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Tax Carnival #47: Groundhog Day

How serendipitous that the first Tax Carnival of February 2009 falls on Groundhog Day. This annual event that, according to legend, tells us how much longer we'll have to deal with winter weather has some obvious connections to taxes.

First, every taxpayer feels a natural empathy with Punxsutawney Phil as he's dragged out of his safe, warm shelter and thrust before a throng of spectators under the unforgiving glare of TV camera lights. That same unease discomfort fear sweeps over most of us at some point during tax season.

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Then there is the Bill Murray movie, where his character relives the same Groundhog Day again and again. Taxes are definitely like that.

While a few new tax laws pop up every year, as I note in this story many tax provisions are simply recycled by lawmakers year after year.

So it's very fitting that this 47th Carnival of Taxes is our Groundhog Day edition.

We start with a recurring tax theme, economic stimulus proposals and payments.

Dan presents Making Sausage--or Stimulus Tax Legislation? It's posted at Tick Marks.

Stimulus madness also prompted Madeleine to offer No Quid? No Quo! You'll find it at Mad Kane's Political Madness.

Silicon Valley Blogger wonders, "How will people react to the stimulus tax cut?" Find out how she answers that question in No 2009 Economic Stimulus Check? How Obama's Stimulus Plan Affects The Middle Class. It's posted at The Digerati Life.

And Patrick presents How the Economic Stimulus Check Affects your 2008 Tax Return, posted at Cash Money Life.

Tax preparation always is a topic to revisit each filing season.

Ben presents Tax Preparation Services: Should You Use One? Find his answer at Money Smart Life.

One Family presents Online Tax Filing -- TaxAct, TaxCut, TurboTax -- User Experience Review, posted at One Family's Blog

Stephanie offers university students College Money Tip #6: Do Your Own Taxes, posted at Poorer Than You.

For filers a bit younger, Madison has info on When to File Kid's Taxes. This item is posted at Kids and Money

Free filing is a worthy tax topic every year.

Patrick is back, this time reminding us, "Military members are eligible for free tax preparation through their base services or through some commercial tax preparation companies." He elaborates in Free Tax Preparation for Military Members, posted at Military Finance Network.

Madison does a bit of the Tax Carnival double take with 6 Free E-File Options, posted at My Dollar Plan.

PT presents Use IRS Free File to e-File for Free (Even with a High Income). It's posted at Prime Time Money.

Groundhog_overweight Several special tax situations, just like the day in Bill Murray's movie, come around every year.

Walter presents Appealing the Filing of a Federal Tax Lien, posted at Wally's World of Taxes.

Estimated tax payments mean filers have to deal with taxes four extra times a year. If you don't do the added work, nickel tells us how you might face a Penalty for Paying Quarterly Estimated Taxes Late. It's posted at fivecentnickel.com.

And every four years, a presidential election with all its tax implicartions comes around. Gavin has some tax policy advice for the new Oval Office occupant in Aye, Barack Hussein Obama.  Now finish those thoughts..., posted at LVRG Blog.

Even, or perhaps especially, in a bad economy the tax implications of saving and investing are key considerations.

Pinyo presents Lose Money And Pay Taxes - Time To Get Rid Of Your Mutual Funds? You'll find details at Moolanomy.

Investing School presents 14 Facts About Form 1040 Schedule D for Investors, posted at Investing School.

Super Saver offers a perennial consideration in Choosing Between Taxable and Tax Deferred Saving Accounts, posted at My Wealth Builder.

If you opt for a retirement savings account, FIRE Getters presents IRA Eligibility Calculator, posted at FIRE Finance.

And you can be sure that saving is one of the things Savings Toolbox suggests in What Should You Do With a Tax Refund. It's posted at Savings Toolbox.

Tax cutting tips always bear repeating.

Wenchypoo is really getting into the spirit of our Tax Carnival theme with Timely Rerun: Timeless Moves You Can Make to Maximize Earnings and Minimize Taxes. It's posted at Wisdom From Wenchypoo's Mental Wastebasket.

Patrick presents Invest Some Time in Knowing Your Taxes, the first of a six-part series posted at One Million Bucks!

And Pragmaticsage's information is worth hearing again: Ten Ways to Save on Taxes. These, says PS, are "some of the more simple steps you can take to save on your over all tax bill." They're posted at Pragmatic Sage Weekly.

Many of the tax issues that come up on a regular basis are not confined to the United States. On the worldwide tax front we have Lubna, who lives in India and reports that "unlike the IRS which now seems to have a heart, our tax authorities have not yet developed a soft spot for the taxpayers. In fact, their collection targets are driving them up the wall." Read the details in Law Street in The Economic Times (January 2009), posted at Talking Tax.

And we close with Jim at Bargaineering, who presents "a review of a great book," The Truth About Paying FewerTaxes. No, I didn't ask Jim to submit that post to the 47th Tax Carnival, but I definitely thank him, not only for his kind words, but for putting them out there again via this venue.

1040icon_square With that, we wrap up Tax Carnival #47: Groundhog Day edition. Thanks to all the blogging contributors and to all you readers. We'll be back in two weeks on another holiday, Presidents Day.

Be sure to get your tax item in for that Feb. 16 Tax Carnival. Read our submission guidelines and then use our Blog Carnival submission form.

Comments

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Stephanie

Loved the movie Groundhog Day. Too bad the groundhog predicted more weeks of winter as I was ready for the spring.

Steve

Wenchypoo has some very good tax tips.

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