For tax year 2006, the alternative minimum tax (the dreaded AMT) exemption rises to $62,500 for a married couple filing a joint return and to $42,500 for single persons and heads of household. Don’t get too excited, though, as those amounts are slated to drop in 2007.
Well, as determined by me, so they’re certainly subjective. But isn’t that why you read the blog to begin with? 10, My personal headlines slide in at #10: Taxgirl jumps to b5media, speaks at BlogHer and becomes Channel Editor of the Business Channel. Oh, and I found out that I’ll be writing a monthly column…
Taxpayer asks: there is a lot of talk that we the people will be getting another stimulus check. Is that true? Taxgirl says: I know that folks want the answer to this question to be different… I know this because I receive several variations on this question per day – including a recent email from…
If the IRS felt that the announcement that they were looking for ways to resolve the “cell phone tax” issue would allay the fears of taxpayers, they were wrong. In addition to a buzz on the blogosphere, traditional journalists are taking the IRS to task on the matter. Today, the Wall Street Journal lead its…
R&B artist R. Kelly took a huge hit to his finances this week when his 20,000 square foot dream home was auctioned for less than a million dollars. The home, which Kelly had built in 1997, was subject to a $3.5 million mortgage. R. Kelly, whose real name is Robert Sylvester Kelly, has been recognized…
(Updated May 21, 2020) Shortly after stimulus checks started going out, I began receiving inquiries from taxpayers who had received checks intended for deceased relatives. Some media outlets – and politicians – wanted to make a big deal out of this, suggesting that it was indicative of something wrong at the Internal Revenue Service (IRS)….
Over the past five weeks, 26.5 million Americans have filed initial claims for unemployment, according to the U.S. Department of Labor. That’s in addition to the 7.1 million unemployed Americans reported before most of the country shut down in response to the COVID-19 pandemic. On March 27, 2020, the President signed the “Coronavirus Aid, Relief, and…