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Archive for October 18th, 2007

IRS Official 2008 Tax Rates

Posted by taxguru on October 18, 2007

IRS has announced their official calculations of the 2008 inflation adjusted tax rate schedules, standard deductions and exemptions.  They match the ones I posted earlier that had been computed by CCH.

You can download the IRS 20 page pdf file with all of the details.  This also includes a lot of other inflation adjusted figures that neither I nor CCH covered previously.


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Verifying Donations?

Posted by taxguru on October 18, 2007

A little joke courtesy of Pastor Tim’s Clean Laughs:

*IRS Call*

When the minister picked up the phone, Special Agent Struzik from the IRS was on the line.

“Hello, is this the minister?”

“Yes, this is.”

“I’m calling to inquire about a member of your congregation, a Dr. Shipe. Do you recognize the name?”

“Yes, he is a member of our congregation. How can I be of service?”

“Well, on last year’s tax return, the doctor claimed that he made a sizable tax-deductable contribution to your church. Is this true?”

“Well, I’ll have to have our bookkeeper verify this information for you. How much did Dr. Shipe say he contributed?”

“Twenty five thousand dollars,” answered Agent Struzik. “Can you tell me if that amount is true?”

There is a long pause. “I’ll tell you what,” replied the minister…….

“Call back tomorrow. I’m sure it will be.”


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Posted by taxguru on October 18, 2007

Tax Board Outs Simpson, Sinbad, Warwick – The entertainment press has picked up on my earlier piece on the Calif. FTB’s list of unpaid taxes by celebrities.  I didn’t recognize Sinbad’s name on my first review of the list; but now we know who that is and that he owes over $2.1 million to the FTB. 


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