Turkey Day...Is It Here Already? Yes Ladies and Gentlemen Thanksgiving is here yet again. And luckily for us, even the IRS takes a break. But keep in mind, come Friday the IRS-Hitman will be back in full force. And remember, they won't have any problem cleaning you out ...even if it is the holidays.
New in the IRS: "Taxpayers who make qualifying cash contributions for disaster relief efforts in the Midwest could benefit from a recently passed law that suspends the percentage-of-income limits that would normally apply when taxpayers deduct the contributions on their 2008 federal tax returns." You can readthe rest of this story here.
Be Safe: Other than that readers, I hope you all have a wonderful, warm holiday filled with friends and family. My family's been on me about updating during the holiday. But I'll probably pop on here just for a bit tomorrow.
As always thanks for reading, and Happy Thanksgiving.
-The IRS Hitman