2011 Income Tax Thread...04/17/12 Due Date
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Links, Questions, Comments, Rants, Raves...
  1-5-12, 12:45am | Post
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April 17 Is Tax Filing Deadline This Year
The IRS will accept e-file and Free File returns beginning Jan. 17. This post has been edited by kar522: 1-5-12, 8:32am |
Nana Bargainshare  
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1-5-12, 8:30am | Post
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This post has been edited by snafu4me: 1-5-12, 8:31am |
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1-11-12, 9:27am | Post
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TaxSlayer.com Military Edition
All Active Duty Military prepare and e-file both Federal and State for Free! Step by Step Deduction Finder Life Events Wizard All Major Forms and Schedules Real Time Tax Refund Calc Free Email Support Prepare & e-file both Federal and State for FREETaxS layer.com salutes the men and women of the United States Armed Forces, and is honored to perform its patriotic duty by offering this FREE service. Offer |
Nana Bargainshare
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1-17-12, 7:37am | Post
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Now Active
 QUOTE QUOTE TurboTax Freedom Edition:
Prepare and eFile your federal taxes for FREE * Get FREE online federal tax preparation from the most trusted name in tax software * Prepare and e-file your return at no cost * You may also qualify for free state tax filing I qualify! Start now. |
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1-30-12, 12:59pm | Post
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Nana Bargainshare
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2-5-12, 7:22am | Post
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Upfront, if you're a clueless Obama luver that hold the belief money come out of your paycheck so you can collect future unemployment checks, your wrong. That 'evil' corporation or business owner which provide that paycheck cover those costs. Given the U.S. House of Representative leadership position to avoid non-fund new spending, continuing to extend unempoyment for the so-called '99 weekers' seems like a moot point currently.
Jobless? You still owe income tax QUOTE The previous exemption of the first $2,400 in unemployment benefits from federal tax is over. Job-search costs, training for a new job and relocation expenses may be deductible.
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2-5-12, 7:22am | Post
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double post
This post has been edited by kas: 2-5-12, 7:22am |
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2-6-12, 2:12am | Post
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Tax Season Brings New Federal Rules
Guidelines seek to close the tax gap, include new form to fill out |
Nana Bargainshare
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2-9-12, 11:44am | Post
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More new stuff...
What's New for Federal Income Taxes QUOTE The standard mileage rate applicable to 2011 for business use of your vehicle is increased to 51 cents a mile (55.5 cents a mile after June 30, 2011). The 2011 rate for use of your vehicle to get medical care or to move is increased to 19 cents a mile (23.5 cents per mile after June 30, 2011). In addition, beginning in 2011, you may use the business rate for a vehicle used for hire, such as a taxicab.
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Nana Bargainshare
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2-9-12, 8:54pm | Post
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You either must be making good money and saving it or had a rich uncle to take advantage of these tips. If you're not a glutton for puishment it might be better to let the professionals handle the grunt work. Now a friend use to do tax season work for her (CPA) BIL during her first marriage. Countless morons use to count in for help with the 1040 form and claim they gave thousands to their local BLT church. Unless they had cancel checks or receipt(s) from church officials, she tell them no way.
Now the county has a place where rich folks can donate art work for the public to view and the result is a nice saving on what they need to pay Uncle Sam. Note it may seem great one can go into business, write off most of that new equipment and not need to show a profit. However, the IRS will tolerate wannabe Kentucky Derby winners for so many years and usually wherever the business is physically located, the taxman will want to collect taxes on the (depreciated) value of equipment each and every year. 5 sneaky tax deductions This post has been edited by kas: 2-9-12, 8:57pm |
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2-13-12, 1:54pm | Post
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If a financial instution recently mailed you something that looked like a W-2, be assure the Federal Government knows everything on that form. For those who never made real money and blew the paycheck by Monday, there are program and non-profit help. IMHO, there's no excuse to own a house in your golden years, if monthly income and savings doesn't keep up with taxes, mainteance and utilities bills.
IRS targets retiree tax cheats QUOTE A new report says more than $4 billion in retirement income is not reported. But a confusing system may be more to blame than tax evasion.
