Our church in Crittenden County, Arkansas, is being asked to report a Commercial Property Rendition Form, even though churches are exempt from being assessed according to ACA 26-3-201. We are concerned about potential financial penalties if we don't comply. What should we do?

December 12th, 2024

I owe back taxes for 2008 and 2009. I have already paid some amounts, but I received letters from the IRS asking for more. I don't have the money to pay this additional amount and I'm considering borrowing money to pay a gift to my granddaughters instead. Would this be considered a gift tax? Can the IRS forgive penalties and interest?

July 6th, 2024

I withdrew an IRA from Fidelity in mid Dec 2018. This was intended to be used as a payout in a divorce, but it has not been used yet. I've heard that I can put it back into an IRA within 60 days. Will I still be penalized for taking it out before 59 1/2 years old, and will I still need to pay income tax on it? If so, is there anything I can do to mitigate these taxes?

April 30th, 2024

Can I pay my 1099 tax return under my friend's name and SSN if my employer agrees to change the name on the 1099 form to my friend's name and SSN?

May 13th, 2023

If I turn 70½ in October and take my minimum withdrawal before the first of the year, do withdrawals taken after the first of the year count toward my 2018 or 2019 taxes? I want to take out most of the money but don't want to pay 2018 taxes on anything but the minimum.

October 27th, 2024