HDTenEightyP/NetNews huggingface dataset:
From: cza@prefect.cc.bellcore.com (C. Akgun)
Subject: NY State Tax Dilemma
Organization: Bell Communications Research, Navesink, NJ,
Distribution: usa
Date: Thu, 28 Jan 93 14:53:09 GMT
Keywords:  NY State going down 


I ran into a problem with NY State.  Hoping to find
out other peoples who are in the same predicament.  NJ
residents who work in NY must know this problem well.
Although I have not a single cent income coming from NY State,
because of my wife who works in NYC, we have to pay non-resident
income state taxes to NY State.  No problem.  The twist came in 1988
and NY State had decided tax my wife's income using the inflated tax 
rate by usuing our total income as a base (since we file joint
federal returns).  This became a bitter fight between
NJ and NY for three years.  Finally, last year the NY
State (or federal?) supreme court decided that NY
State's taxing practice was illegal and New Jerseans are
entitled to get their money back as refund by filling 1988, 1989,
and 1990 NY State income tax amendments.

So far so good, right?  We did file our amendments and have
received our money back for 1990 and 1989 (no interest of
course) around last August or so.  I immmediately made an
inquiry on 1988.  The answer was given that they had
given the priorty to the recent years first and we should
receive the 1988 amount by Sept/October time frame.  By
the end of October, I followed up again.  The answer was
they are working on it and we should get it by December at
the latest.  Of course, December has gone and no check
from NY State.  Two weeks ago, I called again.  The
answer is now "wait for April 1993."  I could not belive my ears
and started getting nasty on the phone (and they hung up on me).
How can this be possible?  In what right that NY State can
keep my money (about $700) without paying a single penny of
interest and penalty.  I  wrote a letter to NY State
Income tax director with copy to the governor of NY State, NJ
State Governor, and NJ senators.  Yesterday, I received a
response from NJ Senator Bill Bradley.  He said that he cannot help
me directly to expedite a resolution for this problem,
However, he has refered my letter to the attention of
Joe Blo in NY State.  I am really pissed off and I would
be put into a ridiculous situation that I have to pay my
NY State income tax this year again while my $700 in their
pocket from 1988.  Is there anyone here that has the same problem?
Should I deduct the 1988 refund from my this years payment if
I don't get  my refund by April 15?

Your advice (thru your experience) via e-mail or post is appreciated.

C. Akgun
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: 401K Rollover question
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Wed, 27 Jan 1993 16:28:00 GMT

In article <C1HI07.EJ9@boi.hp.com> kbecker@boi.hp.com writes:
>
>I have the check now, minus 20%. I am prepared to make up the 20%
>out of my pocket, and put the full amount into my employer's 401K
>program. Unfortunately, they are balking at this. I'm not really
>eligible yet for my new company's 401K program, and they don't
>want to take anything but the check I got (which is short 20%). I
>really don't want to eat _any_ penalties at all.
>
>My question is this: should I be able to roll over the full amount
>into my employer's 401k program by making up the missing 20% from
>my own personal funds? If they won't let me, can I use an IRA to
>accomplish the same thing (that is, roll over the full amount)?

Check out the IRS PUblication covering IRAs.   (Pub 590????)
(Call 800-TAX-FORM for information -- the pub is free)


You should be able to rollover the 80% plus your own 20% into your
own IRA within 60 days and not have any tax liability.  The 20%
should be considered to be prepaid taxes.  It just presents a cash
flow shortage, or can be used to reduce your withholding or
estimated tax payments.

-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: accejf@vaxa.hofstra.edu
Newsgroups: misc.taxes
Subject: TAXES TOO HIGH!
Date: 21 Jan 93 09:24:27 EST

PLEASE READ THE PRECEDING POSTED MESSAGE!!
Newsgroups: misc.taxes
From: sears@cello.hpl.hp.com (Bart Sears)
Subject: Re: rental income agony
Date: Mon, 25 Jan 1993 07:29:43 GMT
Distribution: usa
Organization: Hewlett-Packard Laboratories


>to let him live in my house in return for paying half the mortgage and expenses.
>My friend is obviously paying me rent, but how do I report this to the IRS?

