Citing statistics that nearly 34% of Americans are obese, more than double the percentage 30 years ago, the Obama administration has introduced plans to implement a fat tax. The proposed tax, which has already caused controversy, is expected to raise more than $21 billion in its first year alone. Here’s how it would work: the…
Remember the Jinwrights? I blogged last year that the popular pastors had been indicted on tax evasion charges. Their trial is now slated to begin but not without some unusual maneuverings. The prosecution hoped to have the Jinwrights thrown in jail just before their April 6 trial due to violation of the terms of their…
The controversial “bag tax” in Washington DC appears to be paying off. The DC Office of Tax and Revenue says that the tax has generated about $150,000 in the month of January alone – money that will be directed to the newly created Anacostia River Clean Up Fund. That may be all fine and good…
In a bad economy, we all tend to look at our bills a little more closely. That effort is paying off for property owners in Orange County, NC, where 6 in 10 property owners have successfully challenged property assessments. Orange County, NC, is near my old stomping grounds in Wake County, NC, and is probably…
We had our random draw for the iPod Touch this morning. The winner, as determined by a random number generator, was Ger! Thanks to all who played along! And thanks to H&R Block for donating the prize for the giveaway. Stayed tuned for more great contests coming up…
Taxpayer asks: My mom and I have a joint IRA. She is 73 years old and I am 45 years old. How do we figure out how much of it is taxable to each of us? Taxgirl says: Er, um. You can’t. There isn’t any such thing as a joint IRA. I think you need…
Taxpayer asks: Last year, I cashed in my IRA to pay off some doctor bills. I lost my job and couldn’t pay but I did have my IRA so I used that to pay. I used the whole thing. Last month, I got a 1099 that says that it is all taxable. Please help because…
It’s that time of year again… The one when the crazies come out and try to steal your personal information or infect your computer or some other such nonsense by sending fake e-mails purporting to be from the IRS. There are a bunch of these e-mails floating around right now. The most recent ones have…
Despite having a banner year with the release of his triple album set last year, the singer possibly known as Prince has been reported as behind on a number of taxes in his home state of Minnesota. Carver County (southwest of Minneapolis) tax records show that the singer’s music company owes more than $227,000 for…
The Internal Revenue Service has announced that IRS offices will be open nationwide on Saturday, March 27 from 9 a.m. to 2 p.m., local time, to help taxpayers. You can find your local office here. “We are holding these special open houses to give taxpayers who are struggling in these difficult economic times more opportunity…