Tag Archives: IRS

A Few Observations #1

From Bernard Golberg’s blog: Did you hear the one about how President Obama, upon taking office, learned that the economy was in even worse shape than he thought – so in order to save money, he had to fire 17 … Continue reading

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First-Time Homebuyer Tax Credit Expiring Soon

As part of the stimulus package earlier this year, a 2009 law enables first-time homebuyers are eligible to take a tax credit on the larger of $8,000 or 10% of the purchase price of the home if the home is … Continue reading

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Why American Democracy Is In Trouble

Using the latest available year — 2007 — we know the following facts about people who filed Federal tax returns: Top 1% of Household Incomes Top 1% are those who reported incomes of $410,000 or more Top 1% paid 40% … Continue reading

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IRS Eases Up on Homeowners

WSJ Tax article ————————————————————————————— IRS Eases Up on Homeowners By TOM HERMAN IRS officials say they are speeding up efforts to provide relief for homeowners in financial distress. The Internal Revenue Service has developed an “expedited process” to make it … Continue reading

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Think you’re a trader? IRS may disagree

WSJ Tax article —————————————————————— Think You’re A Trader? IRS May Disagree SEPTEMBER 3, 2008 By TOM HERMAN Even if you make hundreds of stock-market trades a year, that doesn’t automatically make you a trader — at least in the eyes … Continue reading

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House-hoppers may suffer

WSJ Tax article —————————————————————— House-Hoppers May Suffer Under New Tax Rules Housing Package Makes It Harder To Exclude Gains AUGUST 6, 2008 By TOM HERMAN Life is getting tougher for some people who own more than one home. Part of … Continue reading

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