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taxgirl® - tax news, tax info and tax policy

June 20th, 2008

Ask the taxgirl: Rebates and Missing Child Credits

Taxpayer asks:
I am a single mom with 2 children. I only received a total of $300.00 for my stimulus check. Why? And what do I do?
Taxgirl says:
It sounds like you might be a victim of an IRS error. The IRS claims that the error has since been fixed and that they will send out […]

By Kelly -- 0 comments

June 20th, 2008

Ask the taxgirl: Rebates and Foreign Jobs

Taxpayer asks:
I am a US Citizen, living in Canada but commuting to the U.S. to work.
I filed a 1040 for 2007. I’ve read that I am eligible for the Tax Rebate, however, I have not received either notification letter. In addition, according to the last 2 digits of my SS# my check should’ve […]

By Kelly -- 0 comments

June 20th, 2008

Ask the taxgirl: Student Loans

Taxpayer asks:
I had to file bankruptcy in 2005 due to medical reasons. I have student loans that need to be repaid however I cannot get a job due to my medical condition and now the irs is keeping every penny that I should get back in order to settle my student loans. Is there any […]

By Kelly -- 0 comments

June 20th, 2008

Ask the taxgirl: 17 Year Olds and Tax Rebates

Taxpayer asks:
My daughter turned 17 on Christmas Day. Can we get the extra rebate for her?
Taxgirl says:
Sorry, no. To claim the child credit for the rebate, your child must be under the age of 17 as of the end of the tax year (December 31).
But what a cool birth date!
Like any good lawyer, […]

By Kelly -- 0 comments

June 20th, 2008

Ask the taxgirl: 2007 Liabilities and Rebate Checks

Taxpayer asks:
We owed taxes for 2007 when we filed. We also had owed taxes from a few years ago. I was under the impression that the IRS would deduct the amount of taxes owed for any prior year(s) from the stimulus payment, but would not affect the 2007 taxes. We just received […]

By Kelly -- 0 comments

June 20th, 2008

Ask the taxgirl: Sales Tax on Cars

Taxpayer asks:
Hi Tax Girl!
Maybe you will find this interesting..
Just bought a car off of ebay motors. The car is in a different
state. The person I am purchasing the car from does not have a
physical presence in my state of any kind. And the entire transaction
has been completed over the internet. (i.e. […]

By Kelly -- 1 comment

June 20th, 2008

Ask the taxgirl: Blackberry Use

Taxpayer asks:
With employees using their Blackberrys for email and phone service where it’s a mix between personal and business usage, what’s a reasonable approach when deciding how much can be taken as a deductible business expense?
Taxgirl says:
I think the same rules apply here as with cell phones. Check my prior post on the subject.
Like […]

By Kelly -- 0 comments

June 20th, 2008

Ask the taxgirl: Reinvested Dividends

Taxpayer asks:
I don’t understand. I have my stocks on a program that reinvests the dividends back into the stock. My broker says that this increases my bases. But my CPA says that I have to report this on my taxes. Why is this if I haven’t sold the stock?
Taxgirl says:
Dividend Reinvestment […]

By Kelly -- 0 comments

May 12th, 2008

Ask the taxgirl: Paying someone else’s health care expenses

Taxpayer asks:
Hi TaxGirl. I’ve searched all over the Internet and the IRS.gov website and I can’t find an answer to my question, so I’m hoping you can answer it:
My sisters don’t currently have healthcare insurance, so my mom is helping them with some of their healthcare bills and expenses. My understanding is that […]

By Kelly -- 6 comments

May 5th, 2008

Ask the taxgirl: Outstanding Loans and Rebates

Taxpayer asks:
Heeello! I was wondering if it is true that my stimulus payment could be taken for outstanding hospital bills I have yet to pay? If so, “How will that help boost the economy?”
Thanks for your time…
Taxgirl says:
The short answer is no. Rebates are being withheld or reduced for federal obligations such […]

By Kelly -- 0 comments

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