Implicit support for continuation of the first-time homebuyer credit?
IRS not bringing in as much tax money

Tax Carnival #73: Summer Dog Days 2010

The dog days definitely are here.

Dog basset hound fan The arrival of August in Austin also has finally brought us our first triple-digit thermometer readings of 2010. I'm not complaining,though, since at this time last year we had already suffered through more than 40 100-degree-or-plus temperatures.

Taxes, however, remain dogged any time of the year. So this 73rd Carnival of Taxes is our annual Dog Days of Summer edition, with lots of top dog tax information and advice to help keep you out of the the tax collector's dog house.

It's no surprise that the tax blogosphere has been gnawing on that particular bone about the tax cuts set to expire at the end of 2010.

Super Saver tells us Taxes are Going Up - No Surprise, posted at My Wealth Builder.

If you have a sizable estate, notes CFP Jeff Rose, then the return of the estate tax next year could mean you might pay a whole lot more tax to the IRS. Details are in What's Going on With the Estate Tax For 2011? It's posted at Good Financial Cents.

To help you find out what you need to know about how the expiring tax cuts might affect your retirement, Madison DuPaix presents How to Take Charge of the Bush Tax Cuts, posted at My Dollar Plan.

Shetland sheepdog_sheltie (2) Preferential tax treatment of investment income is set to expire if Congress doesn’t act by the end of the year, notes Dividend Growth Investor. That has many investors wondering whether dividend stocks will be negatively affected by the tax hike. Get some insight in Will higher taxes bring dividend stocks down? It's posted at Dividend Growth Investor.

The possible expiration of the Bush tax cuts is one of the reasons, says Tradingsphere, why stocks may be headed down over the next 12 months. The full discussion is in A Rough(er) Patch Will Soon Develop, posted at Stock Tips.

What exactly will happen to our potentially higher taxes? Kim Luu presents Where Will Our 2011 Federal Tax Dollars Be Spent? Find out at Money and Risk.

Tax troubles nipping at your heels are the focus of several of our Dog Days Carnivalistas.

Having the tax collector attach your property is never good but it gets worse, notes Dan Meyer, when Taxpayer May Not Be Properly Notified of IRS Liens, posted at Tick Marks.

Bulldog (2) Steve notes that the IRS has the ability to garnish your wages through a levy if you do not respond to outstanding tax debt notices in a timely manner. Details in IRS Garnishment, posted at 2008 Taxes.

When you face such tax issues, don't be afraid to get professional tax help.

Find some suggestions are in Tax Problem Resolution, posted at 2009 Taxes.

Michael tells us How to Get IRS Tax Relief from Back Taxes or Unfiled Tax Returns. It's posted at Tax Resolution University.

We get international tax news from Lubna Kably, who tells us "It appears that India is gearing up to introduce CFC Regime. However, introduction of these without measures such as underlying tax credit, participation exemption or even parent-subsidiary directives will not augur well for Indian companies having overseas subsidiaries or planning overseas growth." Details at Law Street - Economic Times (July 2010) -CFC Rules, Keep it simple, posted at Talking Tax.

And several contributors take a look at some special tax situations.

Pomeranian Are raising taxes the only way to fix social security, or do you think raising the age to 70 would do it? BWL has some answers in Fix Social Security by Changing Retirement Age to 70? It's posted at Christian Personal Finance.

Michael presents What is a W-8 Form? It's not your standard tax form, but for those overseas it's a must file. Details at The Dough Roller.

Have you wondered How is a Sole Proprietor Taxed? Mike Piper explains at The Oblivious Investor.

Tax Debt Help presents Top Tax Deductions for a Small Business, posted at Tax Debt Help Blog.

When it comes to some tax breaks, Robert D Flach reminds us that It Ain't Necessarily So! The full story is posted at THE WANDERING TAX PRO.

Finally, if you've wondered why the IRS refund processing is so, Jacqulyn Richey says part of the reason could be because it's dealing with Prison Inmates Claim the Tax Credit, posted at Las Vegas Real Estate News.

Pembroke welsh corgi And that brings an end to Tax Carnival #73: Dog Days of Summer 2010, if not to the hot, sticky days still ahead of us.

Thanks to all this month's contributors and to all y'all for reading.

And here's hoping that when we return on Sept. 6 for the next Tax Carnival, while the tax news will still be hot, the days will be cooler! Be a part of the tax fun by sending your tax post (and tax-only items please; check the guidelines for details) to the Blog Carnival page.

Basset Hound/fan courtesy Austin Family Eldercare
Other dog images courtesy American Kennel Club

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