I held 7500 shares of IGT in 2015. IGT was bought out, and some shares were sold while others were converted into the new company, IGT2. I used the basis for all 7500 shares in 2015, as the Scottrade statement showed all were sold. However, I then acquired 1364 shares in IGT2, and I don't know what the basis for these 1364 shares is. My Scottrade statement shows the addition of 1364 shares of IGT2 with no mention of a stock price or cost. Does this mean my basis for these shares is $0.00?

May 26th, 2023

I started a part-time independent contractor job last September while working full-time at a university. I made $1460.27 in part-time salary last year and did not pay any federal taxes, only $75 for state taxes. I feel I may owe around $150 (approx. 10% of my salary) in taxes for this job. Am I right? What do I need to do to pay this to the IRS? Should I be preparing to submit my January-April taxes to the IRS?

October 11th, 2024

I need a copy of my company's IRS Form CP575. I have my EIN and all the necessary information. How can I obtain this form?

April 24th, 2024

I owe $2,767 for my 2017 taxes and initially sent $300. I received 1040-ES 2018 payment vouchers suggesting 4 payments of $692, but I can only manage 8 monthly payments on my Amex card. How can I adjust my payments to be more manageable and ensure they are applied correctly to my 2017 tax liability?

June 29th, 2023

I need help with making sure I have my business taxes in order. I started a business with two others in 2018 as an LLC in California. We have made no money to report, only expenses. I need to know how to ensure I'm doing the right paperwork for the state and the feds. I know I won't have to pay the feds, but I'm not sure about the state. What is a franchise tax, and how do I file and pay it?

December 9th, 2023