Mark Luscombe
Mark Luscombe
bet grand less odds prize sure tax winning
The odds of winning the grand prize are less than one in 146 million, but it's a sure bet that if you do win a big jackpot, you're going to also have a big tax bill, with more than one-third of your winnings going to the IRS.
file filing money paid return tax worth
You don't have a filing requirement because you don't have a tax due. But if you had withholding, you've paid tax. It's worth your while to file a return to get your money back.
interest viewed
This is because they're viewed as prepaid interest.
areas disaster help hurricane people
People who don't live in presidential-declared disaster areas get help, but not the most help or the quickest. Those in declared disaster areas but not in the Hurricane Katrina-Rita-Wilma areas get more help quicker, while those in the Katrina-Rita-Wilma disaster areas get most.
self sign tax
No self-respecting tax practitioner would sign on to any of these.
addition bad brings extension failure file filing interest pay penalties possible return situation smart worse
The one thing that can make a bad situation worse is not filing your return or requesting an extension. That brings on a failure-to-file penalty, in addition to possible penalties and interest for failure to pay. It's smart to file even if you can't pay, and pay even if you get an extension to file.
affected babies baby boomers cry hue maybe quite
I can't tell you why there hasn't been a hue and cry about this. Maybe it's just because the baby boomers aren't quite old enough to be affected by it yet.
means taxes
For taxpayers, it means doing your taxes twice.