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We already knew that Chicago holds the distinction for the highest sales tax rate in the country… and apparently, it’s affected the population. Chicago also holds the top spot for tax filer procrastination. Who’s number 2? You’ll have to check out the list […]
Taxpayer asks:
Good Morning:
My wife was working for a local music school teaching lesson for only a couple of months last year. She was paid a total of $120.00 for 2007. The Music store has not sent us a 1099-MISC form. How do I declare this income on my 1040 form? Do I still have […]
Taxpayer asks:
Hi, can I report my 2007 1099MISC income with my 2008 tax return?
Taxgirl says:
I wouldn’t. The IRS will receive a copy of the 1099-MISC issued by the payer and will expect to see corresponding income on your return. When the information doesn’t match up, you will likely receive a notice from the […]
Taxpayer asks:
Hi taxgirl,
There is a woman at our church who recently lost her home in a storm. A few of us put our heads together and decided to take up a collection for her. We collected money, housewares, bedding, you name it. She lost almost everything that she owned so we started […]
Taxpayer asks:
Ok, here’s an extremely random real-life question:
How do you file a return on someone whose spouse died in 2007 and who remarried also in 2007? The deceased in question sold a piece of jointly-owned property, as well as having social security income, so he does need to file, but the spouse can’t exactly file […]
Taxpayer asks:
Hi Kelly!
I’m so glad to have found your site - what a great service for all of us! My question is in regards to the 1099-MISC form. I am a small business owner and received a 1099 form for a December 2007 sale however the company did not pay until January 2008. […]
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In a surprising move, the IRS has announced that it is considering exempting bloggers from paying income tax on money earned from blogging.
In its proposed regulations on the matter, the IRS pointed out that bloggers provide a valuable public service by making information available to […]
Lots of people like being right. But in the tax world, just like in other situations, being right isn’t always enough.
A good friend recently asked me to review his tax return before he submitted it to the IRS. I did and I noticed something that I didn’t love - a huge refund (and […]
Over the past ten years, the tax burden on wages has eased in most of the world’s industrial countries, according to the Organization for Economic Co-operation and Development (OECD). Those changes have benefited the lower and middle class, for the most part.
Only, there some exceptions. The OECD pointed fingers at a small group […]
Taxpayer asks:
I have 3 kids and this is my first year filing a 1099. Am I able to claim dependents on a 1099 misc and get a refund?
Taxgirl says:
There is a distinction between a form 1099 and a form 1040.
There are several different types of forms 1099 - you can read about many different […]
tax news, tax info and tax policy - and it’s not as boring as you think!
Written by Kelly Phillips Erb [email] for b5media.
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