asked
How is the government going to deal with individuals who receive 1099 forms from lenders for foreclosed properties, especially when the reported 'income' from such forms significantly increases their taxable income, and they lack the write-offs or funds to pay the resulting taxes?
October 15th, 2023
What is the payment schedule for worker's compensation cases prior to 2004, and how is the amount determined?
October 11th, 2024
I have a capital loss on Schedule D for 2009 of $408,000. Can this loss be carried back for the previous 3 years against gains in those years, or has the law changed and I can only carry it forward?
June 19th, 2024
I was laid off 5 months ago and am a single mom with children in college. I have no savings and only $11,000 in a 401(k) from my previous job. I've been working as a Realtor full-time since being laid off, but my income hasn't picked up as quickly as I hoped. If I withdraw my 401(k) money to help get me through for a few months, can I use a hardship exception by writing a letter of explanation to the IRS? Additionally, if I withdraw all the funds for a rollover to a Roth IRA, how many days do I have to transfer that into another account, and if I don't have the full amount, can I then use the hardship waiver with the IRS?
November 19th, 2023
How much income tax do I have to pay on a partial surrender of a life insurance policy? I am going to receive a partial surrender amount of $11,000 and my income is around $30,000. Should taxes be withheld now, and if so, at what percentage?
March 29th, 2024
My estranged wife filed as Head of Household (HoH) claiming herself and our kids, even though I pay all household expenses and child support under a restraining order. We are not divorced, and I believe she may not have been eligible to file as HoH. What are my rights to address this matter, and how can I file my taxes correctly?
January 21st, 2024