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February 19, 2009

Publisher's Note
“You cheated!  I’m telling on you!”  I can hear those words in my head as clearly as yesterday.  Back in the third grade, Sally Jensen spotted Ricky Tompkins cheating on a social studies quiz, then belted out her finding to the class as if she’d stumbled upon a pile of gold.  Sally’s voice echoed in my head throughout college and well into adulthood, especially around tax time!  Maybe someone should track her down and get her to be a spokesperson for the IRS!  

Check out our story on the 2008 Taxpayer Attitude Survey that was conducted by the IRS Oversight Board.  The click-thru for the full survey is at the bottom of the article.  Good lunchtime reading!

Rob Nance
AccountingWEB, Inc.

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Questions & Advice

Other Income

I received a car from my boss as a gift for the year, I guess it could be called a bonus, not sure. Anyway, so when this year taxes came along I received a call stating that I was going to have to pay taxes on this. I then recevied a other income IRS paper in the mail for the amount of 10,000. Do I have to pay this, cause you do not have to pay taxes on a gift for under 12,000, and if so how much is going to be? Also, the car did not cost that much so how do I fix the amount?
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Did golf pro Jim Thorpe slice the IRS?

Three years of unpaid taxes, from 2002, 2003, and 2004... that's the bunker Jim Thorpe finds himself stuck in. Charges were filed in an Orlando, Florida federal court accusing Thorpe of failing to pay federal taxes - amounting to $1.6 million - on income of more than $5.2 million earned during that three year period. more >>
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