I believe (ie don't take my word, check it out for yourself) that if
the agreement (and the actual payments) are that your friend pays for
1/2 of the expenses (and your morgage is an expense but depreciation
is not an expense) then you don't need to treat the money he pays as
rent and can instead look at it simply as expense sharing.  The
reality is that you are better off treating it as rent (because you
can then depreciate the rental half of your house), but the extra
paperwork may not make it worth it.  One of the keys is that if your
state has a "Renters Tax Credit" (like California used to have) your
friend should _not_ have claimed it since he was not technically
renting.  If he did claim it, you are probably too late and will need
to go through all of the paperwork.

							Bart
From: accejf@vaxa.hofstra.edu
Newsgroups: misc.taxes
Subject: <None>
Date: 21 Jan 93 09:21:03 EST

Do you think your taxes are too high??
Do you think that our new president will cause them to skyrocket??
I certainly do!

	I saw this empty newsgroup, misc.taxes, and felt that something HAD
to be entered into it.  I cannot even glance over the word 'taxes' these days
without getting agitaited, and I am sick of democrats (or any politicians) who
think that raising taxes is the only way to solve any of this country's
problems.  I do not like hearing that this makes me a selfish person.
	If anyone has anything to add to this, please do post it.  I know that
there are more people out there who feel this way.
Organization: Masters student, Civil Engineering, Carnegie Mellon, Pittsburgh, PA
Newsgroups: misc.taxes
Date: Tue, 26 Jan 1993 16:16:20 -0500 
From: "William A. Schurman" <ws19+@andrew.cmu.edu>
Subject: 1992 income?

I'm hoping for some help concerning the following...

I was divorced in 1991.  In February of 1992, as part of my divorce settlement,
my x-wife purchased my half of our house deed for an amount well less than half
of its purchase price.

I've been told that I cannot declare this as a capital gains loss even though
I essentially did lose in the home investment.  Must I then report this
settlement amount as income for 1992?

I'd appreciate any responses to this.

Thanks,
Bill Schurman
From: lars@spectrum.CMC.COM (Lars Poulsen)
Newsgroups: misc.taxes
Subject: Re: Social Security for non-citizens
Date: 24 Jan 93 08:04:33 GMT
Organization: CMC Network Systems (Rockwell DCD), Santa Barbara, CA, USA

In article <1993Jan11.230123.6681@ncsa.uiuc.edu>
   vijay@ncsa.uiuc.edu (Vijay Rangarajan) writes:
>.............................................. (even though residents who
>don't intend to take up citizenship end up losing to reverse abuse by the 
>gov't).

What on earth might you be referring to ? Permanent residents have all
the rights and obligations of citizens, except the right to vote. The
obligations include the obligation to serve in the military when called,
and the rights include the right to collect social security benefits.

I am a resident alien myself; I've been in California 12 years, and
intend to retain my citizenship of Denmark for a while longer.
-- 
/ Lars Poulsen, SMTS Software Engineer	Internet E-mail: lars@CMC.COM
  CMC Network Products / Rockwell Int'l	Telephone: +1-805-968-4262	
  Santa Barbara, CA 93117-3083		TeleFAX:   +1-805-968-8256
Newsgroups: misc.taxes
From: eire@bluemoon.use.com (Chris Clinton)
Subject: Re: Which tax prep book to use?
Organization: Blue Moon BBS ((614) 868-998[024])
Date: Wed, 20 Jan 93 13:54:16 EST

lars@spectrum.CMC.COM (Lars Poulsen) writes:

> In article <1993Jan11.204748.6366@meiko.com>
>    hardesty@meiko.com (Robert Hardesty) writes:
> >I am trying to decide which tax prep book is best to use.  There
> >seems to be some that are put out by Cusumer Reports, Money, H&R Block
> >among others and I was wondering which one to choose.
> 
> It is amazing how few people pick up the best value in the field:
> 
> 	IRS Publication 17: Your Federal Income Tax
> 
> It is roughly equivalent in level of coverage to each of the above, and
> it is free at your nearest IRS office (or by mail: Call 1-800-TAX-FORM).
> -- 
> / Lars Poulsen, SMTS Software Engineer	Internet E-mail: lars@CMC.COM
>   CMC Network Products / Rockwell Int'l	Telephone: +1-805-968-4262	
>   Santa Barbara, CA 93117-3083		TeleFAX:   +1-805-968-8256


I called the IRS on Dec 2nd and subsequently got a note to say that
pub 17 was not available yet.
I called again last week and got a similar note in yesterdays mail.
Whats the point in them "supposedly" publishing a book when they do
not have it available at the most important time in the tax year!!!!


