Taxpayer asks: I work for an accounting firm and my boss mentioned she had heard on TV (gotta love the media) that because the first round of stimulus checks didn’t stimulate the economy as they thought ( I loved your – who really did profit from the stimulus checks), that the IRS was considering another…
Taxpayer asks: My mother in law has lost about 7000 in the past year with her stocks and bonds. She is thinking about taking them all out and paying off her mortgage. What kind of penalty will she pay and is there any additional IRS penalties that she is not aware of? Is there any…
It’s that time of year! I’m cleaning out my inbox – there are a lot of “ask the taxgirl” questions and I’ve been busy reporting tax news, as well as speaking engagements (whew). Look for a slew of “ask the taxgirl” posts this week. And if you have questions that you haven’t yet asked, don’t…
Taxpayer asks: Is this true? Post this on taxgirl.com with an answer please. Windfall Tax on Retirement Income Adding a tax to your retirement is simply another way of saying to the American people, you’re so darn stupid that we’re going to keep doing this until we drain every cent from you. That’s what the…
Taxpayer asks: Hey taxgirl, I love your site and I read it every chance I get. This is not the kind of stuff I would read normally but I like it. Can you name other web sites that you read? I’m not interested in technical stuff. Taxgirl says: First of all, thanks so much for…
Taxpayer asks: Is there a remedy for a lost stimulus check? Taxgirl says: Are you sure that it’s lost? Or just not processed yet? I would call the toll-free Rebate Hotline at 1-866-234-2942 and ask the IRS. You can also visit your local Taxpayer Assistance Center.
Taxpayer asks: Hi Kelly, Is it true that is you owe back child support then you will not receive the tax stimulus? Thanks, Taxgirl says: More or less. That’s kind of a loaded question because it depends on a few factors… The IRS can withhold stimulus payments up to the amount owed for federal liabilities…
Taxpayer asks: I live and bought a car in NJ for $30,000 and paid $2,100 in sales tax. After two years sold the car to a neighbor for $20,000. When he transferred the title he had to pay $1,400 in sales tax. Is this double taxation? Taxgirl says: I’m afraid not but it is understandable…
Taxpayer asks: My son wants to know when he’ll have to file for taxes, he started mowing lawns this summer and is getting paid $25 per yard. Taxgirl says: Wow, I feel old. I used to get paid $10/yard for biggish yards in the country. *sigh* Whether your son will have to file and pay…
Taxpayer asks: I just recently (December 2007) became a US Resident, I have been illegal before that, since 2002. This year will be my first year filing taxes. And I do not know how to go about it. Or what info should I have handy. Any suggestions? I did worked before I became a US…