Taxpayer asks: We owed taxes for 2007 when we filed. We also had owed taxes from a few years ago. I was under the impression that the IRS would deduct the amount of taxes owed for any prior year(s) from the stimulus payment, but would not affect the 2007 taxes. We just received letters from…
ParagraphMore Styles Taxpayer asks: Taxpayer asks: Hi Tax Girl! Maybe you will find this interesting.. Just bought a car off of ebay motors. The car is in a different state. The person I am purchasing the car from does not have a physical presence in my state of any kind. And the entire transaction has…
Taxpayer asks: With employees using their Blackberrys for email and phone service where it’s a mix between personal and business usage, what’s a reasonable approach when deciding how much can be taken as a deductible business expense? Taxgirl says: I think the same rules apply here as with cell phones. Check my prior post on…
Taxpayer asks: I don’t understand. I have my stocks on a program that reinvests the dividends back into the stock. My broker says that this increases my bases. But my CPA says that I have to report this on my taxes. Why is this if I haven’t sold the stock? Taxgirl says: Dividend Reinvestment Programs…
Taxpayer asks: I thought the Postal Service’s “forever stamp” was a great idea. I stocked up on forever stamps at 41 cents each right before the new postage rate went up to 42 cents. Now I have a dilemma. Since these forever stamps with a basis of 41 cents are now worth 42 cents when…
Taxpayer asks: I PAY MY XWIFE SUPPORT CAN I CLAIM THAT MONEY ON MY TAXES? Taxgirl says: This is another one of those questions for which I have received a bunch of variations on a theme. It’s not just high profile divorcees like Britney Spears and Kevin Federline, pictured above, who have to deal with…
Taxpayer asks: Hi TaxGirl. I’ve searched all over the Internet and the IRS.gov website and I can’t find an answer to my question, so I’m hoping you can answer it: My sisters don’t currently have healthcare insurance, so my mom is helping them with some of their healthcare bills and expenses. My understanding is that…
Taxpayer asks: Hi Kelly! I just received my tax rebate, but it was for $600 and I am a single mom so I though it would be $900. I was just wondering how I go about figuring out which amount is correct. Will I receive the $300 later for my son? You are the only…
Taxpayer asks: Heeello! I was wondering if it is true that my stimulus payment could be taken for outstanding hospital bills I have yet to pay? If so, “How will that help boost the economy?” Thanks for your time… Taxgirl says: The short answer is no. Rebates are being withheld or reduced for federal obligations…
Taxpayer asks: I have a problem. I let my son’s father claim us on his taxes and he died on 3/29/08. What do I do to get the rebate back on, at least on my son and myself? Not to sound morbid! But what can I do? Taxgirl says: If the return for 2007 was…