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St. Matthew
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Volume 4 - Number 3
March 5, 2001
Terry's and my weight loss is progressing very nicely. Both of us are right on track to loose what we need to. There are times that when we both want to quit, but we just keep plugging along. We're now starting to take a day off every now and then. It may take us a little longer to take the weight off, but it makes it much easier to stick to the plan. Eating out helps to break up our daily routine of eating every meal in instead of dining out. We've finally gotten back into the swing of heading to the gym two or three times a week. The best news is that Terry already has gone down one pants size and I'm
getting ready to do the same. Our clothes are getting baggy. I guess we'll just have to go shopping for new duds!
One of the causalities of our weight loss is Terry's formal gowns and skirts and my tux. As I've mentioned in previous columns, Terry and I have a formal "date" usually once a month to attend the Fort Worth Symphony. On our most recent concert, Terry's skirt was so loose that it was almost falling off. My tux, which was tight on our last cruise, is now feeling very comfortable. I guess it's going to be time to head over to our favorite alteration place very soon. Terry may even have to go shopping for some of those long slinky beaded gowns and I may have to end up buying a new tux. At least I'll probably be able to make it through the end of the current season, I've got some adjustments I can make in my tux pants. Terry is definitely going to have to have some alterations done.
As I mentioned today's column will be a primer on filing your taxes electronically. Filing them in this way will normally get your refund back to you in as little as 8-10 days! That's good news, everyone can use the money. While we're on the subject of money, as I write this, the Texas lottery is up there again, 77 million dollars. That is "life-changing" money! That kind of money could change your life and many others. Oh well, we can all dream!
Back to the subject at hand, in April we'll be doing a column on recreational vehicles and life on the road. I'll be drawing on some of the experiences, tips and advice of Terry's parents. Nearly two years ago, they set out on the road full time and are having a blast! Right now they are on the coast of Oregon volunteering at a light house.
For our May issue we'll be revisiting the art of searching the web for the information you seek. In June we'll be doing a column featuring one of our favorite spots in Texas, Daingerfield State Park. Terry and I are planning on a camping outing around the middle of May, our 11th wedding anniversary. I'll be writing the June column while we are there camping. (Terry is real excited about that!) The issue will be packed full of digital pictures highlighting all of the beauty of the park. That's what we've got planned for the next few issues. If you have any suggestions on topics you'd like covered, please drop us a line and let us know. We'll do our best to accommodate your request. I'll now turn it over to Terry who will be covering the electronic filing of your taxes, tax history, trivia and a little bit of tax humor.
Welcome to a new edition of "Your Web Connection". The month of February is gone and what does that mean? Tax time is right around the corner. So in light of the time period, Terry is going to do a column on taxes and online filing of your taxes. Many of you know that Terry is a CPA (Certified Public Account). Here's the disclaimer before we even get started. First off, she is not in public practice and second she is not a practicing tax accountant. She is a financial accountant. Please don't write asking for tax advice, she will not be able to give it. Today she is going to cover some general aspects and sites that will help you to expedite the filing of your return by doing it the online way, the way that the IRS wants us all to adopt. A follow up to her column will be a presentation at the March CyberSig meeting which will be held March 31, 2001, 10:00 a.m. at Trinity Terrace in Fort Worth. First a bit of news, then we'll get into the meat of the column.
It's Tax Time! Online Electronic Filing, History, Trivia And A Bit Of Humor!
April 15th! A date that strikes fear in the hearts of all Americans! Yes, tax time is fast approaching and this column will be devoted to pointing you to some helpful tax sites. Please note that the sites offered are in no way endorsed or supported by me and Chuck and in no way should be construed as tax advice.
Until recently, there was only one way to file your taxes. You or your tax preparer filled out all of the paper work and mailed your return to the IRS. You had to wait sometimes two or three months to receive your refund! Today you have a few more options. Some of these options even allow you to receive your refund in a matter of days! Of course, you can still fill out your return on paper and mail it to the IRS. But several years ago, electronic filing was introduced. This was partially an attempt by the government to reduce the amount of paper that the government had to handle. Tax returns that were simple and required only the basic forms such as the 1040 and Schedule A could be filed electronically. But you still had to provide some paper to the IRS so they would have your signature on your return.
Today, you can file more complicated returns electronically and without having to pre-register with the IRS or buy expensive tax filing programs. The newest way to file your taxes is e-file for Individuals using the Self-Selected PIN. There a still a few exclusions that prohibit using this form of electronic filing, but those exclusions are getting fewer and fewer. The difference between this year's electronic filing and last year's is the Self-Selected PIN. The purpose of the PIN is to allow you to "sign" your return electronically so you do not have to mail any paper at all to the IRS. To find out if you are eligible to use this new form of filing, go to IRS e-file for Individuals, The Self-Select PIN.