This post has been edited by kas: 2-13-12, 1:54pm |
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2-13-12, 5:00pm | Post
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Where's My Refund? The IRS Can't Say
The refund-tracking tool on the agency's website is not reflecting the status of returns that have been filed. The problem is with the website tool, and refunds have not been delayed. |
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2-16-12, 10:15pm | Post
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2-17-12, 7:19am | Post
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Nana Bargainshare
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2-17-12, 4:50pm | Post
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I just watched a story on a 100 year old Texan that goes to the gym twice a week, takes the dw out dancing and flirt with the women. The guy probably out lived a few of his doctors.
QUOTE When a gym membership is deductible Can you deduct health club or gym dues as a medical expense? The Internal Revenue Service says "you cannot include in medical expenses health club dues paid to improve one’s general health or to relieve physical or mental discomfort not related to a particular medical condition." However, several IRS revenue rulings over the years confirm that if a doctor diagnoses you with a specific medical condition and prescribes workouts at a gym or participation in a weight-loss program to treat or mitigate the condition, defect or illness, the dues may be deductible. Conditions such as such as obesity or hypertension, or a specific physical or mental defect or illness, fall under this exception. Just follow these three rules if you plan to deduct your health club or gym dues: A doctor must diagnose you with a specific medical condition, physical or mental defect or illness. You need to have written documentation of this diagnosis. You must use the health club facilities to treat the specific condition, defect or illness, as recommended by your doctor. You cannot have belonged to the gym or health club before the diagnosis. If you would have joined the health club or gym whether or not you had been diagnosed with the condition, then the expense is not deductible. What if a chiropractor recommends you take up golf to strengthen your back muscles in order to alleviate chronic back pain? The same criteria would apply. http://money.msn.com/tax-tips/post.aspx?po...1d-3aa56f341d24 This post has been edited by kas: 2-17-12, 4:51pm |
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2-19-12, 9:39am | Post
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IRS Announces Nationwide Delay Of Tax Refunds
CHARLESTON, S.C. (WCIV)-- If you're one of the early birds who got your taxes done already and are looking forward to that tax refund, you may need to wait a little longer. A computer problem has caused a nationwide delay with tax refunds being released. According to the Internal Revenue Service most of the refund affected are the ones filed between February 2 and February 7. Normally tax payers can just go online and check the status of their refund but even the "Where's My Refund" page of the IRS website is not correct. Up to 60% of all refunds filed during this time period are delayed affecting millions of taxpayers nationwide. The IRS says this problem is temporary and they are working to resolve the problem. If you have a question about your return, you can call the IRS at 1-800-829-1040. This post has been edited by kar522: 2-19-12, 9:39am |
Nana Bargainshare
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2-24-12, 12:07am | Post
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2-27-12, 11:52pm | Post
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3-13-12, 1:55pm | Post
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IRS Expands Aid to Those Who Can't Pay
Penalties have been eased for the unemployed, and installment-payment options have been expanded. The IRS even has videos to explain the program. |
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3-20-12, 6:54am | Post
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TaxMasters Bankruptcy Leaves Clients In The Lurch
IRS Flags Almost 2 Million Tax Returns in Anti-Fraud Efforts This post has been edited by kar522: 3-20-12, 12:16pm |
Nana Bargainshare
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4-10-12, 9:21am | Post
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One week to go...I haven't yet begun...
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Nana Bargainshare
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4-13-12, 2:46pm | Post
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Some states Department of Revenue are allowing extra time for filing.
States waiting for your money, too QUOTE Later filing dates: Here are the states that don't use the IRS filing deadline: Hawaii tax returns are due April 20. Delaware and Iowa residents must file by April 30. Virginia taxes are due May 1. Louisiana taxpayers get until May 15 to file their returns.
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4-14-12, 11:30am | Post
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Nana Bargainshare
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4-17-12, 6:23am | Post
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Finish or extend....
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Nana Bargainshare
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4-17-12, 7:30am | Post
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QUOTE (kar522 @ 4-17-12, 9:23am)  Finish or extend.... Use a Form 4868 if you or your CPA can't get the 1040* based tax return complete today. Typically, the taxpayer must have paid 90% of last year federal taxes by 12/31/11. Also if you do owe, enclosed payment with your Form 4868. Finally, based on my experience at an IRS lockbox, to include handling 4868 returns, go over your check, etc. before sealing the envelope, avoid using a #10 envelope (I taped my fair share of pages back together), USPS certified mailing is a joke on the backend and lastly, the Department of Revenue will reject any check issused by the Federal Government that is used to pay taxes. |
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8-2-12, 8:57pm | Post
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Nana Bargainshare
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