RedGearTech Blog

Update on First Time Homebuyer Credit and Tax Refunds

Friday, April 8th, 2011

The IRS released information on processing issues that are impacting a small percentage of tax returns involving repayment of the First Time Homebuyer Credit (FTHB), primarily involving 2008 home purchases. While most of these returns are processing normally, the IRS recognizes the hardship caused by delayed refunds and it has ...

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A list of wacky tax duductions – some approved, some not

Monday, February 25th, 2008

Denied by the IRS Bodybuilder (part 1): A pro bodybuilder wanted to claim a dietary business deduction for buffalo meat and protein shakes. Donor's Deduction: A Manhattan CPA was approached by a man who had made some money as a sperm donor. He wanted to take a depletion allowance, which only works ...

Posted in Efile Taxes, IRS Tax Forms | Comments Off