It’s Fix the Tax Code Friday! It’s also Black Friday – for those of you who are outside of the US, it’s the traditional first day of shopping for the Christmas holidays, the day after Thanksgiving. It’s called Black Friday because it’s the day that retailers count on to turn the year in red (deficit)…
NCAA President Myles Brand has (finally) responded to the ongoing inquiry into the tax-exempt status of the organization in a 25-page letter posted on the organization’s web site. The response initially had an October deadline – I guess somebody forgot to tell the folks in Committee that it’s college football season. You can’t expect a…
IRS Commissioner Mark Everson has announced the appointments of Kevin Brown and Linda Stiff as deputy commissioners beginning December 1. Brown and Stiff replace outgoing deputy commissioners John Dalrymple and Mark Matthews. Brown was the Commissioner of the IRS Small Business and Self-Employed (SB/SE) Division. He will become Deputy Commissioner for Services and Enforcement, which…
Following up on my recent post about the NCAA, college sports and tax-exempt status, take a look at this tidbit in USA Today which reports college coach salaries. I’ll bet Jim Tressel thinks his approximately $500k advantage over Lloyd Carr is worth it following this weekend’s Ohio State-Michigan game… Of course, that begs the question,…
It’s Fix the Tax Code Friday! Casinos are headed to Pennsylvania and many other states this year as revenue raisers for state governments. Winnings are taxable. If you lose, you can only deduct to the extent of your winnings and only if you itemize. This week’s question: Should gambling losses be deductible? Should there be…
Word on the Street (Wall Street, that is) is that one of the items on the Dems’ new agenda will be to reverse the prior decision to outsource IRS Collections activities to private collection agencies. Democratic leaders have been among the most vociferous opponents to the change, which was to take effect in September 2006.
As if Tom Brady and Curt Schilling aren’t enough, Massachusetts has given some taxpayers yet another reason to be thankful: Patriots Day. The holiday, which honors the battles of Lexington and Concord during the Revolutionary Way is observed on the third Monday in April. Yeah, April. So you know what that means… Tax Day! The traditional Tax Day is…
As previously reported, the IRS appears to be on a fee raising binge… And they’ve struck again! According to the IRS, as of the first of the year (January 1, 2007) fees for installment agreements will increase as follows: The fee for new direct debit installment agreements, where payments are deducted directly from a taxpayer’s…
In addition to this being the time of the year when 501(c)(3) organizations come calling for charitable contributions of cash, it’s also the season for making donations of goods. Most commonly, that tends to be clothing and household items. I know from personal experience since I have three full bags of “gently worn” maternity and…
I know, I know. When people say things are new and improved, they usually aren’t. But this time, they’re wrong. I’ve rolled all of the good stuff that used to be at intaxicated.net into my new site here at taxgirl.com. I’ve spiffed up the site with a new logo (thanks to the fabulously talented Jay…