Federal & State Tax Payment Options and Refund Status Information
For everyone’s convenience, I decided to compile a list including refund and payment information for filing your Federal and State income tax. In general, you can check on the status of your refund 7 days after you e-file. If you filed a paper return, allow 4 to 6 weeks for processing before checking on the status. Therefore, the quickest way to get your refund back is to e-file your tax return. Here are some tips directly from IRS Website: How long should I wait to check for my refund status? Answer: Please wait 7 days after you e-file. If you filed ...
State Free Tax Preparation and Electronic Filing
If you read my previous entry on IRS Free File Alliance - eFile Your Taxes For Free, today we will take a look at the free file programs for the states. Like the IRS Free File Alliance Program, some state also participate in the State Free File Alliance to offer free tax preparation and e-file services to eligible taxpayers. Individual tax software companies provide these free services. Each participating company sets its own eligibility requirements. Not every taxpayer qualifies for the free services. Below are the requirements from some of the tax software companies. Intuit Tax Freedom Project offers free state ...
News
Cash for ClunkersCourtesy of David & Mary Mellem, EAs Cash for Clunkers (not a tax issue but…) This...
Paying for Health Reform: Tax the Fella Behind the TreeThe American public is deeply divided over whether to raise taxes to pay for health...
Self Help With California ProbateIt may be difficult for some to proceed in court without an attorney familiar with...
Proper Employment Tax Treatment of Part-Time or Seasonal WorkersCourtesy of the Internal Revenue Service June 04, 2009 For many businesses, summer...
IRS Releases Form to Reconcile the Stimulus PaymentsCourtesy of David and Mary Mellem, EAs IRS has released the draft of the new Schedule...
Read More Posts From This CategoryArticles
Changes to the Tax Exclusion of Employer-Sponsored Health Insurance Premiums: A Potential Source of Financing for Health ReformMany have suggested that reducing or eliminating the tax exclusion of employer-sponsored...
An Update on the Economic Crisis and the Fiscal Crisis: 2009 and Beyondhis paper reviews recent economic events and their impact on U.S. fiscal performance...
Do We Need a Value-Added Tax to Solve Our Long-Run Budget Problems?The U.S. budget is on an unsustainable path. That is because Social Security, Medicare,...
The Future of Long-Term Care: What Is Its Place in the Health Reform Debate?More than 10 million Americans require long-term care supports and services. Yet...
Why Won’t the Obama Administration Accept Taxing Employer-Paid Health Premiums?Barack Obama’s fiscal policy platform as a presidential candidate was hardly...
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Ask TaxMama Issue 511 - Independence from Taxes[Just a reminder…TaxQuips will be dark next week while we are at the IRS Tax Forum. Follow Your TaxMama® on Twitter. ] Dear Family, Fourth of July weekend is coming up. Many folks are already off for the holiday since it falls on a Saturday. In seems wisdom has it that when a holiday falls on a Saturday, you get Friday off. If it’s... [Read more of this review]
Cash for ClunkersCourtesy of David & Mary Mellem, EAs Cash for Clunkers (not a tax issue but…) This is not a tax issue, but contains a part you may be interested in knowing about. We have already heard from clients asking about this so we figured we’d share what we found. HR 2346 was passed by the House and Senate and forwarded to President Obama, who... [Read more of this review]
Balancing the Medical BudgetMy Mom used to cut chicken, chop eggs and spread mayo on the same cutting board with the same knife and no bleach, but we didn’t seem to get food poisoning. My Mom used to defrost hamburger on the counter and I used to eat it raw sometimes, too. Our school sandwiches were wrapped in wax paper in a brown paper bag, not in ice pack coolers, but... [Read more of this review]
Time Limit For TaxesToday TaxMama hears from James in Arizona with a quick question. “Is there a statute of limitations on collecting back taxes?” Dear James, There are several limits – or no limits, depending on how you look at it. In general, the federal limit (IRS) is 10 years after the tax has been assessed. But that 10 years can be expanded,... [Read more of this review]
Small Business SoftwareToday TaxMama hears from Leah in Georgia who wants to know. “What is the best small business tax software? I have doubts about QuickBooks and Quicken for business.” Dear Leah, Hmm…I can understand your doubts about QuickBooks and Quicken as tax software, since neither of them are. They are bookkeeping programs. Tax programs, for... [Read more of this review]
Racing SponsorshipToday TaxMama hears from Craig in California with this question. “I’m a kart driver, who is going to be doing a lot of racing in Europe in 2010. My budget and sponsorship money that I’m expecting to receive is in the 5 to 6 digits. Do I have to pay taxes on the sponsorship money I receive from companies or corporations? I receive... [Read more of this review]
Expiring Homeowners CreditToday TaxMama hears from Penny in Kansas who is confused. “Have you heard anything about the new home tax credit having to be used by Monday, June 29, 2009? A couple of realtors have told clients that the money’s running out. If we are going to get the credit, they must get it by Monday.” Dear Penny, That’s utter nonsense.... [Read more of this review]
Ask TaxMama Issue 510 - Dying to PlanDear Family, Just as we were starting last night’s EA Exam Review Class, someone announced that Michael Jackson (age 50)had died. Despite all the controversy surrounding this man-child, he has remained steadfastly popular. In fact, he had a series of 50 concerts scheduled in London that had already sold over $85m(£52m) worth of tickets.... [Read more of this review]
Proper Employment Tax Treatment of Part-Time or Seasonal WorkersCourtesy of the Internal Revenue Service June 04, 2009 For many businesses, summer traditionally brings an influx of part time or seasonal workers into the work force. Employers must ensure they are treating these workers properly for employment tax purposes. Generally, workers are either employees or independent contractors, based upon the facts and... [Read more of this review]
Well Planned RetirementFrom The London Times: Outside the Bristol Zoo, In England, there is a parking lot for 150 cars and eight coaches, or buses. It was manned by a very pleasant attendant with a ticket machine charging cars £1 (about $1.40) and coaches £5 (about $7). This parking attendant worked there uninterrupted for all of 25 years. Then, one day, he didn’t... [Read more of this review]
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