From the category archives:

individual

Credit Card Reporting for Tax Purposes Debuts This Month

13 January 2012

Form W-2, check. Form 1099-Misc, check. Form 1098, check. Form 1099-K… wait, what? Yep, there’s a new form from the IRS out this year and one might be landing in your mailbox soon. The federal form 1099-K, Merchant Card and Third Party Network Payments, will debut early this year: forms 1099-K are due to merchants [...]

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Are You Ready for Government Prepared Tax Returns?

13 January 2012

“The income tax has made more liars out of the American people than golf has.” – Will Rogers But what if it were easier? And what if the IRS made it nearly impossible to lie? What then? Last year, IRS Commissioner Doug Shulman hinted that one way to reduce the potential for tax fraud was [...]

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Where The Heck Are My Tax Forms?

12 January 2012

Dear overeager taxpayers: As an employer and a tax professional, I am asking you in the nicest way possible: please be patient. I know you want to file your tax return already. Apparently you’re one of the lucky folks getting a refund this year. And I know you want your money. But give us some [...]

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IRS Offers Taxpayers ‘One More Chance!’

10 January 2012

My seven year old has a penchant for getting herself into trouble. She’s that kind of kid who pushes boundaries to see exactly how far she can get. Lucky for her, she also has a pretty quick wit and a couple of looks up her sleeve. When she gets into trouble, she peers up at [...]

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My Best Tax Advice Ever, Part II: Get Some Help

9 January 2012

Last week, I advised that my best tax advice ever was to open the mail from the IRS. I find that to be, for many taxpayers, the single hardest thing to do. Of course, opening the mail isn’t always enough. Generally, the notice or letter advises you to take some sort of action, whether that’s [...]

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IRS Kicks Off Tax Season, Announces Extra Time to File

6 January 2012

The IRS has announced that the 2012 tax season is officially open. Well, sort of. The IRS has opened its doors for the season but what you can do just yet is still limited: e-file and Free File returns won’t be accepted until January 17, 2012. Today, however, you can (and should) start getting your [...]

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My Best Tax Advice Ever, Part I: Open Your Mail

5 January 2012

A client contacted me this week with a tax problem. He sent over a big pile of correspondence that he had received from the IRS. On the front of one of the letters, it read in big letters: Last Date to Respond to this Letter: XXXX 2011. Um, it’s 2012. The client missed the deadline. [...]

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9 Things to Know About the Making Work Pay Credit and Payroll Tax Cuts

4 January 2012

My inbox continues to be chock full of questions about the Making Work Pay Credit for 2011. Taxpayers, it seems, are still confused about whether the credit was extended and how it relates to the payroll tax cuts. So let me see if I can set the record straight for you: The Making Work Pay [...]

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12 Days of Charitable Giving: Jon Bon Jovi Soul Kitchen

2 January 2012

Our twelfth and final charitable organization in the series is the Jon Bon Jovi Soul Kitchen, located at 207 Monmouth St. Red Bank, NJ 07701. I know what you’re thinking: the Philly girl is touting a restaurant in New Jersey? All joking and anti-Giants sentiment aside, I have a good reason and it’s not just [...]

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12 Days of Charitable Giving: Office of Letters and Light

1 January 2012

Our eleventh charitable organization is Office of Letters and Light. I’m guessing the name doesn’t ring a bell. But maybe these names will: NaNoWriMo (National Novel Writing Month) and Script Frenzy. NaNoWriMo and Script Frenzy are both projects of the Office of Letters and Light, a 501(c)3 nonprofit organization based in Oakland, California. NaNoWriMo, the [...]

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