Last week at my other tax blog (2014)

It's that time again. Another new tax year has rolled around.

2014 came in with less fanfare than 2013's fiscal cliff falderal. But that doesn't mean that the tax world was calm.

The House and Senate left with much tax business undone. And although Congress agreed to a two-year federal budget so we won't have a repeat of last fall's government shutdown, there's still that pesky matter of the debt ceiling hanging out there.

As has been my practice, I'll be recapping what happened last week at my Bankrate Taxes Blog here at Don't Mess With Taxes each weekend (mostly Saturdays ... I hope!).

If you happen to miss those roundups, you can find the synopses posts listed here in this directory.

So without further ado, here's how my 2014 Bankrate tax blogging is going.

Dec. 30, 2014: 5 tax-saving moves you can make by Dec. 31, plus preparing for 2015 filing season
Dec. 24, 2014: Charitable gifts: a present for those in need and you at tax time
Dec. 17, 2014: Tax filing projections for the 2015 season and beyond
Dec. 14, 2014: Cutting IRS budget is a bad idea for taxpayers, U.S. Treasury
Dec. 5, 2014: Taxpayers, IRS await Senate action on 2014's tax extenders
Nov. 28, 2014: Factor sales and use taxes into your holiday shopping budget
Nov. 23, 2014: Tax crimes, in the U.S. and internationally
Nov. 14, 2014: Tax help for fire, ice and other disasters
Nov. 9, 20914: IRS taxpayer service outlook, short- and long-term, is bleak
Nov. 1, 2014: Best states for business tend to have no or low taxes
Oct. 26, 2014: IRS seizes honest taxpayers' assets under forfeiture program
Oct. 18, 2014: Payroll tax unnoticed by workers, but welcomed by Treasury
Oct. 12, 2014: Taxes account for a large part of cellular phone bills
Oct. 5, 2014: How do states tax the cloud? There's no consensus ... yet.
Sept. 27, 2014: Lying to your tax pro could result in a bad tax situation
Sept. 21, 2014: Getting old sucks. We can't stop Father Time, but we can prepare physically, emotionally and financially
Sept. 14, 2014: What do workers want? At some offices, it's tax-free lunches
Sept. 6, 2014: Georgia, Indiana and Uncle Sam work to stop tax refund fraud
Aug. 31, 2014: Checking out charities before you give
Aug. 22, 2014: Massachusetts unemployment overpayment calls are legit, but other telephone contacts across the country are tax scams
Aug. 18, 2014: Pot tourism's potential tax payoff for states with legal weed
Aug. 9, 2014: Both sides of Obamacare tax subsidy fight appeal earlier court rulings, one all the way to the Supreme Court
Aug. 3, 2014: States see electronic cigarettes as a new tax source
July 25, 2014: Obama says corporate tax inversions are 'gaming the system'
July 17, 2014: Tax preparer oversight goes to court again: AICPA vs. IRS
July 12, 2014: IRS employee suspended for Obama reelection effort
July 4, 2014: Fireworks, flags and taxes for July 4th
June 28, 2014: Congress wants to consolidate the many education tax breaks
June 22, 2014: Save space and trees: Digitize your tax records
June 14, 2014: More taxpayer rights, fewer tax haven company contracts
June 7, 2014: Highest property tax bill in the U.S. comes to $1.275 million
June 1, 2014: Debate continues about tax havens and punishment fairness
May 23, 2014: Tax holidays on tap for hurricane prep, Energy Star appliances
May 18, 2014: Rich, poor, middle class: Where are you on the income scale?
May 12, 2014: IRS getting sneakier in tracking tax cheats
May 2, 2014: Representatives, Senators fall over each other in rush to ban bonuses to IRS employees who owe federal taxes
April 27, 2014: Property taxes pose burdens, predatory loan possibilities
April 19, 2014: Some of VP Joe Biden's Social Security is taxed. Is yours?
April 12, 2014: State taxpayers are big e-filing fans, too
April 6, 2014: 3 popular refundable tax credits: Are they worth it?
March 29, 2014: Tax scams ramp up as filing deadline nears
March 21, 2014: Bet on it, IRS missing out on many NCAA basketball wagers
March 18, 2014: College bowl tax audits and Colorado pot taxes
March 10, 2014: Filing season 2014: Death, taxes, root canals and refunds
Feb. 28, 2014: Ways and Means chair says his tax reform plan not DOA
Feb. 22, 2014: Olympic tax break effort in Illinois
Feb. 15, 2014: Don't call us, says the IRS. Go online instead for tax help
Feb. 8, 2014: Are tax refunds at risk as we teeter on debt ceiling ledge?
Feb. 3, 2014: Bitcoin taxes and winter weather write-offs
Jan. 25, 2014: Don't miss out on the tax deduction for charitable donations
Jan. 18, 2014: Obamacare tax credit e tax credit upheld by court.
How much can you get?
Jan. 12, 2014: Important January tax dates, deadlines
Jan. 4, 2014: Amazon now collecting sales taxes in 19 states

