Category Archives: IRS

Where’s the Refund

Posted on March 23, 2009 by Russ

A good barometer of when others will receive their California tax refunds is when I will receive mine. My return was filed on February 15th. The Franchise Tax Board has a webpage to check on the status of your refund. … Continue reading →

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Three More Questions from the Mailbag

Posted on March 22, 2009 by Russ

Three more questions from the mailbag this week. We’ll take a look at pensions, extensions, and putting money aside for 2009 taxes. First, a Californian asks: If I retire with a government pension (Calpers) from California, will I have to … Continue reading →

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When a Gambler Loses…

Posted on March 22, 2009 by Russ

The Tax Code is anything but fair towards gamblers. This is especially true for professional gamblers; they’re in one of the few professions where you can’t lose. Section 165(d) states that losses from wagering (gambling) transactions are only allowable up … Continue reading →

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Good News from the IRS on Madoff and NOLs

Posted on March 18, 2009 by Russ

This week the IRS handed some beleaguered taxpayers good news. First, the IRS announced that the new NOL provision (a five-year carryback) can be used for 2008 returns. This new NOL provision applies to certain partnerships and S Corporations. And, … Continue reading →

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Weekend Mailbag

Posted on March 15, 2009 by Russ

Three questions of interest this weekend. The first deals with moving to Nevada, the second with the requirement to report foreign financial accounts, and the third deals with deducting clothing. First, a reader asks: I want to move to Nevada. … Continue reading →

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IRS Street Addresses

Posted on February 24, 2009 by Russ

A reader emailed me today and said, “Why haven’t you posted your list of IRS street addresses this year?” Well, the answer is that none have changed. Still, it’s time again for the list. Most taxpayers use the Postal Service … Continue reading →

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Tax Season May Start In Mid-February This Year

Posted on January 12, 2009 by Russ

If you want to make an accountant unhappy all you need to do is tell him that tax season will be compressed. Funneling more work into fewer days does not brighten an accountant’s day. The IRS today officially recognized what … Continue reading →

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Do I Owe 5¢ Or Am I Owed 4¢?

Posted on January 3, 2009 by Russ

I’m sure I have lifetime employment, and this story is yet another confirmation of that. A Detroit attorney received a bill for 5¢ from the IRS. He then received a letter noting that he was owed a 4¢ refund, but … Continue reading →

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IRS Lockbox Changes

Posted on December 30, 2008 by Russ

One major IRS change is happening on January 1st: The IRS is closing its Dallas lockbox. If you currently mail payments to Dallas check the notice as to the new addresses in Charlotte that you will be sending your payments … Continue reading →

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2009 Required Distribution Relief

Posted on December 13, 2008 by Russ

Congress yesterday passed a law (and President Bush is expected to soon sign the law) which will give relief for Required Minimum Distributions (RMDs) in 2009. As Joe Kristan noted, this isn’t much relief. RMDs are required for tax deferred … Continue reading →

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