Update: We have a winner! It’s Michelle! For the answer, see the comments! Our next tax trivia question for the giveaway is: What is the most misused Social Security number in history, with more than 40,000 taxpayers using it as their own? The first correct answer wins free CCH tax prep software. My answer on…
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…
My inbox is crowded with queries from retirees asking me when the $250 economic recovery payments (some folks also refer to them as additional “stimulus checks”) will be mailed out. Well, I finally have an answer. Vice President Joe Biden and Michael Astrue (the Social Security Commish) have announced that checks will be mailed in…
Taxpayer asks: What a great service. Hope I can explain this good enough. I have been disabled for 3 years, have received disability income from a private insurance company. This was not taxable because I paid the premiums. Was approved for disability end of 2008 and got a lump sum check. Had to then send…
Taxpayer asks: Hi, I work for a company and am currently deployed to Iraq. I had met the Social Security Cap for withholding mid 2008 and mid year was transferred to our subsidiary. They again withheld my Social Security to the Cap so in effect I paid double the amount I should have. Can I…
We have a winner! See comments! Our next tax trivia question is: In the mid-50s, Congress passed a law stating that Social Security benefits were not “rights” and could be taken away for a number of reasons, including deportation. Shortly thereafter, a resident alien who paid taxes into the Social Security system was eventually denied…
It’s Fix the Tax Code Friday! Over the last few days, there has been a lot of focus on Obama’s nominee for Secretary of the Treasury, Timothy Geithner, and his tax woes. Geithner’s tax problems still from the failure to pay self-employment taxes during his stint at the IMF. Critics on both sides have seized…
Taxpayer asks: Would my Mother who is on Medicaid and in a nursing home – be eligible for the stimulus payment? The money would be deposited into her checking account to help by for “extra” things for her at the nursing home. She doesn’t file because the only source of income is SS – 14,300.00….
Taxpayer asks: Would my Mother who is on Medicaid and in a nursing home – be eligible for the stimulus payment? The money would be deposited into her checking account to help by for “extra” things for her at the nursing home. She doesn’t file because the only source of income is SS – 14,300.00….
By far, the most popular questions to “ask the taxgirl” this season have involved the tax rebates. Of those, the most asked is “Do I qualify for a tax rebate?” To help you figure it out, here is a list of folks who do NOT qualify for a tax rebate: 1, You will NOT qualify…