Today TaxMama hears from Jason in the TaxQuips Forum who wants to get it right. Let me summarize his issue – and you can read the details, here. He has hired Grandma to provide child-care in his home. He’s pretty sure that he is not required to treat her as an employee, according to various […]
Tag Archives: USD
Today TaxMama hears from Cindy in the TaxQuips Forum with some great news. “I have recently been approved for disability through Social Security. I will receive a lump sum (retroactive back to the date I became disabled) as well as start receiving a monthly check. Is the lump sum taxable, and if so, at […]
It’s birthday time. You see the greeting to Dame Judi Dench – easily one of my all-time favorite actors. But it’s also Lulu’s birthday, and David’s and Barbara’s and Harlan’s and Tony and Tracy and Alicia and lots of other great people this first half of December. So happy birthday to you all! Sometime […]
IRS Seeks to Return $153 Million in Undelivered Checks to Taxpayers; Recommends e-file, Direct Deposit to Avoid Future Delivery Problems WASHINGTON — In an annual reminder to taxpayers, the Internal Revenue Service announced today that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks […]
FS-2011-13, December 2011 The IRS is aware that some taxpayers who are dual citizens of the United States and a foreign country may have failed to timely file United States federal income tax returns or Reports of Foreign Bank and Financial Accounts (FBARs), despite being required to do so. Some of those taxpayers are now […]
Today TaxMama hears from RW in the TaxQuips Forum who is concerned about the new 1099-K reporting. “I am faced with either closing my e-commerce accounts or getting a tax ID number. I have no problem getting the number and making my business legitimate. But will this send up a red flag to the IRS […]
HR 674 was passed by the House this week and sent to President Obama for signature. The AICPA is happy with this law. In a press release, Edward Karl, vice president of taxation for the American Institute of Certified Public Accountants said, “The AICPA commends Congress for recognizing that it makes sense to repeal the […]
Way back in the beginning, when the commercial Internet opened up, working mothers found that it was a great place to interact and share information. A variety of sites sprang up, help out, and fizzled out. Some survived. Today, let me introduce you to the launch of a Work at Home Mom site that will […]
Today TaxMama hears from Debra in the TaxQuips Forum who wants to know. “How can I sell my rental home without paying taxes on the profit?” (Actually, the question is much longer. You can read the details, here.)
Dear Family, This week, we are working on the first review class for the new Registered Tax Return Preparer examination. When I scheduled the class for November, my intention was to take the exam myself, before teaching the course. After all, the IRS announced the new exam would be available by the middle of October. […]
Today TaxMama hears from John in the TaxQuips Forum with a sweet question. “We are re-financing a loan on a 2 flat. Our daughter, who lives in one unit, will be the primary borrower on the loan; my wife and I will be co-borrowers. My wife and I will be making the entire mortgage payment. May […]
Today TaxMama hears from Tom in the TaxQuips Forum with an interesting problem. “I have a $270,000 mortgage on my primary home. It is a 30-year loan at 5 3/8% fixed. My home is worth substantially more. Should I refinance at today’s rates? I could pay off the loan, but that would drain our […]