Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
I’ve written quite a few posts on the Making Work Pay Credit this year. If you’re looking for something specific, try these: Calculating the Making Work Pay Credit Understanding the Making Work Pay Credit What to Do if You Forgot to File the Schedule M Calculating the Making Work Pay Credit When One Spouse Works…
Seriously? You’re not late. If you haven’t filed your taxes yet, you still have a moment or two to spare. Despite some of the headlines that I saw this morning about “late” tax filers, Tax Day is still April 15, same as always (or unless it falls on a holiday or weekend, in which case…
Taxpayer asks: Thank you for an interesting blog. The dictionary defines tolls as taxes. Are they deductible like property taxes, or only for business purposes? Taxgirl says: What a really interesting question! I did a little bit of research and tolls seem to be treated by the IRS as user fees and therefore, not deductible…
I was interviewed earlier this week on TurboTax. Check it out: TaxCast: Last-Minute Tax Tips | The TurboTax Blog
I’m sure you’ve seen the headlines all over the place about the projected stats for 2009 taxpayer liability… Here’s my take: No income tax payments for nearly half of us! – it continues!
Another bit on NY1 – this time regarding audits: IRS Audits Need Not Be Feared – NY1.com
Taxpayer asks: Last year, I cashed in my IRA to pay off some doctor bills. I lost my job and couldn’t pay but I did have my IRA so I used that to pay. I used the whole thing. Last month, I got a 1099 that says that it is all taxable. Please help because…
H&R Block is offering 24-hours of free tax advice on Thursday, March 25. More than 50 tax experts will answer personalized tax questions via the H&R Block Tax Talk Line from 12:01 a.m. CT through 11:59 p.m. CT. Taxpayers can call 1-866-HRBLOCK or e-mail taxtalk@hrblock.com for free advice. Questions can also be submitted online at…
I’ve received a lot of inquiries related to the Making Work Pay Credit and the Economic Recovery Payment. You cannot receive the maximum credit for both. If you are disabled or retired and received the Economic Recovery Payment, you must report it on your Schedule M when claiming the Making Work Pay Credit. It is…
Taxpayer asks: Hi There, I am totally confused as to how we should file our taxes. By December 31st 2009 my husband and I had paperwork in the court in California that specifically states we are separated, a division of property and finances and an order for him to pay alimony. We have never lived…