JRS

Redding, Ca 2nd sunniest spot in U.S. Sundial Bridge (far shorter but a million dollars more than the Missouri River foot bridge and just as much controversy) End destination for some premier fly fishing rivers and streams 7/23/1892 lynching of the Ruggles Brothers

"You are apparently not familiar with the budget process as most recently practiced by the federal government. Unlike the states, which aren't allowed to run deficits, the U.S. Treasury can spend an unlimited amount of money without regard to whether the money actually exists or not." Even continuing printing it after we run out of trees. Oh, I forgot, we can recycle.

:angry: We are writing to inform you that Fidelity will mail your 2008 Tax Reporting Statement no later than February 28. Fidelity is taking this action to reduce the number of "corrected" tax statements that you could receive. Please note the following: Fidelity is mailing selected tax statements in late February because certain third-party tax information will not be available in time to be included in the tax statements mailed by the new IRS February 15* deadline. The third-party information includes data for certain non-Fidelity mutual funds, unit investment trusts, and real estate investment trusts. Fidelity is able to mail your tax statements in late February because we received a mailing deadline extension from the Internal Revenue Service

"Where did you see this article?" http://www.accountantsworld.com/DesktopDef...hdate=1/29/2009

Jack Daniel's Single Barrel

"If you're thinking of buying a home, there could be a big bonus for you in the economic stimulus bill that's now before Congress. Among its many provisions is a $7,500 tax credit for first time home buyers. The House passed the $819 billion stimulus plan, including this tax credit, in a vote late Wednesday. The Senate may vote on its version of the bill some time next week. Technically, the stimulus bill is actually changing the terms of the $7,500 tax credit that was issued as a part of the Housing Recovery Act, which Congress passed last summer. That legislation required that the tax credit be repaid over 15 years, making it more of a no-interest loan. Not surprisingly, the measure had little impact on the market. The stimulus bill now under consideration would make that tax credit a true credit that doesn't need to be repaid. Many in the housing industry believe this credit could do a lot to jump start the moribund housing market. "Our economists have studied the effect [of the credit] and they say there could be a 10% increase in home sales if it's implemented," said Mary Trupo, a spokeswoman for the National Association of Realtors. "It gives people who are sitting on the fence or who have inadequate funds for closing costs an incentive to act now." A 10% increase would yield an extra half million sales this year. Who qualifies To be eligible, buyers cannot have owned a home for the past three years, and the new home has to be used as a primary residence. The credit phases out as income rises above $75,000 for singles and $150,000 for couples, and disappears entirely at $95,000 and $170,000, respectively. Applying for it is easy, or at least as easy as doing your income taxes. Just claim it on your return. That's it. No other forms or papers have to be filed. Both the Senate and the House versions of the new act remove the requirement that buyers repay the credit. The Senate bill applies retroactively to any purchase completed between January 1, 2009 and the end of August. The House version is also retroactive to the start of the year, and expires at the end of June. As long as buyers don't sell for at least 36 months, they keep the money. And the credit is refundable, meaning that it can be claimed even if the amount of the credit earned exceeds the buyer's tax liability. So even if your total tax bill comes to just $5,000, you can still qualify for a full $7,500 refund. The housing industry has been pushing this idea for many months, arguing that first-time homebuyers are the key to boosting home sales. First time buyers who purchase from existing homeowners free those sellers to trade up to bigger, better houses. Buyers beware But the credit has its drawbacks, according to Bob Williams, a spokesman for the Tax Policy Center, which gave it a mediocre C+ grade in its Tax Stimulus Report Card. Williams points out that buyers should beware that they won't actually receive any refund for a home purchased this year until after they file their 2009 income taxes in April 2010. And he argues that the credit is poorly targeted because it goes to every first-time buyer, not just the ones who wouldn't buy without it. So, it merely provides a windfall for many people who would have purchased anyway. And in the end, a $7,500 tax credit, regardless of the details, does nothing to address the issue that's holding most buyers back - the suspicion that prices are going to keep falling. "As long as people are uncertain about what markets are going to do, this won't help much," said Williams. "It's not enough to change that." The industry would like to make the tax credit stronger by making it available to all homebuyers, not just first-timers. And it's pushing to have the credit last through the end of the year, at least. "By the time it's implemented," said Trupo, "there could be very few months left to act."

Are Bud and Miller still domestic? Oh, I forgot about Molson/Coors. I like micro brews better anyhow.

If you had stated in your post with a little more clarity YOUR position, you would not have taken KC's reply so offensively. If you scan through other posts and replies by HER, you would realize, for the most part, she can and is a savior for the majority of us.

Thanks Tom.

I could be wrong, but reading the instructions for part 3, I see no need to fill it out. On part 2, if I enter $1400 on line 14a, then $1400 on line 15, I get no penalty. She did use the distribution for "unreimbursed medical expenses" did't she?

After reading some of the questions on the general public tax forums, I could get them back millions!!!!!!!!!!! It seems that the effort of the media and Hollywood to dumb down our fellow citizens is working. Where has common sense gone. "Can I claim my boy friend, he didn't work last year?"