You also can find links to the most recent Bankrate posts (and the RSS feed) over there in the right column of the ol' blog. Just scroll down a bit.

If you are really hankering for more tax bloggings, you can peruse the archive of 2011, 2012 and 2013 posts at my other tax blog. Wow, I have been rambling on all over the place for quite a while!

There's also a link to my original Bankrate tax blog, Eye on the IRS, as well as one to Don't Mess With Taxes posts in which I reference my other tax blog(s).

Thanks again for reading, here and there!

Today's Tax Tip

Take a pre-disaster inventory — Disasters strike year-round and all across the country. Just ask Texans who were hit in Feb. 11, 2021, with a freakishly cold winter storm. The best thing we can do is prepare. Part of that is taking a pre-disaster inventory of your household goods. It will help you with your insurance claims and, if the catastrophe is declared a major disaster major disaster, claim your losses as a tax deduction. (Feb. 24, 2021)
The 2021 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. While we're waiting for the 2021 calendar pages to flip and fill up with timely tax tidbits, check out 2020 (and earlier) tax years' advice.

COVID-19 & Taxes

Coronavirus has wreaked havoc
on the 2020 tax season.
These three Coronavirus (COVID-19) and Taxes pages have details:
March-July 2020,
August-December 2020, and
January-… 2021

All About Kay

OK, some about Kay

Kay Bell — Native Texan (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

My Other Accounts

Tick ... Tick ... Tick

Tax Season 2021 is here!
Happy New Tax Year! Are you ready to file your 2020 tax return? Me neither. With all the delays last year due to COVID-19, it seems like that prior tax season just finished. But time and taxes wait for no taxpayer. The Internal Revenue Service, which started 2021 by delivering more coronavirus economic relief payments, says it will be ready for our returns. So let's get prepared, too. The monthly tips and reminders a little further down this column should help us focus on our taxes and make the filing of them by go more smoothly. Also keep an eye on the countdown clock just below. It will help us keep track of how much time we have until Tax Day on April 15, just in case some of us want to put things off until the final hours. .
Note: I'm in the Central Time Zone, so adjust accordingly for where you live.

Time for Tax Tasks

Welcome March!
It's the last full month
of high tax-filing season.

How did this happen so quickly?!?
Back in simpler tax times, all we had to worry about was whether to attack our tax returns like a lion.

Now, however, health concerns have complicated things. The persistent COVID-19 pandemic and associated precautions are making lambs of many filers. That's OK. Health and safety always rank ahead of taxes. When you are ready to get to work on your taxes, regardless of your March tax animal persona, these tips are aimed to help you cope with your tax obligations under these new and sometimes frightening times.

March 1: The easiest first tax-filing step is to gather all the tax statements you'll need to fill out your 2020 return. Even with slow snail mail delivery, you should have most by now. Also check your email box for notifications that tax documents can be downloaded from your employer's or other statement issuers' websites.

