Categories underneath Taxes: Personal/Family:
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Date Fairness.com Resource Read it at: Jun 11, 2010 Confusion Over the Dormant Estate Tax Keeps Advisers Busy
QUOTE: THE disappearance of the federal estate tax this year has created confusion and frustration among the wealthy, even among those who stand to benefit from it.
New York Times May 07, 2010 Seeking Lower Property Taxes on a House of Sinking Value
QUOTE: Challenging property taxes is becoming a national sport, as homeowners contend they are paying too much as their houses decline in value. Some, too, have lost their jobs or have seen their salaries cut and can no longer afford their hefty property taxes.
New York Times Apr 08, 2010 IRS registration of tax-return preparers is long overdue
QUOTE: The Internal Revenue Service has issued proposed guidelines in an effort to keep track of the estimated 1.2 million paid tax-return preparers....When the IRS issued its 2010 "dirty dozen" scams, tax-return preparation fraud topped the list.
Washington Post Feb 25, 2010 Fixing independent programmers' no-win scenario: A hostile business climate is stifling entrepreneurship in software development, and the U.S. economy pays the price
QUOTE: certain classes of workers, including anyone who engages as a "computer programmer, systems analyst, or other similarly skilled worker engaged in a similar line of work," are considered de facto employees for tax purposes...The IRS can impose significant tax penalties on companies who hire such workers as contractors rather than full employees, a fact that can make it extremely difficult for self-employed programmers to find work.
InfoWorld Sep 16, 2009 When Work Doesn't Pay For The Middle Class: Middle-class folks are finding that a raise or second paycheck doesn't always mean living better. Time to work less?
QUOTE: Work isn't the only middle-class virtue that is getting punished. The system penalizes savings, too--not just through taxes, but also through programs that reward debtors, the profligate and college families that show up at the financial aid office with empty pockets. Yet another series of tax and benefit rules penalizes marriage.
Forbes Sep 06, 2009 IRS asked to repeal cell phone tax: Businesses are urging the IRS to cease taxing the personal use of work-issued cell phones.
QUOTE: A message is being conveyed by lobbying groups for a wide array of industries... cell phones are so ubiquitous and have become such an essential business tool that it’s nearly impossible to keep track of the line between professional and personal use [to document for income tax purposes].
Hill Aug 17, 2009 Tax Bills Put Pressure on Struggling Homeowners
QUOTE: in recent years struggling cities and counties have sold their delinquent tax bills to the highest bidder... But housing advocates say the private companies may be exacerbating the foreclosure crisis, pushing out homeowners faster than would governments, which are increasingly concerned about neighborhoods becoming wastelands of abandoned properties.
New York Times Jun 12, 2009 IRS Seeks to Simplify Workers' Cellphone Tax Law
QUOTE: the Internal Revenue Service is weighing whether a portion of a work-related cellphone bill should be taxed as income....The law was designed to prevent employees from using employee-issued cellphones for personal calls and then writing them off as a work-related tax deduction.
Washington Post Feb 19, 2008 10 Things Your Tax Preparer Won't Tell You (10 Things)
QUOTE: ...recently filed lawsuits allege that the owners of 125 Jackson Hewitt franchises cost the government $70 million in tax fraud and created an environment "in which fraudulent tax-return preparation is encouraged and flourishes," according to the Department of Justice.
Smart Money Jan 31, 2008 5 homeownership tax myths (Flexible spending accounts)
QUOTE: ...as is often the case with the U.S. tax code, homeownership tax benefits are not always clear-cut. That frequently leads to some bad information floating around. While myths, half-truths and misconceptions may abound, we've narrowed it down to five that, if you buy into them, could cost you.
Bankrate.com Jun 10, 2007 Of Sickness and of Wealth: Health Savings Accounts Make Sense if You're Physically and Fiscally Fit
QUOTE: While consumer-driven health plans like HSAs allow employers to reduce their expenditures on employee health care… the complexity of the paperwork and investment options plus calculating the costs and benefits can be overwhelming.
