Saturday, May 31, 2008

WHAT’S THE BUZZ – TELL ME WHAT’S A HAPPENNIN’

* It seems the reports of Betty Hayes’ death have been greatly exaggerated, according to Kay Bell’s post “'Dead' Taxpayer Waiting for Rebate Check” at DON’T MESS WITH TAXES. When Betty asked the IRS why she hadn’t received her “stimulus” rebate check yet she was told it was because she was dead!
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* Kay Bell also writes the EYE ON THE IRS tax blog for Bankrate.com. She answers the question I posed in my post “Hey Dude, Where’s My Rebate?" at May 28th’s “Rebate Whereabouts Redux”. As I expected, according to the IRS -
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In general, the [rebate] payment schedule only applies if your return was received and the IRS finished processing it before April 15. If you filed your return on time, but close to the April 15 deadline, the IRS may not have finished processing it before April 15”.

* GINA IS BACK! After a too long absence, the result of “technical difficulties” and the demands of the tax filing season, Gina Gwozdz has returned to the blogoshpere providing excellent TAX TIPS. Welcome back, Gina!
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* Roni Deutch provides her list of “
Top 10 Ways to Support the Economy with your Stimulus Check” at her TAX HELP BLOG.
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Roni has recently joined the herd of those “pay pennies on the dollar” tv ads hawking Offer In Compromise consulting. While I have found Roni’s blogs to be helpful and correct I must advise you that anyone who promises they can get you “off the hook” with your Uncle Sam for “pennies on the dollar” is lying.
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* Congratulation to Dan Meyer on the third anniversary of his fine blog TICK MARKS (it has nothing to do with Lyme Disease – it covers accounting, tax and personal finance).

* Paul Caron’s TAX PROF blog, recently named one of the top 50 law school blogs, reports on IRS statistics for the just-finished 2008 tax filing season in his post “2008 Tax Filing Season: E-filing Up 12.0%, IRS Web Site Visits Up 44.5%”.

* Joe Kristan of THE ROTH AND COMPANY TAX UPDATE BLOG provides us with “THE TRUTH ON EXPIRING PROVISIONS”.

BTW - many sincere thanks to Joe for spreading the word about my new tax blog ASK THE TAX PRO.

* The MD Taxes Network, CPAs specializing in health care professionals, has developed a 2-page “pdf” worksheet for valuing non-cash charitable contributions, based on the published values of used merchandise sold at the thrift shops of the Salvation Army and Goodwill Industries. Click here to download the worksheet.

* FYI – today’s question at ASK THE TAX PRO has to do with the safe harbor rule for avoiding the penalty for underpayment of estimated taxes.

TTFN

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