Have a horrible tax filing story? Car break down blocks from the post office? Ran out of paper? Dog ate your return?Tell me your worst tax filing story and win some great taxgirl.com merchandise! Here are the rules: Your story must be 500 words or less. It’s your story, but if you enter the contest,…
There are a number of programs that offer preparation and/or help, depending on your circumstances. If you earn less than $39,000, for example, you can use one of the more than 12,000 IRS Volunteer Income Tax Assistance (VITA) sites. To find the site nearest you, call 1.800.829.1040. If you are over the age of 60, you can…
My daughters received their forms 1099-INT for their “Little Savers” accounts at our local bank last week. Since they are under the age of 16, we must report their income on our personal income tax returns (the infamous “Kiddie Tax”). The tax policy rationale is that wealthy parents should not be able to shift income to their…
The James Brown saga gets more and more interesting… James Brown’s partner, Ms. Hynie, has filed suit in court against the Estate of James Brown. Curiously, according to the media, Ms. Hynie is not simply claiming an elective share but rather that the will and trust are not valid "for a variety of reasons." I’ve…
Taxpayer asks:It’s February and I didn’t receive my W-2 (or 1099). What do I do?Taxgirl answers: You should receive your forms W-2 or 1099 by January 31. If you haven’t received your forms, you should first contact your employer (or the issuer). You might not have received the form because of an incomplete or bad…
Or so says Dick Solomon of NBC’s former “Third Rock” series. And then he had to go figure his taxes (as seen on YouTube)…
Or any other resident of a state where there is no sales tax. But the rest of you? Listen up. You have the option of claiming your local and state income tax or sales tax as deductions on your federal income tax return. Most folks automatically go for the income tax because it is easily figured. However,…
As posted before, you may have a day or so extra to file your taxes this year. The IRS confirmed that the tax deadline this year will be Tuesday, April 17, 2007, for all taxpayers. The extra time is because April 15 falls on a Sunday in 2007, and the following day is a holiday…
Are you a student who has just stumbled across my blog while searching for tax news? If so, consider getting some professional help (!) and then consider entering some contests to scare up some cash. Here are some to consider: The American College of Trust and Estate Counsel Mary Moers Wenig 2007 Student Writing Competition Mendes Hershman…
In light of President Bush’s plan to allow a standard deduction for all persons who pay for healthcare insurance (or receive insurance through an employer), today’s Fix the Tax Code Friday question is: Should itemized deductions be eliminated completely in favor of a standard deduction?