Rgds     .......Chris
Xref: sparky misc.taxes:4312 misc.invest:17169
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Newsgroups: misc.taxes,misc.invest
Subject: Re: Capital Gains Tax Question
Date: 26 Jan 93 20:50:50 GMT
Distribution: usa
Organization: AT&T Bell Laboratories,  Columbus, Ohio

In article <28389@sybase.sybase.com> yan@sybase.com (Xudong Yan) writes:
>Suppose you sold some stock and realized some capital gains, and the amount
>is significant. You don't want to wait till end of year tax time to find
>out that you didn't withhold 90% of your income.
>
>What do you need to do? Send money to IRS right away?

I assume you are familiar with the 90% of this year and 100% of last
year's tax  rules (and exceptions.)

If you believe the gain will require additional withholding and/or
estimated tax payments:

   - you could decrease the number of dependents and/or increase the
     withholding tax your employer deducts by filling out a new W-4
     form.  (Next year be sure to correct this form.)

   - or you could file a Form 1040-ES to pay estimated taxes.

     Estimated taxes are filed April 15, June 15, Sept 15 and Jan 15


>If so how much of it? And by which deadline?

See the instructions for Form 1040-ES --  you shouldn't get behind
in your 1040-ES payments.  If in January you know you will owe an
additional $1000 in taxes, then file $250 each quarter starting
April 15.   If you do not incur this income until July 1st, then
follow the instructions -- you will end up paying $500 each in Sept
and January.

>To make things complex, what happen if you realize a large loss later in
>the year? Than you payed too much estimated tax.

Then perhaps you can raise your W-4 form exemptions and/or lower or
stop your 1040-ES payments.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Capitol Gains Question
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Sun, 24 Jan 1993 04:05:55 GMT
Keywords: Capitol Gains

In article <1993Jan24.015520.17885@progress.com> mikef@progress.COM (Michael Furgal) writes:
>Does the rate that you are taxed on capitol gains (i.e. gain on stock
>sales) change if you hold on to the stock for a long period. More
>specifically, I have stock options, and am wondering if I have any
>advantage in purchasing them even though I am gaurenteed the option
>price for the next 10 years.

Under current rules, if you end up with a net capital gain for the
year, and if you are above the 28% tax bracket, your tax on the net
long term capital gains is reduced to 28%. The current holding period
for  long term gains is >1 year.

My advice is not to let the difference between 28% and 31%  become a
major influence in your decision to exercise or not to exercise the
options.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: sjo2693@tesla.njit.edu
Newsgroups: misc.taxes
Subject: Tax Differed Annuity
Date: 21 Jan 93 14:14:03 GMT
Organization: New Jersey Institute of Technology

Can a tax differed anuity be transfered, not rolled over,to a IRA without
any penalties?
From: dey@gaia.cs.umass.edu (Jayanta K. Dey)
Newsgroups: misc.taxes
Subject: A question about Form 1099
Date: 24 Jan 93 20:37:42 GMT
Distribution: usa
Organization: University of Massachusetts, Amherst

Hi,
This is the first time I have received From 1099.  It has a copy to be sent for
State Taxes, and another for my files.  What should I send with my Fed Tax
returns?  If this is part of FAQ, could anybody point me to a FAQ?
Thanks,
--Jayanta
----
Jayanta K. Dey                                  
Networks and Performance Group                    Email: dey@gaia.cs.umass.edu 
Department of Computer Science                    Fax:   413-549-1249
University of Massachusetts, Amherst, MA 01003    Voice: 413-545-3179
From: sjo2693@tesla.njit.edu
Newsgroups: misc.taxes
Subject: SUI
Date: 25 Jan 93 15:13:58 GMT
Organization: New Jersey Institute of Technology

