Real tax questions from real readers, answered. Got a question of your own? This is where Taxgirl answers them.
Taxpayer asks: Why did you become a tax attorney? Taxgirl says: Wow, this is not a short answer – but hey, it’s late/early – it’s the Blog Off and I have time. When I went to law school, I vowed never to take tax. It just felt boring. But then I had a horrible Moot…
Taxpayer asks: I don’t understand. I have my stocks on a program that reinvests the dividends back into the stock. My broker says that this increases my bases. But my CPA says that I have to report this on my taxes. Why is this if I haven’t sold the stock? Taxgirl says: Dividend Reinvestment Programs…
For the Great Blog Off, I will be hosting an “Ask the taxgirl” marathon! I have plenty of questions in my inbox already – but if you have a question, feel free toask the taxgirl! I’m hoping to answer 24 questions (wow) in support of the Great Blog Off. So, bring it on!
Taxpayer asks: I thought the Postal Service’s “forever stamp” was a great idea. I stocked up on forever stamps at 41 cents each right before the new postage rate went up to 42 cents. Now I have a dilemma. Since these forever stamps with a basis of 41 cents are now worth 42 cents when…
Taxpayer asks: The 1099-INT instructions state, payers of interest of $10 or more are required to furnish you and the IRS with this tax information. The IRS is notified of all interest paid by financial institutions on magnetic media, but financial institutions only report interest of $10 or more. I have seen some sites state,…
Taxpayer asks:This is my situation. In 2007, I sold a bunch of stock my grandpa gave me, and had a gain of roughly $8,000. I had my regular income at around $50,000, and $6,583 was withheld. I did not make any estimated tax payments throughout the year. I owed $1,271 in taxes. My question is:1….
Taxpayer asks: I PAY MY XWIFE SUPPORT CAN I CLAIM THAT MONEY ON MY TAXES? Taxgirl says: This is another one of those questions for which I have received a bunch of variations on a theme. It’s not just high profile divorcees like Britney Spears and Kevin Federline, pictured above, who have to deal with…
Taxpayer asks: Hi TaxGirl. I’ve searched all over the Internet and the IRS.gov website and I can’t find an answer to my question, so I’m hoping you can answer it: My sisters don’t currently have healthcare insurance, so my mom is helping them with some of their healthcare bills and expenses. My understanding is that…
Taxpayer asks: Hi Kelly! I just received my tax rebate, but it was for $600 and I am a single mom so I though it would be $900. I was just wondering how I go about figuring out which amount is correct. Will I receive the $300 later for my son? You are the only…
Taxpayer asks: Heeello! I was wondering if it is true that my stimulus payment could be taken for outstanding hospital bills I have yet to pay? If so, “How will that help boost the economy?” Thanks for your time… Taxgirl says: The short answer is no. Rebates are being withheld or reduced for federal obligations…