Mark H. asked
I am a widow and my husband had a pension. I received a lump sum plus a small monthly payment. Do I file an estimated income tax for the amount received, or do I count it as income on next year's taxes?
March 5th, 2023
Derek B. answered
If the pension payment is a one-time event and will not repeat next year, you do not need to file an...
March 5th, 2023
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In making a 481(a) adjustment for an S Corp that has always been an S Corp and has just reached $10,000,000 in gross receipts, forcing a switch from cash to accrual basis, how do you account for the difference in retained earnings?
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I am a tax professional and received a payoff calculator from the IRS practitioner line showing my client owes taxes from 2000-2004. I asked the phone person at IRS if this would include the date tax assessed, but the information provided did not include this. Since these are beyond the statute of limitations, this seems important. What form gives this data, an accounts record?
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Where is the best place to report health insurance premiums paid by a >2% S Corp owner, which were not included in his W2 (100% owner)? He also has Schedule C income, and the premiums were paid by the S-corp. He's a conservative client.
June 6th, 2023
How do I verify that I'm receiving the maximum Social Security and SSI benefits?
July 10th, 2024
On Form 6251, line 6, it seems that taxes are added if your income is lower. I'm reading the instructions as entering taxes from line 9 of Schedule A as a negative amount with lower income and as zero with higher income. What am I missing?
May 29th, 2023
