No matter how much I diet, only my hair gets thin.
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35% in 2002 (http://www.taxpolicycenter.org/taxtopics/encyclopedia/Itemized-Deductions.cfm ), maybe a bit less now.
Usually homeowners (especially those under 65) itemize, others don't.
Delay can be a big deal (I'm not looking forward to "where's my refund" calls!). I'm hoping most returns can be e-filed by early February.
Processing Delays for Many
Tax Season Starts on Time for Most Taxpayers; Those Affected by Late Tax Breaks Can File in Mid- to Late February
IR-2010-126, Dec. 23, 2010
WASHINGTON — Following last week’s tax law changes, the Internal Revenue Service announced today the upcoming tax season will start on time for most people, but taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to file their individual tax returns. In addition, taxpayers who itemize deductions on Form 1040 Schedule A will need to wait until mid- to late February to file as well.
The start of the 2011 filing season will begin in January for the majority of taxpayers. However, last week’s changes in the law mean that the IRS will need to reprogram its processing systems for three provisions that were extended in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17.
People claiming any of these three items — involving the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction as well as those taxpayers who itemize deductions on Form 1040 Schedule A — will need to wait to file their tax returns until tax processing systems are ready, which the IRS estimates will be in mid- to late February.
“The majority of taxpayers will be able to fill out their tax returns and file them as they normally do,” said IRS Commissioner Doug Shulman. “We will do everything we can to minimize the impact of recent tax law changes on other taxpayers. The IRS will work through the holidays and into the New Year to get our systems reprogrammed and ensure taxpayers have a smooth tax season.”
The IRS will announce a specific date in the near future when it can start processing tax returns impacted by the late tax law changes. In the interim, people in the affected categories can start working on their tax returns, but they should not submit their returns until IRS systems are ready to process the new tax law changes.
The IRS urged taxpayers to use e-file instead of paper tax forms to minimize confusion over the recent tax changes and ensure accurate tax returns.
Taxpayers will need to wait to file if they are within any of the following three categories:
Taxpayers claiming itemized deductions on Schedule A. Itemized deductions include mortgage interest, charitable deductions, medical and dental expenses as well as state and local taxes. In addition, itemized deductions include the state and local general sales tax deduction extended in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 enacted Dec. 17, which primarily benefits people living in areas without state and local income taxes and is claimed on Schedule A, Line 5. Because of late Congressional action to enact tax law changes, anyone who itemizes and files a Schedule A will need to wait to file until mid- to late February.
Taxpayers claiming the Higher Education Tuition and Fees Deduction. This deduction for parents and students — covering up to $4,000 of tuition and fees paid to a post-secondary institution — is claimed on Form 8917. However, the IRS emphasized that there will be no delays for millions of parents and students who claim other education credits, including the American Opportunity Tax Credit and Lifetime Learning Credit.
Taxpayers claiming the Educator Expense Deduction. This deduction is for kindergarten through grade 12 educators with out-of-pocket classroom expenses of up to $250. The educator expense deduction is claimed on Form 1040, Line 23, and Form 1040A, Line 16.
For those falling into any of these three categories, the delay affects both paper filers and electronic filers.
The IRS emphasized that e-file is the fastest, best way for those affected by the delay to get their refunds. Those who use tax-preparation software can easily download updates from their software provider. The IRS Free File program also will be updated.
As part of this effort, the IRS will be working closely with the tax software industry and tax professional community to minimize delays and ensure a smooth tax season.
Updated information will be posted on IRS.gov. This will include an updated copy of Schedule A as well as updated state and local sales tax tables. Several other forms used by relatively few taxpayers are also affected by the recent changes, and more details are available on IRS.gov.
In addition, the IRS reminds employers about the new withholding tables released Friday for 2011. Employers should implement the 2011 withholding tables as soon as possible, but not later than Jan. 31, 2011. The IRS also reminds employers that Publication 15, (Circular E), Employer’s Tax Guide, containing the extensive wage bracket tables that some employers use, will be available on IRS.gov before year’s end.
http://www.irs.gov/newsroom/article/0,,id=233449,00.html?portlet=7
Tate Forcier out of Gator Bowl
http://www.fox17online.com/news/fox17-michigan-rules-forcier-ineligi-123010,0,7058469.story
2010 returns due Monday, April 18
Friday, April 15 is Emancipation Day in the District of Columbia. So all the last minute filers get an extra weekend.
hey! wanna buy Rich Rodriguez? low price special
I think you'll want to talk with a Certified Financial Planner on that one. In addition to income tax on the sale (if owner is a US citizen or resident), there is gift tax to consider.
Putting land or cash into a trust might be worthwhile.
George Harrison & Eric Clapton (live) - Taxman
Third Rock from the Sun: Dick and Taxes
newbie65, see the July 1 prospectus. 88,269,590 outstanding as of June 18. After the offering, 95,144,591 shares.
http://ih.advfn.com/p.php?pid=nmona&article=43450932&symbol=NB%5EBMOD
RSI = Relative Strength Index
http://www.investopedia.com/terms/r/rsi.asp
that's bloodbath to you!
saved by a $1 buy!
60,951,940 at .0002 (buys)
1,099,700 at .0001 (sells)
55:1 ratio
ARCA still wants those billion shares at .0001. Won't you help?
Closed at .0002
Late trades
u 0.0001 9361700 OTO 16:02:16
t 0.0001 9000000 OTO 16:01:13
t 0.0001 9000000 OTO 16:01:09
St George Investments LLC
303 E Wacker Drive, Suite 311
Chicago, IL 60601
312 297-7008
mrpenny2000 is in the area, and attempted to arrange a tour of the Beaverton facility. Management was initially receptive ( http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49586545 ) but failed to respond to followup e-mails ( http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50705499 )
Read about Accumulation at
http://en.wikipedia.org/wiki/Accumulation/distribution_index
(not great, but it's a start)
Ken Detko (of ConeXa Services) has posted here a couple of times.
http://investorshub.advfn.com/boards/Profile.aspx?user=128472
O/S: 12,086,223,120
(Verified with TA @ 12:30pm 7-9-2010)
from the i-box. (Great job Ironman!)
Pennystockguru
UWRL today's action was nothing more than profit taking. After 5 straight days of gains to the tune of 300% this stock was well overdue for a pull back of some sort. I think anyone who purchased at today's low will be very happy heading into the weekend, as UWRL just renew its ascent tomorrow.
http://pennystockgurus.blogspot.com/2010/07/fridays-stocks-to-watch-uwrl-htlj-lbsre.html
Hydrastax9, people sell for a variety of reasons:
1. Need to raise cash
2. Better investment elsewhere
3. Protecting capital
4. Taking profits (some bought at .0001)
Everyone has to assess risk/reward of investing here. Recent predictions range from no bid to .03 and higher.
Getting .0002 today was a sure thing; .0003 was not.
13,849,253 shares traded at .0003
107,235,017 shares traded at .0002
http://ih.advfn.com/p.php?pid=trades&symbol=ARSC&java_vm=sun&java_vm_ver=1.6.0_20
Here's another L2 article - more interesting reading!
http://www.hotstockmarket.com/forums/showthread.php?t=14938
and no more Buzz
http://investorshub.advfn.com/boards/tcloud2.aspx