We have a winner! See the correct answer in the comments. Our next tax trivia question for the giveaway is: In 2010, a New York state appeals board disallowed more than $300,000 in deductions for medical expenses to a taxpayer/tax accountant who claimed that he required sex therapy although it was not prescribed by a…
Taxpayer asks: I am very confused. Your blog says that we will be getting back more money this year because of the payroll tax holiday. My withholding must be screwy because I am making less money. What is going on? taxgirl says: Okay, this is where tax laws can get really confusing. Yes, there is…
Living in the Prairie State just got a whole lot more expensive. Facing a gaping hole in the budget, Illinois lawmakers have scrambled to find a way to pay the bills. Their solution? A significant tax hike. The Senate and the House have approved tax increases across the board for the states. Personal income tax…
We have a winner! See the correct answer in the comments. Our next tax trivia question for the giveaway is: This year, Tax Day is officially on April 18 and not on April 15 due to a local holiday. Two part question to win (must get both): name the holiday and where it’s observed. The…
The IRS has some pretty tough privacy laws. If you’ve ever tried to order a tax transcript or ask a tax question, you know what I’m talking about. The IRS will not generally reveal third party information without the third party’s consent even when it affects the taxpayer. That privacy cap even extends to law…
With snowstorms bearing down on the east coast this week, it’s a good time to focus on disaster relief available to taxpayers. Certain tax law provisions may help you to recover from a disaster. This may take the form of additional time to file returns and pay taxes without interest and penalty. You may also…
There will not be a vote on health care reform (and related taxes) this week. Speaker of the House John Boehner (R-OH) has issued this statement: Good morning. The thoughts and prayers of the House and the nation are with Congresswoman Giffords and her family. We’re also praying for the families of Judge Roll and…
We have a winner! See the correct answer in the comments. Our next tax trivia question for the giveaway is: To be considered timely filed, your paper tax return must be postmarked by the due date or acknowledged by a private delivery service considered acceptable by the IRS. The IRS has designated three such private…
We have a winner! See the correct answer in the comments. Our next tax trivia question for the giveaway is: To pay for the Civil War, Congress (for the Union) passed new excise taxes in 1862 on a number of items. Which of the following did not receive a new or additional tax as part…
We have a winner! See the correct answer in the comments. Our next tax trivia question for the giveaway is: According to the IRS, what percentage of those taxpayers who itemized tax deductions for tax year 2008 claimed the home mortgage interest deduction? I’m looking for answer +/- a percentage point. The first correct answer…