Taxpayer asks: A tax client was issued a 1099-MISC for rental income received in 2006. Box 1 of the form showed $1000 when the correct
Read MoreCategory: individual
Fix The Tax Code Friday: Mortgage Deduction
Bush’s tax plan has suggested severely limiting the mortgage deduction and eliminating deductions for interest on home-equity loans or mortgages for vacation homes. So today’s
Read MoreAsk The Taxgirl: Forms 1099
Taxpayer asks: I made $400 from my freelance work. Why didn’t I receive a form W-2? Does this mean that I don’t have to report
Read MoreSing A Song Of Sixpence, A Pocket Full Of Cash
As previously reported, the IRS will be watching Hollywood’s award season this year almost as much as we are… The Grammys are no different. The
Read MorePhone-y Requests
The IRS is finding that there are already problems with returns involving the telephone excise tax refund. The most common mistakes seem to involve the
Read MoreFix The Tax Code Friday: Kiddie Tax
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
Read MoreAsk The Taxgirl: No Tax Forms!
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
Read MoreHey Delaware, We Don’t Mean You…
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
Read MoreTime Flies
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
Read MoreFix The Tax Code Friday: Standard Deduction
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),
Read More