Washington Post Apr 17, 2007 House to Vote on Bill to Ban Web Site Names That Resemble Those of U.S. Agencies
QUOTE: A Web industry trade group, the Computer and Communications Industry Association, issued a statement last week warning consumers that Web sites like irs.com, irs.org and irs.net “make money by offering services that, in many cases, taxpayers could get for free through the I.R.S.’s official Web site, irs.gov.”
New York Times Apr 13, 2007 A dreaded tax is slated to be fixed: Lawmakers have vowed to revise the alternative minimum tax, which is imposing higher taxes on 4 million middle-class households this year.
QUOTE: The problem is that the AMT [alternative minimum tax] threshold was never indexed to inflation. As a result, more middle-income Americans like Ms. Rauh are getting snagged by it. For many, that means their mortgage-interest deduction, which might have saved them thousands of dollars in taxes in the past, suddenly no longer counts.
Christian Science Monitor Dec 11, 2006 How you can deduct now, give later: Want to share the wealth, but don't know where? Financial experts point to donor-advised funds as a good choice.
QUOTE: For tax purposes, donor-advised funds function as a charity in their own right. Once the donor has made the contribution, the full amount is tax-deductible in that tax year. (It's also nonrefundable.) Donors can then wait months or years, while the investment presumably grows in value, before "recommending" a disbursement to a particular organization.
Christian Science Monitor Aug 19, 2006 70's Law Costs 61,000 Military Widows Thousands of Dollars in Survivor Benefits
QUOTE: As many as 61,000 military widows whose husbands died of causes relating to their military service lose out on thousands of dollars a year in survivor benefits because of a law that dates from the 1970’s...referred to by many critics as the “widow’s tax.’’
New York Times Jul 14, 2006 Getting the runaround from the IRS
QUOTE: in the IRS restructuring act, Congress created the Taxpayer Advocate office ...an IRS program that provides an independent system to assure that tax problems that have not been resolved through normal channels are promptly and fairly handled.
Bankrate.com Jun 13, 2006 Estate-Tax Repeal Would Hurt the 'Small Rich'
QUOTE: When the Senate turned down President Bush's bid to repeal the estate tax permanently last week, it actually did a favor for tens of thousands of moderately well-off households...such households would be worse off under the full repeal scheduled for 2010...than they would be under the 2009 rules, which are more favorable for estates than today's rules.
Washington Post Jun 09, 2006 Senate Plan to Repeal Inheritance Tax Fails: Frist Promises Future Votes on Issue
QUOTE: The Senate rejected a plan yesterday to permanently repeal the federal tax on inherited estates..."The 'death tax' is an unfair burden inflicted upon America's small businesses, farmers, and families during a time of grieving and pain," said Senate Majority Leader Bill Frist...
Washington Post Apr 13, 2006 Many taxpayers getting burned by inept or crooked preparers
QUOTE: Many of the preparers have been accused of using improper deductions and credits to inflate the size of tax refunds in apparent efforts to attract new clients and increase profits...
USA TODAY Mar 21, 2006 Giving extra to your job? Get it back at tax time
QUOTE: If...you paid some work-related costs and weren't reimbursed -- you may be able to turn your professional dedication into a tax break.
Bankrate.com Mar 06, 2006 16 common tax-filing mistakes you can avoid
QUOTE: sometimes an error means we have to pay more in taxes. Other times it delays our refunds. To help make sure your return is perfect, here are some common tax-filing errors that you can avoid.
Bankrate.com Feb 25, 2006 'Phishing' Season For Tax Scammers: IRS Warns Public Of Phony E-Mails
QUOTE: Government officials say they are currently seeing about one widespread IRS-themed e-mail scam a week, but Internet security experts expect them to escalate as the April 15 tax deadline nears.
Washington Post Jan 11, 2006 I.R.S. Move Said to Hurt the Poor
QUOTE: Tax refunds sought by 1.6 million poor Americans over the last five years were frozen and their returns labeled fraudulent, although the vast majority appear to have done nothing wrong, the Internal Revenue Service's taxpayer advocate told Congress yesterday.
