Posts tagged as:

1040

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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Perry Wants You to Know that Romney is Rich: Do You Care?

27 October 2011

Let’s say that you have a shot at your dream job. You’ve done your homework, you’ve put in the hours, you’ve managed to get through the interview. There’s just one more thing: your tax return. Your potential employer has asked to you to disclose your tax return with the understanding that the information on the [...]

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Taxes from A to Z: P is for Presidential Election Fund

18 March 2011

Admit it, you’ve stared at that checkbox for the presidential election fund and you have no idea what it really means… It’s one of the great mysteries of the form 1040. First of all, you have to understand that the checkbox has nothing to do with your actual tax calculation. If you check “you” or [...]

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Ask the taxgirl: Reporting Alimony Received

21 November 2010

Taxpayer asks: Dear Taxgirl: Do I have to file if I receive Alimony less than 8000 a year? and that is all I made? taxgirl says: The first part of your question is easy: you report alimony received on your federal income tax return no matter what the amount. There is no reporting threshold. The [...]

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IRS Cans Automatic Mailing of Tax Forms

4 October 2010

The IRS has announced that it will no longer mail tax forms to taxpayers. Beginning this week, taxpayers who have previously filed a paper form (about 8% of filers) will receive a postcard with instructions on how they can get paper forms if they need them for the 2010 tax year. Of course, the irony [...]

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Making Sense of the Making Work Pay Credit

2 February 2010

So now that you’ve calculated the Making Work Pay Credit, what does it all mean? A credit is a dollar for dollar reduction in your tax bill. So if you owed $1000 and the credit was $400, your tax bill is now $600. The tax rates didn’t change. The tax due didn’t change. The credit [...]

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White House Releases Tax Returns

16 April 2009

No extensions necessary for President Obama and Vice President Biden. Both have their tax returns for 2008. Here’s the scoop: President Obama and his wife reported $2.7 million in 2008, about $1.5 million less than they reported in 2007 (I guess the recession has hit everyone). A majority of their income came from royalties from [...]

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Ask the taxgirl: Caught Cheating Red Handed

8 April 2009

Taxpayer asks: I have been cheating on my taxes for a number of years and I never got caught. This year I got a letter from the IRS that they are denying a bunch of my deductions unless I can prove that there real. I can’t. I’m worried because I have done this for longer [...]

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Ask the taxgirl: My Paycheck is Wrong

26 March 2009

Taxpayer asks: I had been working for a company for a short time, it has now ended.. This is what happen… I worked 18 hours at 11$ an hr, but was paid for 42 hrs. They are requesting that I pay back 229.35 How do I go about with my tax information? Is there some [...]

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Ask the taxgirl: Late returns

19 March 2009

Taxpayer asks: Hi, I’m very disorganized and still haven’t filed my 2007 taxes (as of March 2009!). I’m planning to file in April 2009. Of course, I did not receive an Economic Stimulus Payment in 2008. I’m single, and I definitely have taxable income and will owe taxes. Will I be eligible for the Recovery [...]

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