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Tax Carnival #112: Super Bowl of Taxes

Have you recovered from Sunday night's Super Bowl XLVII?

I'm still enjoying the Baltimore Ravens' win. As regular readers of the ol' blog know, the hubby and I spent many years in Greenbelt, Md., and we took lots of great trips up the Baltimore-Washington Parkway to Charm City.

We also were among the Maryland voters who approved state funds for the Ravens' stadium.

M&T_Bank_Ravens_Stadium_DoD-photo-via-Wikimedia M&T Bank Stadium, home of the Baltimore Ravens, via Wikimedia

Yeah, yeah, I know. The public paying for a rich owner's toys is generally a poor investment. But it was football. For Baltimore. And we loved "Diner" and were stunned when the Colts were spirited out of town in the dead of night back in 1984.

So with that tax connection, welcome to the Tax Carnival #112: Super Bowl of Taxes. I don't have as cohesive of a tax game plan as Ravens head coach John Harbaugh did, so the carnival might get a bit crazy.

We kick off the carnival with some 2012 tax return filing and 2013 tax planning tips.

Glen Craig notes that the IRS no longer mails out tax forms like the 1040. He looks at Where Can I Get IRS Tax Forms (or Where Can I File Free)?, posted at Free From Broke.

Sam looks at how to Find the Best Tax Preparation App, posted at

Penny Thots notes that head-of-household is an attractive filing option for many taxpayers. She looks at eligibility requirements in Can You Claim Head of Household? It's posted at Penny Thots.

Pauline Paquin presents 13 money resolutions for 2013: Max it out! It looks at maxing at tax breaks and is posted at Reach Financial Independence.

Thomas F. Scanlon presents 4 Easy Ways to Start Your 2013 Tax Planning and Save Money posted at Borgida & Company, P.C.

The tax world often throws its own flags at taxpayers, sometimes even when they aren't breaking any rules.

Emily clears up some misconceptions about tax benefits for married people and itemizing deductions at The Marriage Penalty and Itemizing Taxes, posted at Evolving Personal Finance.

John Schmoll notes that when the payroll tax holiday ended at the start of 2013 some families were prepared and some were not. He looks at 5 Easy Ways to Save Money Lost Due to the Payroll Tax Increase, posted at Frugal Rules.

Super Saver keeps detailed records of charitable gifts with receipts to show the IRS in case of an audit. Get details at Charitable Donation Record Keeping, posted at My Wealth Builder.

Deductions and credits are the tax equivalent of first downs, moving your tax return down the field, er form, to score a smaller tax bill.

Kurt Fischer says the average Earned Income Tax Credit in 2011 was $2,200. Might you qualify for this tax break on your current filing? Find out at 2012 EITC, posted at Money Counselor.

Amanda says there are several other scenarios where you can potentially claim a mileage tax deduction. Details at Mileage Deduction for Volunteering, Moving, and Medical Expenses, posted at My Dollar Plan.

Everything Finance looks at the paperwork necessary to receive the Retirement Savings Contribution Credit, also known as the Savers' Credit. Find out more in Filing Taxes: Retirement Savings Contribution Credit, posted at Everything Finance Blog.

Kristen has info for folks who are their own bosses in What is the Self Employed Health Insurance Deduction? It's posted at My Dollar Plan.

For our halftime diversion, we take time for an international tax issue.

Lubna Kably notes that transfer pricing issues dominate litigation world over and her home, India, is no exception. "Perhaps in India the litigation is much more pronounced since transfer pricing has also been introduced for domestic transactions between related parties," says Lubna. "The legislature has gone beyond what the apex court had prescribed. With the Finance Bill around the corner, taxpayers are hoping for remedial provisions." Read more at Transfer pricing on home turf, posted at Law Street-The Times Of India.

Welcome back to the Tax Carnival's second half. We escaped without a blackout, thanks to tax tips that shine much needed light on tax issues.

Michael Kitces says effective financial decision making requires accounting for both economic and tax consequences. Unfortunately, though, many people are confused about which tax rate to use. He explains which one to use and when in Understanding Marginal Tax Rate Vs Effective Tax Rate And When To Use Each, posted at Nerd's Eye View.

Peter says criminals have come up with plenty of scams to access your tax return money. One way to avoid being a victim is to File Your Taxes Early to Avoid Being a Victim of A Popular Tax Scam, posted at Bible Money Matters.

Call Me What You Want, Even Cheap admits to having floated the government money for years. "I don't mean through bonds either," says Call Me. "I am talking about getting a tax refund every year." Get the costly tale at Are You Still Lending The Government Money? It's posted at Call Me What You Want, Even Cheap.

Bill Smith says that California's new state income tax is prompting a lot of high-earning citizens to consider moving to a new state. Details at Businesses and Phil Mickelson Consider Bailing On California, posted at 2012 Tax-Free Tax Filing Options.

Scott Skyles looks at Tax Payment Requirements on Forgiven Mortgage Debt, posted at Mortgage 1A.

With the game tax clock ticking down, several Tax Carnival team members have some tips on retirement savings.

Michael says while Roth IRAs seem to get all the love nowadays, an argument can be made for having a healthy mix of traditional and Roth funds in retirement. Find out about the mix in Traditional + Roth = Tax Diversification, posted at Financial Ramblings.

Rohit says returns in your Roth IRA can be reduced by the fees the financial institution charges. He looks at these fees and other criteria to note when selecting a Roth IRA account provider in No-Fee Roth IRA Accounts, posted at The Money Mail.

Megan Russell has found some fiscally fit felines in Financially Savvy Kittens on Retirement Plans, posted at Kittenomics.

And that's it! Ravens, and thanks to the contributors to Tax Carnival #112: Countdown to Filling, taxpayers win!

Tax carnival iconThanks to all the bloggers who submitted posts and especially to the Tax Carnival's best cheerleaders, all you readers.

The next carnival will be Monday, Feb. 18 (I promise!).

Be a part of that Presidents Day collection of tax posts (and tax-only items please; the guidelines page has details) by sending your item via the Carnival of Taxes submission page.

Social media fans can send Tax Carnival posts via Twitter (I'm @taxtweet; please use hashtag #TC113) or post them on Don't Mess With Taxes' Facebook wall.

Or if you prefer email, send your tax blog item to me at


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thank you for including my post!

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Well, it's football, who could not approve the state tax for the stadium? It is like not giving candy to a very whining and crying child. Thanks for sharing this, very lightly.

Emily @ evolvingPF

Thanks for including my post!

Kurt @ Money Counselor

Thanks for including my piece on the 2012 EITC, and thanks for your time in putting the carnival together!

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