In its first Super Bowl advertisement in five years, H&R Block invokes well known prose regarding the certainty of nothing but death and taxes. Unless of course, you're talking about Abe Vigoda. Vigoda, whose "Godfather" and "Barney Miller" roles helped make him famous, was erroneously declared dead as early as 1982. Since that time people continue to ask the same question: is Abe Vigoda dead or alive? The answer according to H&R Block? Very much alive and helping bring humor to the company's 30-second Super Bowl spot by playing the role of Death. The ad touts H&R Block's Second Look® product and will serve as a friendly reminder that tax season is upon us and everyone needs to ensure their taxes are done right. The current economy makes professional tax preparation more important than ever as many Americans are taking a closer look at their finances; not only curbing spending but trying to find extra money anywhere they can. H&R Block's people can help.

The IRS also says (paper return) you can write RRC next to line 70 (1040) and they will figure it. Efile, "the software will figure"!!

When I was locked out, late at night, I sent them an email and they responded the next day. The account was reset and I needed to use my activation code as the password.

I thought the "Demons" at........ were after us again........

Thanks, Deb. Yeah, it is pretty slow over there.

I need it too. The only 8582 on the IRS web site, I could find is for 2007.

I had a problem with dividends, taxable on Fed, partially exempt on state, transferring anywhere. Sent my note in last night and: " Thank you for your submission. After review, the line 9 adjustment for US Int in Div amounts was inadvertently removed from this worksheet for 2008. We will update this worksheet to include this adjustment and we will ship out a fix in the next couple of days. A similar fix must also be made on the CA Sch CA 540NR." Thanks to you KC

Other than the property tax check off on the standard deduction, for those not itemizing, the following has made the rounds. As you can see, this is a plan that is being proposed. "Democrats on the House Ways and Means Committee have released a tax plan that they hope will provide additional economic stimulus to taxpayers who have yet to demonstrate the effectiveness of last year's stimulus package. The new plan includes a $500 tax cut for single taxpayers and $1,000 for married couples. Rather than sending checks, the tax cut is expected to be achieved by reduced withholding, thus positioning this stimulus attempt as one focused on working Americans, as opposed to the 2008 plan which included many citizens who receive benefits but not earned income. This benefit would phase out with incomes of $75,000 for single workers and $150,000 for married workers. The current $1,000 child tax credit would become a refundable credit with no upper cap on income, and new college tuition credits are included in the plan. An expansion of the controversial Earned Income Tax Credit is also included. The current credit available to first-time home buyers is a credit that must be paid back. The new legislation would take away the requirement for repaying the credit. The House plan calls for additional write offs to small businesses investing in capital expenditures over the next two years. As the Wall Street Journal reports, this type of bonus depreciation has been tried in the past with limited success. The plan includes an option for certain businesses to carry back net operating losses for five years instead of the current two-year option. Companies that benefited from the TARP (Troubled Assets Relief Program) bailout plan would not be eligible to participate in the new carry back rules. Additional measures include a job credit to businesses who hire unemployed veterans or disconnected youth, i.e. unemployed young adults age 16 to 25 who are no longer attending school. The Senate is expected to offer a tax stimulus bill of its own, and then the wrangling begins as the House and Senate attempt to reach a settlement on one bill that can be presented to President Obama." -------------------------------------------------------------------------------- AccountingWEB.com Jan-21-2009 Categories: Taxation, Legislation, SB Zone News, Income Tax News, Tax Zone News, AW.com Top News Story Times read: 1634 Add this news feed to your site for free! -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- --------------------------------------------------------------------------------

For years, the people of the REAL northern California, above Sacramento, have had the idea of forming the "State of Jefferson." Parts of southern Oregon have shown interest in joining. With our main "cash" crop legalized, we could fund our budget with no problem!

"Hmm, the 540 refers to page 14 of the instructions. Page 14 of the instructions says to complete the worksheet on page 58. The instructions only go to page 20. Last year the instructions went to page 60. Looks like CA is missing some form instructions there..." Here is the link to the whole 68 pages. http://www.ftb.ca.gov/forms/2008/08_540bk.pdf Your figures are right, so there must be a glitch in transmitting or receiving, probably the latter, since our state is in such a mess. But that's OK, Arnie is going to put sales tax on our pets, when we take them to the vet. That and a higher gas tax will fix everything.

Sadly she is the exception! I, too, took the basic course years ago and had the same experience. She was great. She was definitely the exception. I worked one season and was so frustrated at the owner/manager, who, quoting Jim Cramer," KNOWS NOTHING", I left and did not work in taxes for a couple of years.

You can go to Tax Warehouse and check the box in front of your standard deduction clients then click on reports and click print marked clients. The only problem you will get is seven pages with a line for each client! It will print a list, but it will print all columns in tax warehouse. You might try Accts Receivable, it will print two pages. I can't find an easier way. To save paper, print it PDF.

Notice 2009-13 provides interim guidance regarding IRC section 7216 and Treas. Reg. Section 301.7216-2(o), relating to the ability of a tax return preparer to disclose and use statistical compilations of anonymous tax return information in support of the preparer's tax return preparation business without the consent of the preparer's taxpayer clients. The notice expands, during 2009 only, the ability of tax return preparers to disclose statistical compilations, subject to specific requirements to ensure anonymity and other restrictions.

- wait until the news programs get a hold of that mother of 3 barely able to survive as it is and now California is with holding money / food from her children. That will stir up an out cry. Sadly, our local paper will go out and find a young lady, slightly over weight, drinking her Pepsi and smoking her cigarette in her very cluttered and very small apartment, with her three children in the background. They have done it before and all the sympathy that should have went out, went right down the drain with the number of subscriptions the paper lost.