New York Times Jan 07, 2006 As Federal Government Contemplates Tax Changes, Make Sure You Understand the Current Rules
QUOTE: This year...Instead of the four-month automatic extension, you can now opt for a six-month automatic extension ...Even if you get an extension to file your tax return until Oct. 15, you must still pay the tax you owe by the original due date, April 17.
Washington Post Jan 04, 2006 Buy-sell agreements a family business must
QUOTE: ...a powerful preventative measure that can preserve a family's love and livelihood: the buy-sell agreement. In it, owners specify a course of action when a "trigger event" such as death, divorce or a withdrawing partner places a business' ownership, or even its continued existence, in jeopardy. The agreement is often included as part of the company's overarching operating agreement.
Bankrate.com Jan 04, 2006 Tips to help you find the tax professional who's right for you.
QUOTE: When it comes to collecting on mistakes, innocent or otherwise, the Internal Revenue Service looks for the taxpayer, not the person who filled out the forms. So before you turn your tax life over to someone else, make sure that the preparer is right for you and will do the right thing when it comes to filing your taxes.
Bankrate.com Dec 14, 2005 The IRS may have an unclaimed refund gift for you
QUOTE: ...the IRS is looking for about 84,000 taxpayers who are owed $73 million in refunds, mostly from their 2004 filings. The main reason the checks came back is simple: The owed taxpayers moved after filing their last tax return...
Bankrate.com Nov 14, 2005 N.H. Puts a Price on Panoramas: Property Taxes Soar Based on Scenery
QUOTE: How do you value a view? That is the strange conundrum that is captivating New Hampshire at the moment, as town officials have embarked on an controversial quest to quantify -- and then tax -- the beauty of their residents' vistas.
Washington Post Sep 29, 2005 What financial records to keep and how long to keep them
QUOTE: ...the following are suggestions about how long you should keep personal finance and investment records on file...If you made a nondeductible contribution to an IRA, keep the records indefinitely to prove that you already paid tax on this money when the time comes to withdraw.
Bankrate.com Sep 10, 2005 Strict Rules to Write Off Storm-Related Damage
QUOTE: The Internal Revenue Code allows owners of houses damaged by natural disasters to seek and obtain tax relief for losses not covered by insurance.
Washington Post Aug 17, 2005 Understanding prepaid tuition plans
QUOTE: Prepaid tuition plans are considered a resource, just like a scholarship. That means you'll see a dollar-for-dollar reduction in aid when you use these plans. Savings plans, however, are considered an asset.
Bankrate.com May 10, 2005 Readers' Counsel: Hang On to Records
QUOTE: different advisers recommend different timelines for tossing old files, and the only bottom line is your comfort level -- and available storage space. "These pieces of paper that have to do with your insurance or taxes are going to make a lot of difference if there's some reason they need to be found."
Washington Post Apr 14, 2005 No more Mr. Nice Guy: IRS swoops in for audits
QUOTE: ...IRS Commissioner Mark Everson has been barnstorming the country, telling journalists, politicians and tax professionals that the nation's tax cops are back on the beat. The number of audits rose nearly 19% last year. Audits of high-income taxpayers rose 40%.
USA TODAY Apr 13, 2005 Erosion of Estate Tax Is a Lesson in Politics: A Break for the Well-to-Do Becomes an Everyman Issue
QUOTE: Today, the House is expected to vote to permanently repeal the estate tax, moving the Mars candy, Gallo wine and Campbell soup fortunes one step closer to a goal that once seemed quixotic at best: ending all taxation on inheritances.
Washington Post Feb 08, 2005 Not all tax preparers created equal, so do some checking
QUOTE: ...strong demand for tax preparation also has attracted some unsavory characters. Some are incompetent, overlooking deductions and credits that could lower your tax bill. Others are crooks who manufacturer phony expenses in an effort to pump up your refund.