Is the deduction called SUI, deductable on your Federal tax return???
Stan
From: larry@dprmpt.UUCP (Larry)
Newsgroups: misc.taxes
Subject: Re: Options if I do not receive a 1099 - Help
Date: 21 Jan 93 06:07:19 GMT
Reply-To: larry@dprmpt.UUCP (Larry)
Distribution: usa
Organization: Data-Prompt

In article <1jjnqoINN7cq@tamsun.tamu.edu> tpradeep@cs.tamu.edu (Pradeep K Tapadiya) writes:
>Howdy friends,
>
>I have a part-time home-office based contract programming business.
>In Dec 1992, I received a $400 check from one of my clients for my
>services. This client informs me that a 1099 is issued only if the
>amount in greater than $600 in a year and therefore I won't be
>getting any 1099 from his company.
>
>I am wondering if the tax-gurus on the net can help me with a couple
>of questions.
>
>Q. Since there is no 1099 involved, IRS will never know about this
>  transaction. Can I get away without mentioning this amount on the
>  tax returns? Is there any risk involved at all?

They will now...you just posted this to a nationwide forum.  The risk
of not reporting the income is that if your return is examined and
the income was not reported you're liable for the tax, plus penalty
and interest from the date due.
>
>Q. Alternately, can I declare the amount for tax year 1993 even though
>  I received the check in 1992?
>
Don't think so.  If you don't bill your client for work done in 1992
until 1993, THEN the income is declared in 1993, even though the work
may have been performed in 1992, because the income was received in
1993.  Since you're probably on a Cash Basis for accounting purposes, 
the income in considered earned when received (in your case, 1992), 
so it must be reported on your 1992 return.

>Thank you for your help.
>
>Pradeep
>tpradeep@cs.tamu.edu

Hope this helps.  

Standard disclaimers apply.  Opinions expressed are my own and do 
not necessarily reflect the opinions of my clients.
-- 
* - * - * - * - * - * - * - * - * - * - * - * - * - * - * - * - * - * - *
* Larry Johnson                         VOICE:  (301) 622-0900          *
* INTERNET: larry@dataprompt.com        UUCP:   ...!uunet!dprmpt!larry  *
* - * - * - * - * - * - * - * - * - * - * - * - * - * - * - * - * - * - *
From: acheng@ncsa.uiuc.edu (Albert Cheng)
Newsgroups: misc.taxes
Subject: Re: Social Security for non-citizens
Date: 26 Jan 93 15:27:28 GMT
Article-I.D.: news.C1Gw9s.8AF
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Originator: acheng@shalom.ncsa.uiuc.edu


In article <2756@cronos.metaphor.com>, sasha@sharik.metaphor.com (Sasha Velednitsky) writes:
>>In article <C0p618.B1M@news.cso.uiuc.edu> acheng@ncsa.uiuc.edu (Albert Cheng) writes:
>
>>Hm... Last I heard, all our honorable Congress Reps and President did not
>>pay a single dime of Federal Tax.  They are exempted from it.  I guess
>>you are still right, they don't participate in this society.
>
>This is simply not true.  The income of President is public information and
>is published in all major newspapers after April 15 including Fed Income Tax
>paid.  President's Bush income for 1991 was about $300K (this is from 
>memory and could be not very acurate) and Federal Tax was above $100K.

Yes, yes, yes, I was wrong.  [My hide is full of arrows.]  I admitted I
remembered it wrong.  I read the Jan. '92 MONEY article about Bush not
paying much state tax.  It also said he did not pay Washington D.C.
tax.  I misread all of them do not need to pay income tax or SStax.  I
was wrong and I am sorry for the wrong information.
From: jms@vision.sarnoff.com (Jerry Shapiro x2420)
Newsgroups: misc.taxes
Subject: Re: Turbotax Release Date?
Date: 25 Jan 93 22:38:54 GMT
Reply-To: jms@vision.sarnoff.com
Organization: David Sarnoff Research Center

In article 19343075@nauvax.ucc.nau.edu, smothers@nauvax.ucc.nau.edu () writes:
>
>      I bought Turbotax headstart edition in which it promised to send the
>updated version by mid January. Well here it is late january and no hide
>nor hair of it. Has anyone out there in tax land got the update yet?
>Reply here or e-mail me at the above address.
>
>mark


got mine today
jerry
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Why would they send a 1099 ?
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Thu, 28 Jan 1993 22:58:01 GMT

