Rep. Mick Mulvaney is going to have to answer some nanny tax questions if he hopes to become President-elect Donald Trump's budget director. Rep. Mick Mulvaney speaks to some of his South Carolina constituents on last September's Constitution Day. (Photo by Erik B. Corcoran via Twitter) The South Carolina Republican was elected to Congress in 2010 as part of the midterm Tea Party wave. Since then, the man whom some have called a debt warrior has been a major player in the conservative Freedom Caucus and has focused on ways to cut federal spending. He probably should have focused on... Read more →


The online sales tax list for the world's largest online retailer gets longer. Amazon will start collecting state sales taxes on shipments to South Dakota on Feb. 1 and to Wyoming on March 1. If, however, you buy from other online vendors who ship to those states, your bills might not contain a sales tax charge. The deals each state struck with Amazon and announced this week are specific to that company only. Wyoming tax law in the works: While the decision by the Seattle-based online giant to start collecting sales taxes is welcomed by officials in South Dakota and... Read more →


On this Dr. Martin Luther King Jr. federal holiday, the last MLK Day that Barack Obama will serve as U.S. President, the 44th commander in chief will once again spend part of his afternoon volunteering. President Obama and younger daughter Sasha helped out during an earlier MLK Day at DC Central Kitchen. (Click image to see more at Corporation for National and Community Service.) The national holiday honoring the slain civil rights leader has evolved into a day of service. The Obamas take that role seriously. In the past, the president and his family have volunteered at kitchens that feed... Read more →


It's been 10 years since the Internal Revenue Service Whistleblower Office was created to reward those who turn in tax cheats. It's been a pretty good decade. In particular, notable advances were made last year, according to the Whistleblower Office's fiscal year 2016 annual report. More rewards, less money: The Whistleblower Office awarded more than $61 million to 418 whistleblowers in the last fiscal year. That's a 322 percent increase from fiscal 2015, in which only 99 total awards were paid. The number of whistleblower claims filed last fiscal year also was up 6.4 percent from those submitted the prior... Read more →


Millions of taxpayers prepare their own returns using tax software. Even the Internal Revenue Service encourages this do-it-yourself approach with Free File. So it's no surprise that many tax professionals are looking at ways to retain and add to their client base. Unfortunately, crooks know this, too, and are taking advantage with a new phishing scam in which they target accounting and tax preparation firms and pose as potential clients. Instead of looking for help in completing their returns, the cybercrooks are trying to gather sensitive information from tax professionals that the criminals then will use to file fraudulent tax... Read more →


The early part of any new year demands we be tax multitaskers. As we're getting ready to file last year's returns, we also must start planning moves that affect this year's taxes. For the next few days, though, it's time for those of us who pay estimated taxes to focus on 2016. We have to make our final 1040-ES payment to close out that tax year. According to the usual Internal Revenue Service calendar, that final fourth quarter payment is due Jan. 15. But calendar quirks this year mean a change in that deadline. The 15th is on Sunday and... Read more →


Tax filing season 2017 really is here. Some folks have already filed their tax year 2016 federal return (soooo jealous!) even though the Internal Revenue Service won't start processing the submitted forms until Jan. 23. Others of us are still waiting for the tax documents we need to fill out our forms. If you're in the still-waiting group, now's a good time to consider just what you will need to accurately and easily complete your return. To help, here's the 2017 version of the ol' blog's tax filing checklist. It's a good idea at the start of each filing season... Read more →


President-Elect Donald Trump is feeling charitable again. This time, it's Uncle Sam who's the target of his largesse. President-Elect Donald Trump and his three older children (Eric, Ivanka and Donald Jr.) get ready to meet the press this morning (Jan. 11) to discuss Trump Organization business deals after The Donald is sworn in on Jan. 20. (Photo by Evan Vicci via TPM Twitter post) During the almost hour-long press conference at Trump Tower in Manhattan (Trump's first Q&A with the media since July 16, 2016, when he was on the campaign trail), a tax attorney for the incoming 45th president... Read more →


