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Keep Uncle Sam cranky!

  • It's no wonder Uncle Sam is not very happy here. His vault is empty.
    Don't Mess With Taxes aims to keep him cranky by providing tax and personal finance tips and advice that will put more money in your bank account, not the government treasury.

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July 2009

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Tax Calendar

  • April 15 has come and gone, but millions now have until Oct. 15 to file their 2008 returns. And millions more have 2009 tax planning to do.
  • There are plenty of year-round tax dates to keep track of, as well as lots of tax-saving moves you can make between Jan. 1 and Dec. 31.
    Find them here each month.


    monthly tax moves
  • July 1: You're halfway through the year. Now's the perfect time to make some midyear tax moves that could cut your 2009 IRS bill. If your life has changed significantly since the beginning of the year, adjust your withholding to more accurately reflect your new life, and tax, situation. Just give your employer a new W-4.

    July 4: Happy Independence Day! Celebrate your independence from future tax hassles. Hire a tax professional now to help get your tax life in shape while there's still plenty of time to plan.

    July 10: Does your job include tips? If so and you received $20 in tips in June, use Form 4070 to report them today to your employer.

    July 17: Are your kids at day camp while you work? You might be able to use that expense to claim the child and dependent care credit to cover some of the costs.

    July 21: It's been summer for month. How's your air conditioner holding up? If you need a new one, make sure it's energy efficient; that way on your 2009 tax return you can claim a tax credit for 30 percent of the cost, up to $1,500. Other energy-saving home improvements also qualify. Get the details at EnergyStar.gov.

    July 31: If you kids are older and working summer jobs, make sure they understand their tax responsibilities. You also can help your youngster get a nest egg head start by helping him or her open a Roth IRA with some of those summer earnings.

    Small Business Tax Calendar -- July: Important filing, deposit and record keeping dates your company needs to know.

Carnival of Taxes

  • Where we party like
    it's 1040 ... Form 1040!


  • Check out the latest
    Carnival of Taxes,
    #55: Tax Fireworks


    Want to be a part of the next one on August 3? Just review the Tax Carnival guidelines
    and then send
    your tax musings, mumblings,
    even music to the
    Tax Carnival submission page
    .
  • Catch up on prevous
    Tax Carnivals in our archives.

Tax Terms

  • Earned income -- It's just like it sounds: Compensation you receive from work, including wages, salaries, commissions, tips and self-employment endeavors. Learn more...
  • Unearned income -- Money that is not gained by work or delivery of a service or product. It's most well-known source is from investments. Learn more...
  • Tax rates/brackets -- The U.S. tax system is a progressive one, in which the greater the earnings, the higher the tax rate. Learn more...
  • See these and other tax terms
    in the perpetually updated
    Tax Glossary.

Cool tax quotes

  • The income tax has made
    more liars out of the American people than golf has.

    -- Will Rogers, humorist
  • I'm proud to pay taxes in the United States; the only thing is,
    I could be just as proud for half the money.
    -- Arthur Godfrey, comedian
  • Intaxication: Euphoria at getting a refund from the IRS, which lasts until you realize it was your money to start with. -- Author unknown, from a Washington Post word contest
  • "Internal Revenue Service: The world's most successful mail order business.” -- Bob Goddard, writer
  • "If you are truly serious about preparing your child for the future, don't teach him to subtract. Teach him to deduct." -- Fran Lebowitz, writer
  • "The United States has a system of taxation by confession." -- Hugo Black, Supreme Court Justice

But wait! There's more!

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    the posts shown on this page, Arrow_right click here to go to the Don't Mess With Taxes archives page. There you can browse earlier blog items by the month they were posted or by their category.

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I gotta tell ya ...

  • AKA Disclaimer:
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It’s provided for your private, noncommercial, educational and informational purposes only. It’s not a recommendation or endorsement of any company or product. I strongly suggest that when it comes to filing your taxes, you get additional, professional, paid-for guidance from your accountant and other financial advisers who are familiar with your individual circumstances. In other words, don't blame me!

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« Tax to-do's after saying 'I do' | Main | Calling it quits »

Saturday, July 07, 2007

Not so innocent, tax or otherwise, TV wives

I try to avoid gender stereotyping, mainly because many of the attributes traditionally assigned to women are not applicable to me.

Gender_symbols_2 I love most sports. I hate shopping, except for groceries. I'd rather wander the aisles of a Lowe's or Home Depot than any high-fashion mall. I long ago gave up routinely applying makeup; the choice gives me an extra half hour of sleep in the mornings.

On the distaff side, I know that all men aren't pigs. In fact, I have as many male friends as female ones.

That's why I was so distressed by the creation of the Spike television network. Despite some legitimate syndicated program reruns and an occasional decent movie, the channel's bread and butter is pandering to the worst in men. Not a big surprise from a channel that airs "Girls Gone Wild" infomercials for at least six of its programming day hours. (I guess that's how Joe Francis is paying his alleged tax-evasion legal bills.)

But today, I find that one of the premier "women's" channels deserves a spot on my "you've got to be kidding" list.

Oxygen, founded in part by feminine crusader Oprah, has a program called "Snapped." It's about women who commit murder, and although I'm a sucker for cop shows, I've never seen it. Apparently, I'm in the minority.

An article in today's New York Times says "Snapped," which made its debut three years ago, remains among Oxygen's highest-rated shows, "having had an instrumental role in recasting women's television away from its celebrations of victimhood to its new fetish for female aberrance. ("Snapped" is rivaled in popularity on Oxygen only by "The Bad Girls Club," a reality show whose title precludes the need for any explanation.)"

Xx_chromosomes_color_2_2 Women, ladies, girls! Please don't go there!

Don't travel down television's blatantly exploitative road!

Despite my efforts not to typecast the genders, I admit I always had a bit of hope that we with dual X chromosomes were at least a little bit superior.

Alas, I guess the whole of the human species likes to wallow in the muck, at least when it comes to cable television.

Tax help for abused spouses: From what I can tell, "Snapped" doesn't delve into the financial and tax lives of the women it chronicles. But data show that in many tax cases, it is women who pay a big price when their husbands cheat on joint tax returns.

The IRS has a remedy for such spouses, husbands as well as wives. It's the agency's Innocent Spouse program. Here's the official explanation:

Many married taxpayers choose to file a joint tax return because of certain benefits this filing status allows. Both taxpayers are jointly and individually responsible for the tax and any interest or penalty due on the joint return even if they later divorce. This is true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns. One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse.

Innocent Spouse relief provides an opportunity for a spouse to be relieved from the joint debt under certain circumstances. If a taxpayer believes that only his or her spouse or former spouse should be responsible for the tax, the taxpayer can request relief from the tax liability.

To expedite this assistance, the agency last week issued a redesigned Form 8857, Request for Innocent Spouse Relief, that it says will help reduce follow-up questions and reduce the burden on taxpayers.

According to the IRS, the new form will ask more questions initially, but collecting critical information early in the process will mean faster processing of the request. The redesign combines and streamlines what previously was a two-form process. The new, single form should be easier to understand and complete, as well as help taxpayers learn about the process.

An estimated 30,000 follow-up letters annually are expected to be eliminated thanks to the new Form 8857. In addition to helping taxpayers seeking relief from a spouse's tax troubles, the IRS says the new process should enable the agency to respond more quickly and lower the government's administrative costs.

Additional information on Innocent Spouse situations and relief is available at this IRS Web page.

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