taxgirl® - tax news, tax info and tax policy

April 24th, 2008

Snipes Promises Appeal

After being sentenced to the maximum three years in federal prison for his convictions on tax evasion charges, Wesley Snipes vowed to appeal.
Interestingly, just before the sentence was announced, Snipes asked the court to show mercy and paid $5 million. His checks were cashed - to be applied towards the amount Snipes allegedly owes […]

By Kelly -- 8 comments

April 24th, 2008

The Case Against Snipes

If you’d like to read the entire argument made in favor of the maximum sentence, you can read the US Sentencing Memorandum here by downloading it as a pdf (it’s 37 pages!).
Tags: , IRS, Sentencing Memorandum, sentencing recommendations, tax evasion, Wesley-SnipesShare This

By Kelly -- 2 comments

April 24th, 2008

How Much Jail Time Per Dollar of Tax Fraud?

A reader asked what the “per day” sentencing would be in the Wesley Snipes tax trial… What a great question!
If the maximum sentence of three years was imposed for the alleged $2.7 million dollars that Wesley Snipes evaded in tax (according to prosecutors), that works out to one day served for every $2,465.75 in […]

By Kelly -- 6 comments

April 16th, 2008

Ask the taxgirl: Error on check

Taxpayer asks:
I was told to put 1040 and my SS# on the check, which I have done in a rush (yesterday). Today I see a small notice informing me to make check out to US Treasury RATHER than IRS. I’d like to think it’s no big deal. but - I’d like to believe in Santa […]

By Kelly -- 3 comments

April 15th, 2008

Looking for an extension?

Here’s the form for individuals: form 4868 as pdf
Tags: 1040, form 1040, form 4868, income-tax, IRS, taxShare This

By Kelly -- 0 comments

April 4th, 2008

Ask the taxgirl: Money Owed to IRS

Taxpayer asks:
Kelly,
I hope you can help with this one…
I have been contacted by the IRS that I didn’t file one year and the another year I didn’t file at all. They have sent me copies of my income and other information; the problem is that I don’t have any of my own paper work and […]

By Kelly -- 0 comments

April 1st, 2008

IRS Considers Tax Exempt Status for Bloggers

picApp_publisherId = 447;picApp_imageId = 11102;picApp_imageWidth = 357;picApp_imageHeight = 235;picApp_configUrl = “http://pis.picapp.com/IamProd/FlashSite/GetConfig.aspx”;picApp_Picview=”http://pis.picapp.com/IamProd/FlashSite/en/picviewerv1_1.swf”;picapp_numberOfLine=2;ImageServe();
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 […]

By Kelly -- 20 comments

March 30th, 2008

Why Didn’t IRS Just Buy Super Bowl Commercials?

As it turns out, the economic stimulus plan is costing us even more money than the $100 billion being mailed out “for free” to Americans.
At least $200 million more.
Here’s the scoop:
The letter that was mailed to you that advises that you might be eligible for a refund cost the IRS $42 million. That $42 […]

By Kelly -- 5 comments

March 29th, 2008

IRS is hip to your jive talk: Yep, they’ve gone YouTube

Apparently, the IRS is trying to relate to the current generation. No, they’re not texting you - yet. But they are on YouTube. Here, Linda Stiff (acting IRS Commish - no jokes about her name) talks about rebate checks - apparently Alan Thicke was unavailable:

(Hat Tip: TaxProf blog)
Tags: economic stimulus, IRS, rebate […]

By Kelly -- 4 comments

March 28th, 2008

Being Right Isn’t the Same as Not Getting Audited

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 […]

By Kelly -- 4 comments