* Trish McIntire of OUR TAXING TIMES reminds us to beware of telephone calls and emails supposedly from the IRS. The IRS will never initiate contact via email. Do not respond to unsolicited emails claiming to be from the IRS. If you receive a call from someone claiming to be an IRS agent or representative be wary - and never give them any bank or other account information! As Trish recommends, if you are told you are entitled to a refund tell them to mail it to you (the IRS has your address – so don’t give it to anyone over the phone).
* According to the Small Business Taxes and Management NEWS AND TIP OF THE DAY blog (June 25th entry) “it appears that work on alternative minimum tax reform legislation won't be taken up until after Congress returns from the August recess. The latest proposal would exempt taxpayers earning less than $250,000 from the AMT, while those earning more than $500,000 would see an increase in their AMT liability.” Let’s hope that Congress doesn’t leave us hanging until the last minute on an AMT fix, be it temporary of permanent, like they did with the tax extenders for 2006.
* The New Jersey Treasury Department has begun to mail out the 2006 NJ Homestead Property Tax Credit/Rebate application to non-senior and non-disabled homeowners. For more information check out the NJ UPDATE Page of my website.
What in the world was I thinking?
I am off to Williamsburg VA to attend the National Society of Tax Professionals Special Topic Workshop on “Meeting the Challenges of the 1040 Schedule C” – leaving in a couple of hours. You can’t imagine how thrilled I am to get out of New Jersey. I will be returning on the first of July.
How did I ever think I could finish all the GD extensions (for which I have all the necessary information “in hand”) before leaving? What a "cafone"!
When I return from VA I will be hopping on the GD extensions with the hope of having nothing but “red files” left when I arise on July 15th. I will try to squeeze in some time to post a trip narrative and a report on what I learn at the workshop.
“Talk” to you when I get back!