As a self-employed individual, I took draws of $2,000.00/wk in 2016, resulting in a profit of $9,000. I learned that the profit is considered my income proof. Is it better not to draw anything if possible throughout the year, and how should I report my draws for tax purposes?

March 4th, 2024

I want to find out my total tax owed for years 2015 and 2016. I have a payment installment agreement and am paying on 2016, but I need written verification of how much I owe for both years. How can I obtain this information?

March 12th, 2024

How do I apply for a replacement social security card that was stolen 30 years ago? My card was stolen out of my car in 1985. How do I get a replacement and do I need one? I am 61 and have MS and may apply for benefits soon.

September 24th, 2024

My husband was recently released from his job and has a 401(k) that needs to be cashed out, rolled over, or transferred. We realize he will face a penalty and pay taxes on the amount if he cashes it out. Will this amount also count toward taxable income for the year, or will the amount taken out for taxes upon cashing it out cover the tax responsibility?

August 18th, 2024

I am the executor of my grandmother's estate in Georgia. I transferred the title of her home into my name after her death and sold it for $97,000, distributing the proceeds to the heirs. Since the house was in my name, I received a 1099. How do I communicate to the IRS that this is not taxable income for me?

June 20th, 2023