Blog Profile / Don't Mess With Taxes


URL :http://dontmesswithtaxes.typepad.com/
Filed Under:Business & Finance / Taxes
Posts on Regator:2253
Posts / Week:6.3
Archived Since:September 28, 2008

Blog Post Archive

How to get more time to file your tax return Be sure to pay any taxes you owe with your Form 4868

"Laughing and crying, you know it's the same release." Although that Joni Mitchell line from People's Parties has no connection to taxes, the sentiment seems perfect for April 15. Today's filing deadline is full of gnashing teeth, cries of frustration, fits of anger and sighs of relief. Show More Summary

5 tips to make sure your snail mailed tax return gets to the IRS

Electronic tax filing continues to grow. The Internal Revenue Services had received almost 91 million e-filed returns through April 3. That's slightly ahead of the e-filing numbers at the same point a year ago. And it represents more than 91 percent of filers. Show More Summary

5 last-minute tax filing tips

April 15 is Wednesday. Don't panic. You can do it. I know because I'm in the same boat. I've spent the last few hours sorting through my documents -- and yes, finally downloading some 1099s from my online accounts -- and putting things in order so that I can plug it all into my tax preparation software. Show More Summary

HBO's John Oliver defends the IRS as April 15 nears And Grammy winner Michael Bolton serenades the tax agency

Wednesday is Tax Day. Those of us who've yet to file (guilty!) our taxes have until midnight our local time on April 15 to get our returns (and money) to the Internal Revenue Service. That means that these next three days are filled with frustration and anger, much of it directed at the IRS. Show More Summary

Obamacare, NYPD donations offer new tax considerations

Every year, we have to deal with a few new tax laws. This year the biggie is the Affordable Care Act, known by its acronym ACA or its popular nickname Obamacare. Millions of us this filing season are reporting our health care coverage...Show More Summary

'Working at the IRS sucks,' according to employees

This showed up in my snail mail box today: Working for the nation's tax collector has never been an easy job. Internal Revenue Service employees say, however, that the agency's recent problems have made their jobs even more difficult and frustrating. Show More Summary

Above-the-line deductions offer tax breaks without itemizing

I know I just extolled the virtues of tax credits over tax deductions. But you don't have to pick one or the other. Claim all the credits and deductions you can. When deductions are mentioned, most folks think itemized deductions. That's mainly because they have their own special form, Schedule A. Show More Summary

12 tax credits that could cut your IRS bill

Tax deductions, whether itemized or above-the-line, and tax credits can save you money, but they do so in different ways. A deduction lowers the amount of your income on which tax is figured. Less income generally means a lower tax bill. Show More Summary

10 tax sins of commission that could be quite costly

It's one thing to make an innocent mistake on your taxes, or to overlook a tax break that could lower what you owe Uncle Sam. Those tax sins of omission are costly, but usually won't invoke the ire of the Internal Revenue Service. When you intentionally disregard tax law, however, such willful neglect will get you in real trouble. Show More Summary

IRS headquarters hit by brief Washington, D.C., power outage Avoid possible tax & other problems by not waiting until last minute to file

Tuesday was a dark day at the Internal Revenue Service. Literally. The tax agency's downtown Washington, D.C., headquarters was among buildings in the national capital hit by a blackout. The White House also was affected, along with many of the city's popular museums and some Maryland suburbs, including the University of Maryland in College Park. Show More Summary

Don't commit these 10 costly tax sins of omission

A sin of omission basically is a failure to do something you can and should do. They happen all the time in our daily lives, often inadvertently. Even, or many would say especially, at tax time. Tax sins of omission typically are failing to claim tax breaks for which we're eligible. Show More Summary

Chaffetz goes after tax-delinquent federal employees (again) Federal workers owe $1 billion; military, retirees owe another $2.4 billion

It's that time of year again. No, I'm not talking about the rapidly approaching tax-filing deadline. (Yikes, can we slow down that countdown clock in the right column a bit?!) I'm talking about Congress' annual posturing about federal employees with overdue federal income tax bills. Show More Summary

Don't bet on fooling IRS with bought losing lottery tickets

No, this is not another nag reminder from me to report your NCAA men's basketball championship winning bets as income when you file your 2015 tax return next year. It is instead a warning to be honest about any gambling losses you claim to offset your Duke vs. Show More Summary

Mad Men's tax commentary, circa 1970

Thank you Matthew Weiner and Mad Men writers for another tax tidbit in last night's return of the show. When the partners at Sterling Cooper & Partners agreed to merge their struggling agency with advertising giant McCann Erickson, they all became very wealthy. Show More Summary

Cigarette tax hike seen as way to fill Alabama budget gap AMC's 'Mad Men' and the changing views, roles of cigarettes in America

Alabama smokers now pay 42.5 cents in taxes on each pack of cigarettes they purchase. If the Yellowhammer State's governor gets his way, those taxes will almost triple. Gov. Robert Bentley is yet another Republican who has been forced by fiscal realities to consider and even support higher taxes. Show More Summary

New Jersey man's sports betting pool lands him in legal mess Others violate tax law by not reporting their winning office pool wagers

If you work in an office, chances are you've dropped a few dollars into the men's college basketball tournament pool. Chances also are that you didn't realize your casual sports betting is illegal. No, this isn't some late April Fools' Day joke. Show More Summary

State and federal EITC benefits pay off for lower-wage workers Plus, starting this week, bonus tips in the Daily Tax Tips weekly roundup

The economy is picking up, but mostly for folks who already are doing OK. Others, however, find that their low-wage jobs don't provide income sufficient to make ends meet. To help ease some of this income inequality within their borders, 25 states and the District of Columbia have enacted earned income tax credits. Show More Summary

Tax tips for the self-employed small business owner

It's answers like these that make me love Jeopardy. The correct question is, of course, "What is self-employed?" I really wish Alex Trebek would have accepted the total tax response, "Who gets 1099 forms?" But I suspect contract killers and those who hire them don't want any paper trail. Show More Summary

Justice Department won't pursue contempt of Congress charges against former IRS executive Lois Lerner

Lois Lerner, the former head of the Internal Revenue Service's Exempt Organizations Division and the GOP focal point in the tax agency's Tea Party tax-exempt debacle, is off the hook for her refusal to testify before Congress. Before...Show More Summary

IRS' Koskinen says tax agency's troubles are over. No joke.

"We no longer pay performance awards to employees who have willfully failed to pay their taxes." Critics of the Internal Revenue Service may think that statement from Commissioner John Koskinen is an April Fools' joke. After all, the agency had been shooting itself in the foot for years now. Show More Summary

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