Tax Update Piece On Its Way
A lot has happened in the tax world over the past 24 hours. I’m working on a comprehensive article about the new tax bill. In the interim, you can catch some of the highlights in this piece I did for AOL’s WalletPop.
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10 Expiring Tax Cuts To Watch For
The expiring Bush tax cuts – and what will happen to them – are all over the place these days. Folks seem to have very definite opinions about what should (and shouldn’t) happen. But it also seems like, for all of the publicity over the cuts, taxpayers really don’t understand what it all means. I…
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Still No Movement on Tax Cuts
Vote early and vote often is taking on a totally different meaning these days. Congress is voting on the tax cuts – they’re just not getting anywhere. Today, the Senate voted twice on measures to extend tax cuts and failed to pass either version. One version would have extended the tax cuts to families making…
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Vote On Tax Cuts Expected This Week
House Speaker Nancy Pelosi (D-CA) indicated just a few weeks ago that a vote on the expiring Bush tax cuts would happen in mid-December. It turns out that the rest of the House is a bit more optimistic than she is: Rep. Chris Van Hollen (D-MD) has announced that he expects a vote on Thursday….
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Warren Buffet Says Tax the Rich More
Warren Buffet tells Christiane Amanpour that the wealthy should pay a “lot more” in taxes in this clip from an upcoming interview on “This Week with Christiane Amanpour.” Buffet does, however, advocate cutting taxes for those in the lower brackets. In this clip, Buffet also references the Alan Simpson and Erskine Bowles plan which has…
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Ask The Taxgirl: Reporting Alimony Received
Taxpayer asks: Dear Taxgirl: Do I have to file if I receive Alimony less than 8000 a year? and that is all I made? taxgirl says: The first part of your question is easy: you report alimony received on your federal income tax return no matter what the amount. There is no reporting threshold. The…
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Ask The Taxgirl: IRS & Disclosure Of Taxpayer Information
Taxpayer asks: Dear Taxgirl: I am curious. Isn’t it against the law for the IRS to discuss taxpayer’s confidential information? If so, how did the House ethics committee learn about Rep. Charles Rangel’s failure to pay tax on his Dominican rental? taxgirl says: The IRS does not, as a rule, discuss confidential taxpayer information. If…
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Black Friday, Indeed, For Congress: Vote Looming
Democratic leaders met this week to talk turkey and decided on two things: A vote on the Bush tax cuts won’t happen until after Thanksgiving; and The Bush tax cuts will be extended for those making $250,000 or less. And that’s all we have. That means there’s a lot, obviously, that we don’t know. Here…
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Baby, It's Cold Outside
Tonight, our temperature is slated to drop into the 30s. In fact, it’s supposed to start doing that on a pretty regular basis, something I imagine my mom is thrilled about as she packs to come visit me for Thanksgiving. She just loves the cold (insert hysterical laughter here). We live in a 19th century…
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Does The IRS Have Your Refund Check?
Each year, the IRS faces a pretty odd challenge: trying to give people their money back. If you move or make an error entering your address on your tax return – and you’re due a refund – the IRS may not be able to find you. This year, the IRS is looking to return $164.6…