Tax rebate checks will be mailed in May, according to Treasury Secretary Henry Paulson. Just a day after I criticized the rush to sign an economic stimulus plan, the House of Representatives voted 380-34 in favor a Senate version of the economic stimulus package. The bill goes to the President today and the White House…
Just perfect on a Monday morning – this film made me giggle. Enjoy!
And why does it matter on a tax blog? Consider this. You buy a house in the midst of a housing boom. Prices go up, up, up. Subprime mortgage mess hits. Other credit woes ensue. Housing market drops. As in plummets. And suddenly, your house isn’t worth as much as you thought. Sound familiar? It…
Taxpayer asks: I loved your presentation at BlogHer. Your session addressed more of my blogging concerns than any other I attended. My friend and I have been discussing taxes and blog product reviews lately, and I have a few interrelated questions. I would really appreciate whatever help advice or resources you can offer. I have…
The Internal Revenue Service reported yesterday that as many as 13.5 million taxpayers will have to wait to file tax returns until computers can be reprogrammed to comply with the new law. It estimated that taxpayers cannot file forms related to the AMT until February 11, nearly a month after the usual start of the…
Susan Pace Hamill, a professor at the University of Alabama Law School (who also hold a seminary degree in divinity) has written a book entitled, “As Certain as Death” (Carolina Academic Press, 2007), that seeks to document how the individual states have tax policies that burden the poor and relieve the rich. This, she says,…
As the New Year rings in, Texas will levy a “pole tax” or “stripper tax” on patrons of the state’s strip joints. That’s right, strip club patrons in Texas, break out your wallets because you will now be charged an extra $5. The proceeds of the tax will benefit rape victims in Texas. “This is…
Every year about this time, I get a lot of questions about deducting sales tax paid versus state and local income tax paid on your federal income taxes. Mostly, this comes up because your pockets are stuffed with receipts and you’re wondering whether you should keep them. First, the important part: this option has been…
Maybe the Internal Revenue Service has some of your cash! The IRS is looking for 115,478 taxpayers who are due refund checks worth about $110 million after the checks were returned as undeliverable. Yep, that averages out to nearly $1000 a pop. If you are expecting a refund and have not received one for the…
Following up on my post yesterday, today’s Fix the Tax Code Friday question is: Do you think that the IRS should be allow to select which providers offer electronic tax filing?