Charitable organizations with annual gross receipts of $25,000 or less have just a few more days to get compliant under an important deadline extension from IRS. In July 2010, the IRS issued a statement (you can read the statement online here.) So really, what all of this means is this: The new deadline for filing…
Remember how “Survivor” winner Richard Hatch failed to report his game show winnings on his tax return and went to jail? Well apparently Adam Jasinski didn’t watch “Survivor”… Jasinksi, the winner of CBS’ “Big Brother 9” pleaded guilty today failing to file a tax return for 2008, the year that he won the $500,000 grand…
What’s worse than confusing legislation? Creepy companies that try to capitalize on it. Here’s what we just received in the mail today… On the outside, we’re notified that we’re holding a “SECURED DOCUMENT” which we must “Open Immediately – Time Sensitive Information Enclosed” for our “Economic Stimulus Package Recovery Act.” A picture of the White…
I read a lot of tax-related blogs over the course of the day. And I usually prefer to write something myself rather than rely on the words of other folks. But there’s no way I could have done justice to this discussion about the hyperbole race over the Bush tax cuts/hikes (depending on which side…
The IRS has announced that it will no longer mail tax forms to taxpayers. Beginning this week, taxpayers who have previously filed a paper form (about 8% of filers) will receive a postcard with instructions on how they can get paper forms if they need them for the 2010 tax year. Of course, the irony…
Taxpayer asks: Hi, Just wondering if I have multiple jobs one year, can I not declare taxes if what I earn from each individual job is less than $600, or does what I make from all the jobs added together have to be under $600? And what if its at the $600 mark; does it…
This week, Congress has been sparring over the best way to fix the economy. It looks like, one way or the other, we’re going to have some tax cuts. The specifics have yet to be worked out. Many are pushing for individual tax rate cuts while others believe that cutting corporate tax rates (something Speaker…
Last night, NewsHour’s Judy Woodruff spoke with House Speaker Nancy Pelosi (D-CA) about the upcoming elections and key issues affecting voters. Not surprisingly, tax cuts were at the forefront of the discussing. Speaker Pelosi indicated that she was amenable to considering cutting corporate tax rates: We’re all for putting everything on the table, talking about…
It turns out that the news about the SE tax break hasn’t garnered much press outside of the tax world. I’m fairly surprised by the lack of coverage considering the target market but my guess is that it has a lot to do with the fact that the break is only for one year. At…
New Jersey taxpayers bear one of the highest state and local tax burdens in the country, a fact that wasn’t lost on voters in the most recent gubernatorial election. Residents generally took some solace in the fact that they receive, on average, a significant amount of services from the government (including well-funded and high-performing public…