Do you qualify for a refund of the telephone excise tax but aren’t required to file an annual tax return? It may be even easier for you to get a refund. The IRS has developed an even shorter form, the 1040EZ-T (try saying that quickly three times in a row) that you might be able…
Stretching his fifteen minutes even further, Richard Hatch of CBS’ Survivor went before a federal appeals court to argue against his conviction on tax evasion charges. Hatch was convicted of failing to pay taxes when he took home the $1 million prize on Survivor. He was sentenced to more than four years in prison. Defense lawyer…
Most individual taxpayers are on a calendar year for tax purposes – and that just wrapped up on December 31, 2006. Business taxpayers, however, may elect to choose their own tax year if there is a business purpose for the election. So, today’s Fix the Tax Code Friday question is: Should individual taxpayers be allowed…
According to blogger Michael Horne at www.milwaukeeworld.com, Major League Baseball pitcher and Hall of Famer Rollie Fingers owes the state of Wisconsin $1,433,609 in income taxes. That number makes him the seventh biggest tax delinquent in the state. You can see the entire list of delinquents at the Wisconsin Department of Revenue’s website. Fingers played…
Taxpayer asks: I stumbled here by mistake but am glad I did. I’m a first time home owner about to file his first 1040. I know I can legally claim my interest paid on my return but while reading about that, I also read that “real estate taxes” charged by the county can be deducted….
Here’s hoping that you and your family have a wonderful holiday! See you in the New Year!
It’s the post holiday season, which means post credit card season. A lot of folks would love to deduct the interest on personal credit cards on their own taxes. Years ago, you could: personal loan interest was completely deductible. That was eliminated in the late 1980s. Today’s Fix the Tax Code Friday question is: Should…
As it turns out, James Brown’s widow, Tomi Rae Hynie, may not really be his widow after all. Or maybe she is – apparently, the man that she married before she married Brown was a bigamist. If true, then her first marriage would not have been legal, making her marriage to Brown legal. If not…
Looking for ways to reduce your overall tax burden for the current year? If you’re a business owner with a calendar tax year, consider paying bills now before the new year. This includes the electric bill, phone bill, rent, health insurance and employee bonuses. Don’t forget about office supplies and small equipment that you might…
Yeah, it’s Christmas. The kids are in bed. I’m drinking a beer and gloating a little (okay, a lot) about the Philadelphia Eagles win over the Dallas Cowboys… And thinking of how I’m going to spend those holiday gift cards that I received (thanks, Mom, Dad, T, the Erbs and Chris!). And of course, I’m…