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Tax Carnival #121: TaxtoberFest 2013

Munich revelers at Oktoberfest_Oktoberfesti-DE_dapd_72556513_2Oktoberfest is a 16-to–18-day festival held in Munich each year, running from late September to the first weekend in October.

It originally was a celebration of the Oct. 17, 1810, marriage of Crown Prince Ludwig to Princess Therese of Saxe-Hildburghausen. The citizens of Munich were invited to attend festivities held on the field in front of the city gates. Today, more than 6 million people from around the world attend Munich's Oktoberfest every year.

TaxtoberFest is a one day event celebrating tax news and blog posts. It has been celebrated here on the ol' blog on the first Monday of October since 2006

We don't have a special TaxtoberFest beer. Nor do we serve any special dishes.

But we have lots of tax treats. So willkommen! Crank up the oompah-pah band and let's get to the tax party at Tax Carnival #121: TaxtoberFest 2013.

Matt Becker notes that "when people talk about the financial benefits of home ownership, one of the big points they typically make is that the interest paid on the mortgage is deductible. This is only semi-true and in any event is not really the big win that many people claim it is." He elaborates why this tax break is not always all it's cracked up to be in Is the Mortgage Interest Deduction For Real? It's posted at Mom and Dad Money.

Michael Kitces examines the Affordable Care Act feature that can significantly reduce the out-of-pocket cost for health insurance by effectively capping premiums. It applies widely to individuals with income as high as $46,000 and to a family of four earning as much as $94,200! He provides details in Understanding The New Premium Assistance Tax Credit, posted at Nerd's Eye View.

Oktoberfest with accordian playerAmanda says there are quite a few people still waiting on their tax refunds from returns filed earlier this year. They, and you, might be wondering How Long Can the IRS Delay Your Tax Refund? It's a particularly relevant question now in light of the government shutdown. The details are posted at My Dollar Plan.

Michael (another one!) also looks at health care, with his post on 2014 Health Savings Account (HSA) Contribution Limits. Details on these plans to which you can make tax deductible contributions are at Financial Ramblings.

John Schmoll offers us 4 Simple Ways to Make Filing Taxes Easier Every Year. The info, posted at Frugal Rules, could come in handy to folks facing the Oct. 15 extended filing deadline.

Emily says graduate students often receive "courtesy letters" to inform them of their fellowship income instead of real tax forms. She presents us a sample letter deconstructed and more in What Is a Courtesy Letter and Does It Mean I Don't Have to Pay Taxes? Find out at Evolving Personal Finance.

Bill Smith offers Details On Obtaining Prior Year Tax Information From The IRS, posted at 2012 Tax to 2013 Tax.

Bavarian flag carrier during Munich Oktoberfest 2013 parade2_Octoberfest-DESteve presents some tips on Surviving An IRS Audit, posted at 2009 to 2013 Tax.

Kristine McKinley reminds older individuals with jobs that Part Time Work Could Mean Your Social Security is Taxable. The why and how to deal with it is posted at Making Sense of Social Security.

And since the theme of TaxtoberFest is inspired by an iconic German celebration, we wrap up this month's Tax Carnival with some tax tidbits from international bloggers.

Gavin R. Putland presents Maximalist 'fiscal devaluations' for Greece and Australia. His look at payroll tax and Value-Added Tax is posted at the eponymous Gavin R. Putland.

Lubna Kably examines tax issues in the realm of transfer pricing, which is causing multinational companies operating in India much strife. Transfer pricing adjustments carried out by tax authorities in India cannot be dubbed as tax evasion tactics adopted by multinational companies, considering that many of such demands are overturned at the appellate level. Also, safe harbor norms in the realm of transfer pricing have been introduced in India, but much is to be desired especially since onerous documentation requirements continue. The related articles are posted in the Times of India - Law Street.

Edward Webber presents Tax Code 944L, which details how United Kingdom taxpayers' tax allowance for 2013 has increased. The details are posted at TaxFix Feed Update.

And with that, we toast the completion of October's Tax Carnival #121: TaxtoberFest 2013.


Danke schön to all the contributors and especially to all y'all for reading.

Tax carnival iconThe next carnival is scheduled for Nov. 4, the always fun or at least interesting annual election Tax Carnival.

Be a part of that collection of tax posts -- and please, please, please send tax-only items; the guidelines page has details and you also can review previous carnivals to see what made the cut -- 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 #TC122) or post them on Don't Mess With Taxes' Facebook wall.

Or if you prefer a more direct method, email your tax blog item to me at taxcarnival @


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