USA TODAY Feb 06, 2005 Tax-Free Combinations
QUOTE: ...imagine a couple who own an $850,000 house, which they bought for $50,000 many years ago. They'd now like to sell it and move into something smaller. By playing their cards right, they can exchange the house for $500,000 in cash and a $350,000 condo -- without paying tax.
Washington Post Feb 03, 2005 Whopper: George W. Bush
QUOTE: Bush probably tells himself that he's keeping his promise not to raise payroll taxes because he still refuses to consider increasing the payroll tax rate above its present level of 12.4 percent. But the Bush White House is clearly sending out signals that it is willing to expand the pool of payroll-taxable income by raising the current cap...
Slate Dec 24, 2004 Activists Target Jackson Hewitt: Tax Service's Loans Denounced as Rip-Offs
QUOTE: ...refund anticipation loans, which are offered by a number of companies, are often overpriced, laden with fees and marketed aggressively to those who can least afford them.
Washington Post Sep 20, 2004 High court must push back shameless march to tyranny
QUOTE: The question is: Does the Constitution empower governments to seize a person's most precious property - a home, a business - and give it to more wealthy interests so that the government can reap, in taxes, ancillary benefits of that wealth?
Daily Herald, The (Everett, WA) Apr 29, 2004 House Backs Extending Married Couples' Tax Cut
QUOTE: The House voted yesterday to permanently extend President Bush's tax cut for married couples, after rejecting a Democratic proposal to pay for the $105 billion extension by raising income taxes on the affluent.
Washington Post Feb 07, 2004 Scared? You Can Fight Back On Taxes; After Initial Shock, Some Owners Plead Case to Roll Back Rate
QUOTE: [A property tax assessment notice--Ed] is not the final word. Mistakes can and do happen, assessors said. Every local government has a process for appeals.
Washington Post Jan 09, 2004 Sick State Budgets, Sick Kids
QUOTE: While headlines continue to tell us how great the economy is doing, states across the U.S. are pulling the plug on desperately needed health coverage for low-income Americans, including about a half-million children.
New York Times Aug 24, 2003 Retired Lawyer Returns to Court With a Vengeance
QUOTE: Craig, 75, is leading a class-action lawsuit against the D.C. government, claiming that it used a flawed property tax assessment methodology that resulted in wildly unfair assessments for the past three years.
Washington Post May 26, 2003 Bush makes poor pay for military might and tax cuts: Schools and health lose out as US public services endure worst crisis since 1930s
QUOTE: While the US is at the zenith of its global power, its health and education systems would be grounds for a scandal in poorer countries.
Guardian Unlimited Apr 17, 2003 Church called exploiter of homeless
QUOTE: Local homeless advocates are accusing a Los Angeles-area church of recruiting homeless people to solicit donations for a battered women's shelter that may not exist, and then charging the recruits fees that eliminated the money they earned.
Sacramento Bee Feb 06, 2003 Sales taxes coming to a site near you
QUOTE: Several large retailers this week began collecting sales tax on Internet purchases.
CNET Jan 29, 2003 Debate rages on how much taxes rich should pay
QUOTE: It's an age-old American question — with an urgent new twist: Do the country's richest citizens owe an extra debt to society?
Seattle Times Sep 01, 2002 Challenging Property Taxes
QUOTE: Homeowners actually can fight city hall, by challenging the home-assessment values that local governments use to set their property taxes.
Wall Street Journal, The (WSJ) Aug 21, 2002 Negotiations Go Nowhere: Fehr's Memo Doesn't Help; Owners, Players Stand Firm
QUOTE: Baseball owners and players barely budged from a week-old stalemate in labor negotiations in New York yesterday...
Washington Post Aug 21, 2002 The Season of Hunger
QUOTE: Small organizations …often find that qualifying for the nation's largest summer feeding operation, the U.S. Department of Agriculture's Summer Food Service Program, is too costly.
60 Articles and Resources. Go to: [Next 10]
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