If you decide that you don't want to use the e-filing with your Self-Selected PIN, there are still many sites available to help you file the "old" ways. Most of the sites listed in the table below are e-file sites, but some of them still provide help for the really old fashioned way...paper filing.
| Company | Web Site |
| Complete Tax | www.completetax.com |
| H&R Block Online | www.hrblock.com |
| Kiplinger TaxCut | www.taxcut.com |
| ON-LINE 1040A | www.quick-tax.com |
| Quicken TurboTax | www.turbotax.com |
| TaxACT | www.taxact.com |
| TaxBrain.com | www.taxbrain.com |
| Tax-Engine.com | www.tax-engine.com |
| TaxSlayer | www.taxslayer.com |
| FileSafe | www.filesafe.net |
| MyHDVest | www.myhdvest.com |
| AutoTax | www.autotax.com |
| FileYourTaxes.com | www.fileyourtaxes.com |
| ezTaxReturn.com | www.eztaxreturn.com |
| Preptax.com | www.preptax.com |
| eSmart Tax | www.esmarttax.com |
| Automated e1040 | www.e1040.com/taxa2000 |
For those of you who still like the feel of a book in your hand, there are several really good books on the market. The Star-Telegram reviewed some of these books in the Sunday, February 18, 2001 edition of the paper. Their top picks were:
If, after sifting through all of this information, you still feel like tackling your return yourself, there are a couple of inexpensive tax programs that the Star-Telegram also reviewed in the February 18, 2001 article.
Tax History and Humor
What do Congressman Dick Armey and Lady Godiva have in common? Both were/are advocates of tax reform! Lady Godiva lived in 11th century Coventry. She was married to the Earl of Mercia, a tyrannical ruler who heavily taxed his people. Lady Godiva was a kind, gentle and pious woman who hated the way her husband treated the people, and they quarrelled frequently. One day her husband, tired of her constant begging for mercy for the people of Coventry, told Lady Godiva that if she would ride through the streets of Coventry, naked, he would cancel the tax. Lady Godiva wanted the tax lifted so badly, she did it! In 1040, Lady Godiva rode her horse through the streets of Coventry clothed in nothing but her long blond hair! Her husband kept his word, and the taxes he had imposed on the peasants of Coventry were lifted.
Dick Armey's tax reform proposal is not quite as risque, but, if it is ever adopted, could benefit the people of the United States much as Lady Godiva's ride through Coventry helped the people of that city. Dick Armey has proposed a flat tax that would create more equality in taxation than exists with the current system. To read the details of Mr. Armey's flat tax proposal, click on the Flat Tax Resource Page.
A flat tax is not beyond the realm of possibility. In fact, the first tax imposed upon the people of the United States by President Lincoln in 1862 was a modified flat tax. Income less than $600 per year was exempt from taxation. Income from $600 to $10,000 per year was taxed at the rate of 3%. Income over $10,000 per year was taxed at 5%. The reason for the first tax was to help finance the Civil War. However, after the Civil War, the acceptance of the tax began to wane. In 1864, the tax became a true flat tax when the rate was modified to a flat 5% with the exemption being raised to $1,000 per year. Today, the tax laws have changed to the point that taxes are now approximately 38.2% of the average family's income.
Enough of the depressing facts about taxes. Here are a few interesting tidbits that you can use to impress your friends and family!
- Did you know that today's tax law contains more words than many famous documents put together? The Gettysburg address is only 269 words. The Declaration of Independence is 1,337 words. The Holy Bible is 773,000 words. When the tax laws of 1913 were written, they contained 11,400 words. Today's tax law has grown to 7,000,000 (yes, that is seven million!) words.
- Taxes are due April 15th...the same day the Titanic went down!
- A fine is a tax for doing wrong. A tax is a fine for doing well.
- Why is it that a slight tax increase costs you two hundred dollars, but a substantial tax cut saves you only thirty cents?
- Who Said That?? "The hardest thing in the world to understand is income tax!" -- Albert Einstein!
We hope you enjoyed today's issue of "Your Web Connection." If there is a topic or site you'd like to see covered in the future, let us know and we'll take a look at it. If you'd like to be added to our column notification list, drop us an email and we'll add your address. Our subscriber email addresses are private and we use an excellent software for our mailing list notification. We'll see you the first Monday of April with our column on life on the road with Terry's parents. Until then, please don't hesitate to drop us a line. If you'd like to be added to our mailing list, just let us know and we'll be glad to add your email address. We use a super mailing list program and we never share our list with anyone.
Authored by Chuck and Terry Mencke
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