If I prepaid taxes on a Roth conversion then recharacterized back to a traditional IRA, how do the taxes I paid work? [more inside]
My spouse efiled our US federal and state tax returns as married/separate. I haven't filed mine yet. We did some re-calculations and realized we'd get a bigger refund filing married/joint. How do we get the IRS to delete/reject the already efiled return or amend things so we can file the married/joint one correctly?
I'm dealing with the tax ramifications of a bonus clawback, and it's ugly. I'd like get a feeling for just how ugly it's gonna get. Would any MeFites please share their US compensation clawback experience? I understand none of you are my accountant and that none of you are offering specific tax planning advice.
You are not my accountant, but I'm trying to figure out whether I need a tax preparer, or whether software based services like turbo tax can help me navigate the rough and choppy seas of my tax nightmare. [more inside]
Because of transgender reasons, I recently legally changed my name in court (and at Social Security and the DMV). I have taken care of my bank and my work accounts. Credit card companies and my ISP require me to mail the paperwork. I feel like I'm missing a lot - can you give me some examples of other stuff I will need to change? What is the most important stuff that I should do first? [more inside]
My health insurance provider wants my social security number. Do I need to give it to them? [more inside]
I own several rental properties in Columbus Ohio and I plan on expanding. My current CPA does not have much experience with real estate investors and is also slow in getting back to me when I have questions. How can I go about finding a CPA who is well versed in real estate, responds quickly to my questions? Thanks
Long story...be patient Before I even start explaining this situation, I am going to admit that business between family members is always a disaster in the making. I was left out of the decision making on all of the below described situation and only heard bits and pieces of what really happened until it got to the point where I had to get actively involved. This has to do with a grandchild cheating his grandmother out of a large sum of money and getting away with it legally. Read on [more inside]
A few years ago, a friend was staying with me for an extended period of time. Although he has residency over here in the UK, he is still a US citizen and 'temporarily' used my address for bank statements etc. How do I get the IRS to stop sending his letters to my house? [more inside]
How do I choose a tax attorney? [more inside]
My lawyer is unwilling to email me an appeal they have written for me. They say I can review it in their office, but as policy they do not email 'work product' to clients. This is frustrating to me because I feel I can better understand the documents if I read them at home, rather than being put on the spot in a meeting. Is this normal? [more inside]
TaxFilter: I need help with figuring out some tax stuff as an American who will working abroad, self employed. I have already read all the relevant IRS stuff so I need more than just links to Pub 54 etc. Naděje mi, prosím! [more inside]
I am a U.S. citizen. I moved to a foreign country on July 1, and will officially started earning income in the foreign country on August 1. If I quit and move back to the U.S. on July 1, 2016, will I receive foreign income exclusion on my taxes for both the 2015 and 2016 tax years? [more inside]
What does "writing it off" really mean? Explain it to me like I am a small child. When people say, "At least you can write it off on your taxes," is that really a silver lining? My personal scenario inside. [more inside]
The IRS made a mistake hugely in my favor. Yay! But I called them! Now what? [more inside]
Can I Trust formi9.com with my US Social Security Number and other Personal Information? [more inside]
I missed the deadline to file federal taxes, and Turbotax says it's too late to file an extension. What do I do? I estimate being able to file my taxes by the end of May, but not before then, but would like to not have the IRS breathing down my neck. [more inside]
I've having trouble understanding this chart, which was included in this article by Vox. It says that the US government's cost/net revenue is 0.66. Does this mean the US spends 62.5 cents for every dollar it takes in? [more inside]
I am really upset that we’re down to the last minute and my CPA has not finished my taxes or communicated with me since April 3. I haven’t paid him yet. I’m about ready to download Turbo Tax tonight and use his draft to double check. Would I still be obligated to pay him? What if I wait until tomorrow (which is going to make me extremely anxious)? [more inside]
TaxFilter day continues! In 2014 my mother-in-law made my wife a cosigner on her German bank account. The account is substantial (over €100,000 but under €150,000) and, of course, we need to fill out FinCEN 114 and IRS 8398. The instructions for IRS 8398 only cover "joint" account holders in the context of marriage. How do we approach this? [more inside]
We donated a service provided by a third party (i.e. "not us") to a deduction-qualified church. The service has a clearly established price of $150. We didn't pay for the service, because the right to the service was given to us in compensation for the provider botching another instance of the service. Can we claim a deduction on our US federal taxes for the normal price of the service? [more inside]
The IRS says they can't identify me and therefore cannot send me my tax refund. The web verification process doesn't work and every phone number I've found for them just gives an automated "we cannot handle your call right now" and hangs up - no option to wait on hold. Please see extended explanation for more details, thanks. [more inside]
How do I find someone I can trust to get US tax advice? [more inside]
How to record a federal and state overpayment of taxes in 2013 when that overpayment was applied to 2014 taxes. [more inside]
We have way too many filing cabinets taking up space in the home office and we'd like to digitize most of the contents and then shred the original physical items. I've read this document for retention best practices but it doesn't mention anything about digitizing. We're talking receipts, medical records, financial statements, etc. All sorts of goodies. In my mind, worst case scenario is we have to print out any records before submitting them but I could be totally wrong... Thanks!
