Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
My oldest daughter tans at the drop of a hat. Even in early spring, she starts to brown a little bit while the rest of us stay fairly pasty (I got it honest with my Welsh roots). She’s just now starting to realize the difference and for some reason, it bothers her (we’ve also had…
The homebuyer tax credit has been extended. Homebuyers now have until September 30, 2010, to close on their purchases after a late-night deal passed by the Senate. The bill now goes to President Obama who is expected to sign it into law. An extension had been proposed months ago but the measure failed to be…
The homebuyer tax credit has been extended. Homebuyers now have until September 30, 2010, to close on their purchases after a late night deal passed by the Senate. The bill now goes to President Obama who is expected to sign it into law. An extension had been proposed months ago but the measure failed to…
Despite some pretty serious lobbying efforts by realtors, banks, lenders and goodness knows who else, it looks like the homebuyer’s credit may not be extended. The credit was set to expire tomorrow. In other words, to qualify for the tax credit, homebuyers had to close by June 30, 2010. For one reason or another, that…
Oh media, stop trying to create drama where there is none… Days after the IRS confirmed that some compensatory payments to victims of the Gulf Spill are taxable, the news is filled with sensational headlines implying that this is some kind of evil money grab by the government. Shame on those reporters. What’s happening in…
So here’s where we are on HR 4213, also called the Tax Extenders Bill or the ever-so-catchy American Jobs and Closing Tax Loopholes Act of 2010: nowhere. The bill, which has been proposed in one form or another for over six months, failed yet another test this week when a revised version failed in the…
Taxpayer asks: What is it that you need to show you gave things to Goodwill or your school other than a statement from them to that effect? My lady said something I do not understand. Is there some special form they have to fill out or what? Thanks. Oh yea I saw you on AOL….
Taxpayer asks: Quick Q: I’m leaving my full-time job 2 start grad school. Moving 300 miles. R moving expenses deductible under IRS 455 Taxgirl says: My answer on twitter: Not for grad school. Just for jobs. Grad school may feel like it’s a job but the IRS doesn’t think so. 😉 And now the extended…
The crazy train that is Congress just keeps on rolling this week. Despite the overwhelming cost to taxpayers of the homebuyer’s credit, Senate Majority Leader Harry Reid (D-NV) has caved to housing lobbyists decided that money does, in fact, grow on trees panicked about the number of seats the Dems appear to be losing in…
In an era of shrinking tax revenues, most states are rushing to raise funds by increasing rates and simply taxing more stuff. Rhode Island, however, has a different idea. The tiny New England state may be geographically the smallest in the country but it has big plans to make the state more attractive to business….