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Daily Archives: July 5, 2010
Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole
Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.
Payback
…
Posted in Economy, Government
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National Taxpayer Advocate Submits Mid-Year Report
National Taxpayer Advocate, Nina E. Olson, released her mid-year report to Congress identifying the priority issues the Taxpayer Advocate Service (TAS) will address during the coming fiscal year. The report expresses concern about the adequacy of IRS taxpayer service, particularly…
Posted in Accounting & Tax
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IRS Seeks Comments on New Form 1099 Reporting Requirements
In Notice 2010-51, the IRS invites public comment on how to most effectively carry out a law change that will require businesses to report a wider range of payments to contractors, vendors and others, usually on Form 1099. The new…
Posted in Accounting & Tax
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IRS Opens Dedicated Phone Line for Gulf Oil Spill Victims
The Internal Revenue Service announced the opening of a special telephone line for taxpayers affected by the Gulf oil spill.
Individuals who have questions about the BP payments or who are experiencing filing or payment hardships because of…
Posted in Accounting & Tax
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A War Against People Who Have NO Tanks! NO Planes! NO Ships!
Posted in Government, Ron Paul
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Six Tips for Students with a Summer Job
School’s out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working…
Posted in Accounting & Tax
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