March 4: Official tax statements aren't the only things you'll need to help you file. Other documents have information that's relevant to your tax return. So are the answers to some basic life questions. This tax checklist can help guide you as you work on your return. Don't forget about your previous tax return. That prior tax year filing is a good template, especially if your tax life hasn't changed that much.

March 8: Tax reform enacted in 2017 greatly increased the standard deduction amount. That's meant that even more taxpayers use these set amounts when they file. But maybe last year you had large medical expenses that could mean you'd be better off itemizing. The standard deduction amounts are shown directly on Form 1040. But before you take that easy deduction route, examine the issues that will help you determine whether it's better to claim the standard deduction or itemize.

March 10: Coronavirus vaccines are rolling out, albeit slowly, and some pandemic precautions are being lifted. That means some restaurants are opening for a limited number of diners. Other eateries are continuing with curbside pickup meals and deliveries. Whether you're able to enjoy table service or still relying on food brought to your house, remember to tip your server or delivery person.

If a tip isn't included in your food delivery charge, click the image above to calculate how much to tip the person who brought it to you.

As for servers who are still on the job, remember that your tips are taxable income. If you at least $20 in job-related gratuities in January, you need to account for them today by using Form 4070 to report your tips today to your employer.

March 15: This date is more than a literary reference. The Ides of March apply each year to many business taxpayers. Today is the tax filing deadline for partnerships (Form 1065 with K-1 schedules) and S corporations (Form 1120S).

March 17: Erin Go Bragh and
Happy St. Patrick's Day!

via GIPHY

Enjoy this day, but don't trust lucky charms to get you through tax filing season. Double check your 1040 to ensure you haven't overlooked any tax breaks or made any common filing mistakes

March 20: Spring has sprung!

That means it's time for spring cleaning. Your gifts won't help with your current tax return, but they could pay off next year as charitable donation deductions. Even better, for 2020 and 2021 tax year filings, you don't have to itemize to get some tax benefit from your generosity. A new COVID-19 inspired charitable deduction law allows cash donations up to $300 to be claimed directly on your 2020 Form 1040. Next year, the no-itemizing-needed deduction is $300 for single taxpayers and $600 for married couples filing jointly.

March 23: Last year, the COVID-19 toll on investments prompted lawmakers to waive required minimum distributions (RMDs). They are back for 2021 and although the RMD trigger age now is 72 instead of 70½, the withdrawals from tax-deferred retirement accounts still are due on April 1. No fooling. Note, too, that if you were taking RMDs before the law change, the return of the RMD deadline still applies even if you haven't yet turned 72.

March 27: With a few March days to spare, you're ready to finish your filing. The IRS recommends you use tax software and e-file your return. That will speed up the processing of your 1040 and, if you're due a refund, get the money on its way to you sooner. The IRS also suggests you use Free File, the online no-cost tax preparation and e-filing partnership between the IRS and Free File Alliance.

The official Free File site at IRS.gov has been accepting returns since Jan. 15. You can use one of this year's nine participating tax software options if your adjusted gross income is $72,000 or less, regardless of filing status.

March 31: Wow! March is over? Time really does fly when you're having tax fun. Or even if it's not so much fun. If you need filing help but can't afford to hire a tax professional, look into Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) options. These sites across the nation are staffed by IRS-trained volunteers who can help low-to-middle-income and older taxpayers prepare and e-file their returns for free.

Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

Don't forget your state taxes!
Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms Fiesta! page.

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Kudos Et Cetera

National Association
for Women in Communications
Winner, Best Personal Blog
2012, 2014 & 2017
Plutus Financial Bloggers Awards
Celebrating the Best
in Personal Finance
Winner, Best Tax Blog
2011 and 2013
Lifetime Achievement Nominee 2020

I gotta tell ya ...

AKA Disclaimer:
I am a professional journalist who has been covering tax issues since 1999.
I am not a professional tax preparer.
The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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March 2021

Tell it to the Hill

While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, use the federal legislator locator above to find just who on Capitol Hill should hear your concerns. And for matters tax or otherwise closer to home, you can find info on your state and local elected officials at USA Gov.

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