to raise the rent on “good” tenants so this […]
Today TaxMama hears from Wyetta in the TaxQuips Forum with this problem. “I tried to make a payment arrangement with the IRS for 2010 taxes owed. The IRS told me that I have to file for 2006, before they could offer a payment arrangement. Please instruct me on how to handle this situation – how […]
Today TaxMama hears from Todd in the TaxQuips Forum who is unsure. “I have a client who is a U.S. citizen, but has Canadian income. He is a software developer, living in Boulder, Colorado, with Canadian clients. Does he need to file a Canadian return in addition to a US return, or is there some […]
Today TaxMama hears from H A in the TaxQuips Forum who is very nervous. (Let me paraphrase the question.) “Her tax preparer made significant errors in her 2010 tax return. She didn’t get to see it before he efiled it. Now, she wants to know if she’s going to get audited and what other trouble […]
Today TaxMama hears from Kandi in the TaxQuips Forum with a personal opportunity. (Let me paraphrase the question.) “A friend wants to loan me money from his IRA, but is afraid of having to pay all the taxes when he draws the money out. Is there a way to do this and avoid the taxes?”
Today TaxMama hears from Kathy in the TaxQuips Forum with an interesting question. “I thought I read somewhere that I could specify to which year’s taxes I want to apply my payments. For example, if I owe taxes from 1996 through 1999 and then from 2006, I can apply my payments to the taxes due for […]
Today TaxMama hears from Judy in the TaxQuips Forum who needs help. “I am struggling to maintain my household, have four years of back taxes to file and settle and my home was just foreclosed on. I was contacted by someone claiming that they can help negotiate a reduction in tax liability and stop any […]
Today TaxMama hears from MR in the TaxQuips Forum with a stupid problem. “In the course of a personal audit, IRS made a routine request for an employer letter to verify that his education is not a minimum requirement of the job. MR’s boss at TSA is afraid to write the letter – and is […]
In ancient Israel , it came to pass that a trader by the name of Abraham Com did take unto himself a young wife by the name of Dot. And Dot Com was a comely woman, broad of shoulder and long of leg. Indeed, she was often called Amazon Dot Com. And she said unto […]
Today TaxMama hears from Barb in the TaxQuips Forum with a simple question. “The farmer is selling his farm, and everything on it, to his son for $1. The basis of the farm and the machinery is approx $100,000 and FMV approx $510,000. How do I file their Form 4797?
Today TaxMama hears from Nancy in the TaxQuips Forum with several questions. “I am to be married this year. I am going to file as married, filing separately (MFS). Can I claim my husband since he is disabled and collecting social security disability? Also I understand that I cannot mix the standard deduction and itemizing on […]