Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains tax news, IRS updates, scams, financial crime, and money in plain English.
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Ask The Taxgirl: "Windfall Tax" On Retirement
Taxpayer asks: Is this true? Post this on taxgirl.com with an answer please. Windfall Tax on Retirement Income Adding a tax to your retirement is simply another way of saying to the American people, you’re so darn stupid that we’re going to keep doing this until we drain every cent from you. That’s what the…
Are Federal Taxes Driving Smokers To Stop Lighting Up?
Last week, a friend and I saw a group of Eagles fans walking down Main Street and were shocked to notice that every single one of them had a cigarette in hand. It was striking because I don’t see many smokers now. I’m not sure why that is. I can’t figure out if it’s because…
GOP Pledge To America: No New Taxes (Now Cue The Dancers)
Today, at a hardware store in Virginia, the GOP hopes to with their “Pledge for America.” I had hoped to upload it to the site but it’s a bit larger than my blogging software wanted to deal with: it’s an astounding 135 MB. If you want to check it out in its entirety, you’ll have…
Mnuchin Suggests Payroll Tax Deferral Will Be Discretionary
(Updated to add the letter from the Chamber.) Last week, President Trump took Presidential action to act on payroll tax collections. Specifically, he ordered that the employee’s share of Social Security taxes be deferred beginning September 1, 2020, through December 31, 2020, for workers earning up to $104,000 per year. While it has been touted…
Pelosi Confirms Tax Rebates ‘Unlikely’ Before New Year
In a move that should surprise very few, House Speaker Nancy Pelosi confirmed yesterday that Congress is “unlikely” to approve an economic stimulus package that included tax rebate checks during this calendar year. The Democrats are, however, still pressing for approval on their $61 billion “economic stimulus package” which includes relief for the jobless and…
Fix The Tax Code Friday: Nonprofit Organizations & Politicking
It’s Fix the Tax Code Friday! The IRS has become more aggressive during this election year about enforcing the prohibition against politicking by tax exempt organizations. To date, the IRS has made inquiries into charitable organizations who have supported or opposed candidates including Obama, Romney and Huckabee. Is this good policy – or is the…
