Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
Happy Birthday to misc.taxes.moderated
11 years ago today became operational! I'm going to need a backup moderator in case something happens. My older son left home. My child bride is to busy and my younger son is completely disinterested....
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IRS Announces Installment Agreement User Fee Increases for Some Taxpayer
IRS Announces Installment Agreement User Fee Increases for Some Taxpayer This news release supersedes News Release IR-2006-176, dated Nov. 13, 2006. IR-2006-196, Dec. 28, 2006 WASHINGTON - Beginning...
 
CCH TAX NEWS for December 29, 2006
CCH TAX NEWS for December 29, 2006 FEDERAL NEWS IRS Issues Further Guidance on Telephone Excise Tax Refunds (Notice 2007-11) Posts Examples of How to Claim Extenders on its Website; Government Offices...
 
Can a CEO elect to have a salary less than the minimum wage?
I've read a few times that CEOs elect to draw a salary of $1 now and then (of course they probably get a $3 million bonus). I assume that the CEO still qualifies as a full time employee for things...
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WorldCom Settlement Question
How is a payment for settlement of WorldCom claims to be handled as far as US income tax is concerned? The original investment was sold at a loss in previous years, and a capital loss taken. I can see...
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Treatment of a stock settlement
I own shares of a publicly traded company, some of them are in an IRA, and some are in a conventional account. I have owned these shares for several years. A lawsuit against this company, for material...
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How to handle 2006 reimbursed expenses not yet invoiced.
My clients reimburse minor expenses I incur while doing genealogy research for them (parking, reproduction..). Until I invoice them and receive payment, these expenses appear on my [Quicken] records...
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CCH TAX NEWS for December 28, 2006
CCH TAX NEWS for December 28, 2006 FEDERAL NEWS Final Regulations Increase User Fees for Installment Agreements (T.D. 9306) Disposition Occurred at End of Foreclosure Litigation; Full Amount of...
 
deductions and AMT
I will have some significant AMT relating to large legal fee deductions. I will have substantial income associated with the legal fee deductions next year. Is there any way I can put off taking the...
 
sold inherited house
Parent transfered house to son for $1 in 1990. Son sold in 2006. Would the house basis be the FMV on the date he bought or really looks like inherited? Thanks.
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No State Tax withheld!
My employer is in the state of Indiana and has withheld Federal Income taxes all year. He has not withheld any state tax all year because I live in Ohio. I know Indiana has a reciprocal agreement with...
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IRA Fund Distributions After age 59 1/2, and before April 1 of year following age 70 1/2
I know that for conventional IRA's on which no taxes have been withheld, that I must begin removing a prescribed amount of funds before 1 April of the year following the date of becoming 70 1/2. Since...
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How is accrued interest on a bond handled?
On December 15th, I buy a bond which will pay $425 interest on February first. I pay $10500 for the bond and $322 accrued interest. How is the $322 handled this year? How is the $425 handled next...
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FICA withholding question
I own a company in which I earn well over the SS limit. If I pay myself salary in a second company, can I be exempt from withhold SS if I don't draw any salary until after I'm over the limit in...
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Federal LD Tax Refund - S Corp?
How would I handle the one time Federal long distance tax refund for the S-Corporation owned by my wife and me? All income from the corporation is reported by us on our 1040 return. I have the...
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