Bill, you provided an answer about my defaulting on a 403b loan in 1989. I need the actual law stating that I can never get another loan.

July 4th, 2023

I need to take money out of an IRA precious metal account before I'm 59 and 1/2. I understand there are extra penalties to pay to the IRS. I need to know if I need to file IRS Form 5329, what the voluntary state tax would be, and if the federal tax is 10% plus 20% for federal plus state. Additionally, I've been out of work for a year and need to pull resources out of my IRA precious metals account. Is there a hardship clause or any tax breaks available?

October 14th, 2024

I am trying to file New York state tax returns for two different companies: an LLC treated as a partnership with a $0 return for 2018, and an S-corporation with a $14K return for 2018. I am late with the filings and need to know which forms are required for each company, whether I need to complete IT-2659, and if there are any additional filings required for NYC. Additionally, I want to know if there are any taxes, interest, or late fees that the state or city can impose, and what forms are required for personal returns on the state/city levels.

December 22nd, 2023

How do I report the remaining loss (the difference between his basis and prior year's losses) for the 2013 tax year for a shareholder in an S-Corp that was dissolved in 2013? The shareholder had basis and reported the total amount contributed on the balance sheet of another 100% owned S-Corp as a "Note Receivable". The money was never paid back and is nonrecoverable.

August 22nd, 2024

I need a copy of my 2018 Social Security tax form, which I believe is a 1044 form. I already received one, but I can't find it, and my accountant needs it now for my tax extension. How can I obtain another copy?

November 15th, 2024