Posts tagged as:

credit card

Tackling Those Confusing 1099 And W-2 Changes

27 January 2012

If tax documents arriving now are giving you the mailbox blues, here’s help.

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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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IRS Offers Relief for Credit Card Reporting Requirements

1 November 2011

Panicked about those new form 1099-K (Merchant Card and Third Party Network Payments) requirements? Take a breath. The IRS has already figured out that things aren’t going terribly smoothly and is, as a result, offering “special transitional relief” for taxpayers and service providers. Contrary to some internet rumors, this isn’t the same as a free [...]

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New Credit Card Reporting Requirement Worries Some Taxpayers

25 October 2011

And you thought bank fees were bad… There’s a new form on the block, Form 1099-K, Merchant Card and Third Party Network Payments, making its debut in a few months, just in time for the 2012 filing season. The form is the result of new compliance reporting requirements for certain credit card and third party [...]

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Putting Your Tax Bill on Your Credit Card: A Surprisingly Common Problem

30 March 2011

Guest post by Thursday Bram Not so very long ago, one of my friends forgot to pay taxes. It was his first year working for himself and he just didn’t really think about the quarterly estimated taxes he might owe. So, when April rolled around, he got a horrible surprise: almost $20,000 in due taxes. [...]

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IRS Reportedly Joins Investigation Into Florida GOP

21 April 2010

Ray Sansom is not having a good couple of years. After being elected Speaker of the Florida House in 2008, he was forced to take a temporary leave of absence from the position the following January after a scandal surfaced alleging that he had accepted a job in exchange for political favors. Just a few [...]

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Ask the taxgirl: Should I get married?

22 October 2009

Taxpayer asks: Last year, I moved in with my boyfriend at his condo. He lost his job so I paid most of the bills. I paid the mortgage direclty for most of the year. I also paid some of his credit card bills, the car payment and some of his child support paymnets so he [...]

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Ask the taxgirl: More on Interest

9 December 2008

Taxpayer asks: I had to put almost $100,000 worth of medical bills on credit cards. Three to be exact. Can the interest on these loans be deducted as medical expenses as I continue to pay the bills down over the next five years? Thank you, Taxgirl says: Sorry, no. As I pointed out on a [...]

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Ask the taxgirl: Credit Card Interest

5 December 2008

Taxpayer asks: Thank you for taking my question. I do not know who else to ask. This is the first year for me to file taxes and I do not see where to put the interest that I paid on my credit card. I live with my grandmother and she says I can take it [...]

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