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fix the tax code friday

Fix the Tax Code Friday: Making Work Pay Credit

27 March 2009

It’s Fix the Tax Code Friday! Next week, the revised tax tables for the Making Work Pay Credit go into effect. Last year, after stimulus checks were mailed out, taxpayers overwhelmingly supported a second stimulus package. Now, taxpayers don’t seem so sure. With the second stimulus package in place, with money in the pockets of [...]

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Fix the Tax Code Friday: Personal Debt Cancellation

13 March 2009

It’s Fix the Tax Code Friday! This week, I’ve been fielding a number of questions about forms 1099-C (debt cancellation). Under the Mortgage Forgiveness Debt Relief Act of 2007, qualified taxpayers receive an an exclusion up to $2 million (or $1 million MFS) of debt forgiveness on a principal residence if a home has gone [...]

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Fix the Tax Code Friday: Severance Packages

6 March 2009

It’s Fix the Tax Code Friday! This week, unemployment news has been grim, to say the least. Total job losses over the last six months have increased to 3.3 million; that is the highest level of unemployment in the US in 25 years. As more and more people lose their jobs, the related “ask the [...]

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Fix the Tax Code Friday: Personal Interest Deduction

6 February 2009

It’s Fix the Tax Code Friday! Not too long ago, I answered an “ask the taxgirl” question about credit card interest on tax returns. It was surprising to hear that some folks still believed that personal interest was deductible – especially since it had been eliminated over 20 years ago. My fellow tax bloggers were [...]

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Fix the Tax Code Friday: Property tax abatement

19 December 2008

It’s Fix the Tax Code Friday! Earlier this week, the Philadelphia Inquirer ran an article about an issue that has been on the minds of many local taxpayers as the city prepares for major cuts in services: real estate tax abatement. Many municipalities – from major metropolitan areas like Philly and NYC to smaller towns [...]

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Fix the Tax Code Friday: Budgets and Earmarks

14 November 2008

It’s Fix the Tax Code Friday! This week, I’m focusing on taxes, budgets and earmarks. There has been some good discussion about whether Melissa Etheridge’s plan to boycott paying taxes in California in response to Proposition 8 is appropriate. So, I’ll take it a step further. Today’s Fix the Tax Code Friday question is: Should [...]

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Fix the Tax Code Friday: Should Age Matter?

7 November 2008

It’s Fix the Tax Code Friday! On many of the taxgirl.com threads about the possibility of a second economic stimulus package, there have been discussions about age – and whether a second package should benefit the young or old more. The undercurrent of age has also rippled through online discussions about child care credits, retirement [...]

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Fix the Tax Code Friday: Presidential Economic Plans

31 October 2008

It’s Fix the Tax Code Friday! We know what Joe the Plumber thinks about the economic plans as proposed by the candidates… But what do you think? Here’s your last chance before the elections to state your case for economic change. Today’s Fix the Tax Code Friday question is: If you could ask either candidate [...]

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Fix the Tax Code Friday: Mortgage Debt Cancellation

10 October 2008

Fix the Tax Code Friday is back! This is your chance to sound off about tax policy – and propose how you would fix the Tax Code if you were in charge… One of the heavily criticized pieces of the economic bailout package is the extension of the debt forgiveness exemptions for mortgage cancellations. Here’s [...]

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