Taxpayer asks: I was told that if I make more than 46,000.00, my family didn’t qualify for the EIC. My wife saw on the news this morning that if you make less then 71,000.00 that we should qualify. I’m married with two children, one born in 2009. Which is correct? Thanks Taxgirl says: Hmm. As…
I got a glimpse of the 2011 budget proposal on the news last night. It’s big. As in big thick book big. And I will admit to not having read all 192 pages yet. But I’m making progress. You can download the whole thing at once – or in little bits (as I have done)…
Update: We have a winner! It’s Adrienne! Jaime was also a winner for getting the bonus question right. For the answer, see the comments! Our next tax trivia question for the giveaway is: Since its inception in 1975, the EITC has been controversial – no wonder, since it’s considered one of the largest social welfare…
The good news: nearly 50% of American households (47%, to be precise) won’t pay any federal income tax in 2009. The bad news: the remaining 50% (or so) will have to foot the bill for everyone. You can thank (or blame) the new economic recovery package for bumping the percentage of taxpayers who won’t be…
Robert D Flach, the internet’s “Wandering Tax Pro“, writes: If I ruled the world, or at least had a voice in rewriting the Tax Code, not only would every man be as free as a bird and every voice be a voice to be heard, but I would also make the following changes to our…
David Smith writes: If I could make one change in the tax code, I would eliminate any benefits for having children. I chose to be single. I chose not to have children. I am appalled to see how much our tax system subsidizes having children. It is welfare, just put forth another way. I already…
As the economy continues on its wild ride, the IRS has announced a series of adjustments for tax brackets and other provisions for the 2009 tax year. These adjustments, in response to inflation, are required by law. Note that these adjustments will affect your 2009 tax return, normally filed in early 2010. Your 2008 tax…