Tax filing season is about to start. Most tax returns -- almost 90 percent, according to the Internal Revenue Service -- are filled out using tax preparation software. A tax preparer helps a client file her taxes. (U.S. Army photo) But most of those electronically prepared 1040s actually were completed by tax professionals. No kidding. Of the almost 132 million e-filed returns last year, around 60 percent were filed by tax professionals. DIY vs. professionally prepared taxes: Yes, the do-it-yourself e-filing segment is growing. IRS statistics from 2016 show that the self-prepared segment of e-filers increased by more than 5... Read more →


I'm late blogging today (Monday, Jan. 9) because I spent the day with my Mom. All those errands my Mom and I run mean that I have to fill up my car before heading home. Unfortunately, pump prices are not as low as this $1.42 per gallon I paid for regular unleaded back in February 2016. It's not as Gilmore Girlish as it might sound. During my regular visits to her place, we run errands. And by run, I mean drive around her Central Texas community to buy groceries, visit doctors, get lunch, take her pup to the vet and... Read more →


The 115th Congress has been in session less than a week, but the Representatives and Senators are wasting no time in introducing legislation. The 115th Congress convened on Jan. 3. During their first short week of work, Representatives and Senators have introduced eight tax measures. (Photo by Ottojula via Wikimedia Commons) Since the Jan. 3 swearing in (and my Congess.gov search this afternoon), 490 bills have been introduced, 428 in the House and 62 in the Senate. And even though there's greater hope that we'll finally get some sort of comprehensive tax reform, that's not stopping individual lawmakers from putting... Read more →


We're in the midst of an Arctic cold spell here in Central Texas. Yes, it's nothing compared to many other parts of the country, but it's ours. Three days of sub-freezing temperatures have made it clear that the hubby and I are no longer equipped to live in colder climes! We're just glad our backyard waterfall was able to deal with a bit of frost. This cold snap got me thinking about how glad I am that we were able to make some easy energy efficiency upgrades to our home and get a federal tax credit for them. Most energy... Read more →


I got in my car for the first time in 2017 today. It also was my first use of my new mileage log. Yep, that pretty little pink spiral notebook is this year's tracking device of all my potentially tax deductible miles. And yep, those of you who know me know that I'm not really a pink kind of gal. This notebook was tucked in bag I got at a conference. Over the years, I've attended a lot of conferences and gotten a whole lot of similar notebooks, so I use a new one each tax year. What miles to... Read more →


Donald Trump doesn't move into the Oval Office for 15 more days, but the Republican-control Congress is working on legislation for him to sign into law shortly after he settles into his new digs. Rep. Chris Collins (R-N.Y.) was on CNBC's Squawk Box this week to discuss House efforts to repeal the Affordable Care Act, often referred to as Obamacare. Click image to watch the full interview. One of the president-elect's campaign promises was to repeal and replace the Affordable Care Act, also known (for a while longer) as Obamacare. That won't be easy, either politically and pragmatically. Delayed repeal... Read more →


Tax season is here. You know what that means. Tax scams are here in full force. Even before the official 2017 filing season started, the Internal Revenue Service warned tax professionals to be on the lookout (sorry, I know that the BOLO phrase is a touchy one when it comes to the IRS) for yet another tax scam. This one, according to the IRS and its Security Summit partners, is a new e-mail phishing scheme aimed at tax pros that has the subject line "Mails on Hold!" It comes just two months after the crooks tried to get tax preparer... Read more →


It's that time of year again, tax season. Whether you're working on your Form 1040 (or 1040A or 1040EZ) yourself or turning your annual tax-filing task over to a professional, you'll want to check out the Daily Tax Tip. It will be there at the top of the ol' blog's right column through the April filing deadline. A new tip will be posted each weekday. All also will be archived on their own monthly tax tip pages -- January 2017 is posted, with February, March and April going live when those months arrive -- so you can check them out... Read more →