I’m an American living in Tokyo for 2 years. My parents want to gift me $6000 into my rolling IRA this year. They are worried about the need for me to file taxes in America. I am protected from double taxation because of the treaty with Japan and America. I’ll be doing my taxes in Japan. Questions: Do I need to prove I earned at least $6000 to the USA gov if they gift it into my rolling IRA? If so, what form? Is there anything else I need to be doing with my taxes for this? Will the American govt accept my income slip in Japanese? Should I be filing a tax exemption form every year while working in Japan? I was told before not to file anything in America if I don’t make enough to pay taxes (except once every 3 years). Which I don’t make enough to owe tax.

August 16th, 2024

I took money from an IRA in 2020 under the CARES Act. Can I pay the taxes on the money borrowed in 2020 instead of returning the money to my IRA, given that I am 67 years old and semi-retired?

January 2nd, 2024

My wife didn't pay her taxes for 5 years (2013-2018) and I didn't pay my taxes for those years as well. We are now on a payment plan with the IRS for the remaining balance. Can I refile my own taxes to separate myself from her, as my tax burden was much less since I made less money?

September 7th, 2024

I formed an LLC in October 2021 and received a request from the Texas Comptroller for a franchise tax annual report. I am unsure how to fill it out, especially regarding whether I owe any franchise tax and what period the gross annual receipts should cover.

December 8th, 2023

I need to sign up for the program that allows a specialist to prepare or review my return. I earn $100,000 from Kensington, and the remainder of my income is social security, a small pension, and interest totaling $65,572. My wife and I file jointly. Can I use the QBI for the entire $100,000 since I am below $326,600? What happened to my account from 8-10 years ago?

August 7th, 2024