Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
If you follow the blog regularly, you’ll know that I’m not a fan of the Earned Income Tax Credit (EITC). So maybe it wasn’t so much of a surprise to anyone that I managed to miss Earned Income Tax Credit Awareness Day at IRS. Yes, there is one. And yes, it was last week (January…
Taxpayer asks: Hi,I just got my taxes done and I don’t see paperwork for my homestead credit or working pay credit in my taxes. I looked at last years and all of it is in that one I called and left a message with the person who did my taxes but I should get working…
Taxpayer asks: I received workers comp most of the year, will I receive a 1099 for these earnings? taxgirl says: Amounts you receive as workers’ compensation for an occupational sickness or injury are not taxable if they are paid under a workers’ compensation act or a statute in the nature of a workers’ compensation act;…
Taxpayer asks: I forgot to include the Schedule M with my free e-file.Should I do an amended return or ?Thank you. Taxgirl says: Nope. There’s no need to amend because… there is no Schedule M for individual taxpayers for the 2011 tax year. The Schedule M was used to figure the Making Work Pay Credit…
Taxpayer asks: If my w2’s for the year are still at single but I am married can I file single or should I file married. Is it true that if my w2’s are at single they are pulling more money and if I file married I’m not getting back what I should?It never dawned on…
Everyone has a story about a tax return gone bad. And this is your chance to turn your bad tax move into a good one… Have a horrible tax filing story? Car break down blocks from the post office? Ran out of paper in the printer? Dog ate your return? Tell me your worst tax…
It’s cold and snowy out today in Philadelphia and across much of the country. It’s the kind of day where you really should stay inside and get things done… like maybe your taxes. The Internal Revenue Service (IRS) previously declared that the 2012 tax season has officially kicked off and this week, the IRS proclaimed…
There’s a reason that the stock market continues to make news: over half of Americans own individual stocks, mutual funds, or stocks in a 401(k) or IRA. According to a 2011 Gallup poll, 54% of Americans hold stocks in some form despite fears of a shaky market. While reasons for investing in the stock market…
So I’m going to let you in on a little secret: I don’t prepare my own tax returns. Completely true. It is how I stay married. You see, I used to prepare my own returns for my business and for my household. And I did just fine for a bit. But then I had three…
Dear overeager taxpayers: As an employer and a tax professional, I am asking you in the nicest way possible: please be patient. I know you want to file your tax return already. Apparently you’re one of the lucky folks getting a refund this year. And I know you want your money. But give us some…