Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
Taxpayer asks: I didn’t file my taxes yet. I have my reasons. What I need to know is can I wait until next year now to do both? It doesn’t matter since it’s already late. taxgirl says: Noooo! I get variations on this question a lot. And the answer is still noooooo. You should make…
It’s Tax Day! Chances are, you’ve already filed… Only a third of all tax returns are filed during the last week of tax season. But if you haven’t, keep these tips in mind: Postage rates for large envelopes went up yesterday (yes, yesterday). If you’re mailing your return – and it’s a big one –…
I’m peering out of my window on this early Sunday morning and there’s little evidence of the storms that moved through yesterday except for a lot of wet ground. I know that many of my friends and readers are not so lucky this morning, especially those in my home state of North Carolina. My thoughts…
Taxpayer asks: Hi TaxGirl, Great website. You have put together a stunning resource. I really have enjoyed looking around! I have a brief question. I am 23, have a job, and live on my own. I went ahead and filed a federal return in February claiming myself as a dependent. I received a tax refund…
Did you get up this morning in a panic, trying to figure out how you’re going to make it to the post office to mail your taxes? Relax, it’s not Tax Day. Yeah, it’s usually Tax Day today – but not this year. This year, Tax Day fell on Emancipation Day, which just so happens…
Taxpayer asks: Ok, I file my tax for 2009 and claim the Making work pay credit for that year. So can I claim for 2010 year as well? taxgirl says: Sure. So long as you qualify in each year, you can claim the credit in each year. It’s not limited to just one year as…
Taxpayer asks: I give monthly to a Christian Radio Station. Is this considered a deduction since it comes out of my blogging business account, not my personal account??? taxgirl says: I love this question because there are a bunch of issues here… One, it’s smart that you’re keeping your blogging business and personal account information…
Taxpayer asks: Are retired persons who have a working interest in natural gas wells eligible for the making work pay credit? taxgirl says: If the interest means that you’re simply receiving a check from the gas company, then no. You have to have earned income in order to qualify for the Making Work Pay Credit….
The arrival of catalogs at my house have done quite a bit to up my daughter’s work ethic. She has it in her head to buy an American Girl doll, complete with accessories, and if you know anything about the brand, you know it’s not cheap. With that, she’s been offering to do all kinds…
The last of the Taxes from A to Z series is Z for Code Z. Code Z is a relatively recent addition to the tax world. It made its debut on the 2005 federal form W-2 (and the related federal form 1099-MISC) as part of the American Jobs Creation Act of 2004. The purpose of…