When news broke that Facebook would allow specific user names for accounts and pages, I was thrilled – and a little worried. Despite the fact that my taxgirl moniker is trademarked, it hasn’t stopped folks from registering the name on a host of social media sites. What if, I thought, someone beat me to the…
Are you looking for a little extra cash this summer! The IRS recently issued a reminder about unclaimed refunds… does one belong to you? Earlier this year, the IRS announced that unclaimed refunds for 2005 (the last year for which you could claim a refund as of tax day, 2009) totaled approximately $1.3 billion –…
Despite widespread rumors that UBS might settle with the US government, there was no movement on the matter. The case, brought by the US government, focuses on the release of names of more than 50,000 US taxpayers who might have hidden assets in Switzerland for the purpose of evading tax. This time it is the…
If the news that US tax revenues have fallen was disturbing, then this may be even worse: China’s tax revenues are expected to grow by 10% in 2009. The increase comes on the heels of a successful 2008 year in China, where tax revenues climbed 18.8% to 5.42 trillion yuan ($792.68 billion). The “global crisis”…
The Internal Revenue Service (IRS) has issued some guidance on the “Consumer Assistance to Recycle and Save” (Cash for Clunkers program). President Obama signed the bill into law on June 24, 2009 (you can download the bill here as a pdf). It’s basically a vehicle trade-in and purchase program (leases for more than 5 years…
Taxpayer asks: Do you have any advice for how SELLERS should best take advantage of the credit? Should we advertise about the credit with our real estate listings? Taxgirl says: That’s a great question! I think the credit is a real selling point (though I’m not a fan of the concept). It definitely makes sense…
Taxpayer asks: I moved 3 years ago and am renting a house that I own. I’m not able to file single head of household because I don’t live in the only home I own. Would I qualify for the tax credit?Thanks Taxgirl says: As I understand your question, you are wondering if you would qualify…
Taxpayer asks: Hi Taxgirl, [I emailed you last week when we received the refund to our amended return for 2008 because we claimed the new homebuyers $8000 credit. I was perplexed that it was for $7978 instead of for $8000. The following info explains why, and continues my question.] We just received a letter from…
Taxpayer asks: Single taxpayer elgible for and takes advantage of $8000 first time homebuyer credit. Prior to 3 yrs ownership, taxpayer gets married and wishes to put new spouse name on deed. Does that disqualify and require repayment of the $8000? Taxgirl says: Nope. Eligibility for the first-time homebuyer credit is determined on the date…
I’ve received a number of “ask the taxgirl” questions related to the first time homebuyer’s credit. I’m hoping to wade through a number of those questions this week in consideration of the IRS’ new emphasis on preventing related fraud.Enjoy! Taxpayer asks: Dear Tax Girl,I’ve reviewed the information published by the IRS related to the new…