In article <1993Jan28.214749.22155@dsd.es.com> danderso@bambam.es.com (Derek Anderson) writes:
>	Here's a question I wonder if someone out there could answer for
>me. Last year (1992) I sold some used computer equipment and shipped it
>COD through an air freight company. A few days ago my wife gets a phone
>call from the shipping company, asking for my SS number. She asks them
>why and was told that in 1992 they had paid me $x.xx for some COD's and
>that by law I had to claim that on my taxes. They needed my SS number so
>they could send in their 1099 forms.
>	It seems like the buyer made the check out to the shipping
>company and then the shipping company made me a check. I guess I just
>don't understand why the shipping company would be sending in a 1099 for
>the sale of some used computer equipment that I didn't even sell to
>them. Could someone enlighten me?

From what you've written, sounds like you don't have to give them
any SS #.

If you already have your money, in fact, you could just walk away.

Perhaps they consider you to be an independent contractor who
contracts your services to the shipping company, but it seems too
farfetched to be valid.  If it were me, I'd ignore that request and
thell them SS#s are very private and they have not demonstrated any
qualified exception.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: What and When can I c
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Thu, 21 Jan 1993 16:26:42 GMT

In article <430@dprmpt.UUCP> larry@dprmpt.UUCP (Larry) writes:
>In article <1993Jan14.183810.17573@cbnews.cb.att.com> ask@cbnews.cb.att.com (Arthur S. Kamlet) writes:
>>
>>As long as you write and date and mail your check in 1992, you can
>>deduct even if the mortgage company doesn't receive the payment
>>until 1993.
>
>That's what I thought, too, BUT...
>
>I sent my mortgage company a check for both my January and February
>house payments a week before the end of 1992 so I could claim the
>extra month's interest in 1992.  I specifically noted on the payment
>stubs that the extra check was for the Feb. 1993 payment and NOT to be
>applied to reduce principal or escrow.
>
>When I got my "1098 Substitute" statement 3 days ago, it said:
>
>	TOTAL INTEREST APPLIED 1992 (NEXT DUE DATE 03/01/92) $ X,XXX.XX
>	  LESS NET PREPAID INTEREST - CURRENT YEAR               YYY.YY
>	1992 NET INTEREST PAYMENTS REPORTED TO IRS *****     $ Z,ZZZ.ZZ
>
>$ xxx.xx represents the interest portion of the Feb. 1993 payment.  I 
>called Customer Service and was told that "the IRS told them that only the
>January payment's interest could be deducted in 1992" and said that
>this was not the bank's rule but that the IRS made them do it this
>way.  What this means is that even though I paid the extra payment in
>1992 and the bank received and posted it in 1992, I still cannot
>deduct it until 1993.  I'm confused !?!?  This means I get the same
>interest deduction this year whether I paid the extra interest or
>not!
>>
>>I suspect more checks for deductible taxes and interest and medical
>>payments and charities, etc, are dated December 31 than any other
>>day of the year.
>
>Yeah, but if the bank is correct, then any prepaid interest is only
>deductible if the bank reports it to the IRS as "Paid in 1992" and you
>receive a Form 1098 to that effect.
>
>I will be checking with the IRS and my CPA on this and will post a
>followup for those interested.

Sure, check it out.

But don't let the bank bully you into anything, either.

I often report things to the IRS differently than they show up on
1099s and related forms. Of course, I also attach an explanation,
and right on the form I say "see attached statement."  So far (quite
a few years) no one has bothered me about this.  Even in years I was
audited, no one questioned these statements.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: A question about Form 1099
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Mon, 25 Jan 1993 01:14:26 GMT

In article <59073@dime.cs.umass.edu> dey@gaia.cs.umass.edu (Jayanta K. Dey) writes:
>This is the first time I have received From 1099.  It has a copy to be sent for
>State Taxes, and another for my files.  What should I send with my Fed Tax
>returns?  If this is part of FAQ, could anybody point me to a FAQ?

I am not familiar with Mass. taxes, but you do not file your 1099
with your federal tax return.  You do, however, report the income
shown on the 1099.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus