Obama's budget, or how Washington took all the romance out of Valentine's Day
State issues with estate taxes

Tax Carnival #81: We ♥ Heart ♥ Taxes

Cupid It's Valentine's Day.

It's also the day that the Internal Revenue Service starts processing tax returns that have been on hold with the tax agency upgraded its computers to reflect the tax law changes enacted back in December.

So of course today's Tax Carnival #81 is We ♥ Heart ♥ Taxes.

OK, so we don't really love, or as the phrase says "heart," taxes. But we do love lots of good tax information and advice and you'll find plenty of that in today's Tax Carnival.

We start with a timely item.

Khaleef presents Tax Filing Delay Means Valentine Gift For 50 Million Taxpayers! It's posted at Faithful With A Few.

Lots of tax law love ♥ ♥ ♥
Craig notes that changes in the tax laws in 2010 mean a number of differences on this year's IRS 1040 tax form. Take a look at them in Changes on the 1040 IRS Tax Form this Year…How Does It Affect You? It's posted at Free From Broke.

Ken tells up about 2009 Tax Benefits Extended in 2010, posted at Spruce Up Your Finances.

Money Walks presents Defining some Tax Deductions, posted at Money Walks.

Ben presents some tax deductions and credits to look for this year in Best Tax Breaks 2011, posted at Money Smart Life.

BackTaxesHelp.com presents Education Tax Credits: Credits to Offset the Cost of Higher Education, posted at Back Taxes Help.

Jeff Rose presents Changes to the Child Tax Credit for 2011, posted at Good Financial Cents.

Feeling the tax filing love ♥ ♥ ♥
Michael says some individuals may be exempt from filing a tax return this year. Find out if you're one of them at You Might Not Have to File a Federal Tax Return This Year! It's posted at The Dough Roller.

Money Thinker presents a question every college student has asked at some point, Do I file dependent or independent? It's posted at Money Thinking.

Madison DuPaix notes there are a number of different 1099 forms and chances are, you'll encounter one or more when you're filing your taxes. Read about them in What is a Form 1099? It's posted at My Dollar Plan.

Business hearts and kisses ♥ ♥ ♥
Robert presents Sell on Amazon in California? You?d Better Collect Sales Tax, posted at The College Investor. While Robert's reminder is specific to the Golden State, all small business/online sellers need to pay attention to this area.

Steve presents 2011 Tax Information For Small Businesses And Self-Employed Individuals, posted at 2011 Tax.

CreditCardGuru says that credit card interest was deductible until Oct. 22, 1986. As for today's taxes, check out Is credit card interest tax deductible? It's posted at Credit Card Forum Blog.

In love with tax-favored retirement ♥ ♥ ♥
Flexo says while you may want to contribute as much as you can towards your retirement, there are restrictions to just how much your 401(k) can get every year. Get the details in  401(k) Contribution Limits for 2011, posted at Consumerism Commentary.

Rosette notes that deciding where to invest your IRA money in is critical to protecting your nest-egg for retirement. She offers some suggestions in Best IRA Company, posted at Qwoter.

LaTisha D Styles presents Financial Success for Young Adults: How to Retire with Tax Free Money, posted at Financial Success for Young Adults.

Sharing the state tax love ♥ ♥ ♥
PT notes that nine states don't levy income tax on their citizens. Details on how they collect revenue and whether it pays to be a resident are in States Without State Income Taxes, posted at PT Money.

Be my organized Valentine, er, taxpayer ♥ ♥ ♥
Silicon Valley Blogger presents 7 Simple Tax Organization Tips To Use All Year Round, posted at The Digerati Life.

Mike Piper contemplates whether if you keep old tax returns on your computer, how you can keep them both backed up and protected in the event of computer theft. Find out more at Protecting Your Private Files, posted at Oblivious Investor.

Gotta love that tax help ♥ ♥ ♥
Sun presents IRS App Lets You Check Refund Status on Smartphones, posted at The Sun's Financial Diary.

Tax Debt Help provides Free Tax Preparation Possibilities for Your 2010 Income Tax Return, posted at Tax Debt Help.

Miranda says if you have a tax preparer, when you're prepared with your documentation, filing is more pleasant. She offers details in What to Bring to Your Tax Appointment, posted at Personal Dividends.

Ryan says the military Homeowner's Assistance Program offers a lifeline for thousands of military members affected by an untimely relocation, but will service men and women pay a tax price for the help? Find out at Is The Military Homeowner's Assistance Program Taxable? It's posted at The Military Wallet.

Steve says discharging tax debt with bankruptcy is difficult and in many cases not possible. He discusses the topic in Strategies for Settling Tax Debt, posted at 2010 Taxes.

No love lost for tax audits ♥ ♥ ♥
Ryan offers tips for what to expect if your tax return is flagged for an audit, along with ways to prevent your tax return from raising red flags, in Will Your Tax Return Be Flagged for an Audit? It's posted at Cash Money Life.

Sticking with that scary tax subject, FMF says the key if you get an IRS audit notice is don't panic! He offers tip in What Should You do if You Get an IRS Audit Letter in the Mail? It's posted at Free Money Finance.

Love and taxes know no boundaries ♥ ♥ ♥
Tom reminds Canadian readers that the RRSP deadline is coming up soon. Before you make a RRSP contribution or RRSP withdrawal, Tom offers some RRSP Basics: RRSP Contribution and RRSP Withdrawal, posted at Canadian Finance Blog.

Staying with retirement issues for our neighbors to the north, Jim Yih presents RRSP and Tax Planning Tips, posted at Retire Happy Blog.

Lubna Kably tells us that India stands on the threshold of GST, but transition is a painful phase. India's finance bill is to be tabled in February, one wonder's how it will pinch the common man. She offers insight in Law Street - Economic Times (Jan 2011) - At what cost? It's posted at Talking Tax.

John Keeble has info for U.K. readers: What To Do If You Have Lost Your UTR Number. It's posted at Unique Taxpayer Reference Number.

And we close out this tax love fest with a post that takes its theme from another beloved holiday.

Robert D Flach offers us The Twelve Days of Tax Season, posted at THE WANDERING TAX PRO.

And with that, we bring Tax Carnival #81, We ♥ Heart ♥ Taxes to a close.

1040 icon_square Thanks for reading and a special thanks to all the contributors. We'll be back on Feb. 28 with another Tax Carnival. Be a part of it by submitting a tax post (and tax-only items please; check the guidelines for details) via the Blog Carnival page.

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Sam Ritter

Albert Einstein - you might have heard of him lol - once said that taxation is inexplicable. Just a general thought. Maybe federal; but I can understand State and local.


It would be nice to have a top ten listing of the states that dont leverage their residents with state taxes. The kinds of places we would be looking towards for retirement...

Florence R. Cummings

I like the love and taxes know no boundaries


Thanks for hosting!

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