I have a taxes and graduate school-related question for you all! Obviously, you are not my tax advisor, but can you shed some light on a very strange situation and suggest whether or not it's worth seeking professional help? [more inside]
My official residency last year was in GA with my mother, but I paid for my fiance's food, rent, and all living cost throughout the year. She is a resident of AL and the all utilities plus her apartment lease is in her name even though I paid for everything. [more inside]
Can a person who owes past federal taxes and has set up a payment plan with the IRS make voluntary contributions to her employer's retirement plan, provided she continues to make the payments to the IRS as agreed? [more inside]
California has a law permitting nonprofit unincorporated associations to enjoy many of the benefits of incorporation without actually incorporating. I am a member of such a nonprofit association. We are now applying for EIN for banking purposes, and I have some questions. [more inside]
I know that if you plan well with accountants, you can reduce your tax profile. At what income bracket do you actually get enough advantage from doing this and finding all the weird corner hidden deductions to well cover the expense of hiring the accountant in the first place? [more inside]
My ex-husband says we were audited and I owe half the tax bill!? Is that possible? [more inside]
I was unemployed for most of last year and began working as an independent contractor (no taxes paid up front) later in the year. I was not on any assistance. I was also medically uninsured the whole year and heard you have to pay a fee for every month you were unemployed. With this info, is there any way to estimate what my tax return will look like - whether I will get a refund or have to pay up - just so I can know what to expect?
I'll be changing my name very soon. Problem: My employer will also file my W-2 soon. I don't want mismatched documents to make SSA or IRS send a no-match letter. It'd inconvenience us both, and since this is due to a gender transition, it would also accidentally out me. Is there some time early next year when all the W-2 forms will be processed, and I can tell the SSA of my name change, then my employer, without triggering a no-match? Or is my best option to tell everyone ASAP and hope for the best?
At my company, I have a Roth 401(k) (post-tax dollars). The plan also allows "after-tax" contributions as well. (ie beyond the 401(k) limits). What's the name for those after-tax contributions, or what are they classified as, especially when rolling over or taking disbursements ? [more inside]
My parents called in a panic about what sounds like a scammy voicemail message on their land line. Problem is I just can't figure out the angle. [more inside]
What's the worst that will happen to me if I use my HSA card for a non-medical bill? Or a few. [more inside]
I am writing this on behalf of my almost-ex-husband. He has owed between $80,000 and $100,000 to the IRS since 2003 and has done almost nothing about it. More details inside. [more inside]
Regarding the gift tax, the IRS indicates that a gift does not count against the annual exclusion ($14,000), and is not taxable against the giver, if it is gifted towards a tuition payment. Would this also be the case if it was gifted to pay a student loan for someone directly to their lending institution?
I e-filed my tax returns by the due date but couldn't pay them because I didn't have the money yet. Now I have the money, but am running into the bizarrely antiquated IRS payment system. [more inside]
I donated four large bags of clothes to a Goodwill. They gave me a general signed receipt that confirms I donated something, but it is not itemized or contain a value on it. Should I just estimate this value when doing my taxes next year? Or will that be problematic? [more inside]
After filing my US taxes for 2013 on time, I've decided to bite the bullet and file my delinquent 2008 tax return. I am disorganized and no longer have any of my paperwork. I got a Wage and Income Transcript from the IRS site, which has all the info I need. Do I just file this transcript with my return in lieu of W-2s and 1099s? [more inside]
I owe the IRS a not-insignificant chunk of change. Is there some way I could benefit from this? [more inside]
In the USA, are we required by the IRS to distribute funds raised for a non-profit's group trip equally among all participants? [more inside]
Theoretically, say you are a small business/non-profit and you mailed off ~150 1099 forms to the IRS last week (deadline was 2/28). Say you came into work this morning and the 1096 summary form that is supposed to accompany the 1099s was found to have fallen out of the envelope and onto the floor before sealing. How would one go about resolving this?
There were a few years when I did not pay state or federal taxes. I'm not sure exactly which years, but probably 2001-04 is the window of time I'm looking at. I put it off until the last minute, then got overwhelmed by the paperwork and the forms and just gave up. I didn't make much money any of those years. I'm not even sure I owed taxes - in most cases I probably was due for a (tiny) refund. For the past several years I have worked on becoming more financially responsible and have regularly paid my taxes on time. I tend to forget about those years but when I do think about them I'm concerned. I'm just not sure what steps to take to resolve this. I'm not even sure which years I did not file. [more inside]
I need help understanding taxes. I have a very standard tax situation, with two W2s as a result of a mid-year job change. I left Job A three weeks into January 2013 and started Job B two weeks afterwards. I entered my info into TurboTax. Job B: ~$800 refund. Job A: ~-$800 refund. Now I'm back at 0. I'm confused and disappointed, and apparently I don't have any ideas how taxes work. [more inside]
Can a freelance / self-employed person (filing Schedule C) deduct from her taxes the cost of business travel (airfare, lodging) that she was later reimbursed for? [more inside]
Main details inside.. but the title pretty much says it. IRS and potential repo men involved. [more inside]
My mother receives spousal support from a divorce, but it was as a separate contract between her and her ex-husband, not included in the divorce order. She's been having sobbing fits, unsure if she owes the government taxes this year. [more inside]
Can anyone recommend a good 'affordable' accountant that could reach out to the IRS and get the straight scoop on an IRS mishap (on my part mostly) from 2007-2008? Would like to get this straightened out as soon as possible. [more inside]