How do I report the remaining loss (the difference between his basis and prior year's losses) for the 2013 tax year for a shareholder in an S-Corp that was dissolved in 2013? The shareholder had basis and reported the total amount contributed on the balance sheet of another 100% owned S-Corp as a "Note Receivable". The money was never paid back and is nonrecoverable.

August 22nd, 2024

I need a copy of my 2018 Social Security tax form, which I believe is a 1044 form. I already received one, but I can't find it, and my accountant needs it now for my tax extension. How can I obtain another copy?

November 15th, 2024

I have a friend, a 72-year-old man with a fixed income from social security, who owes $28,000 in state tax (mostly penalties) to the DMV dating back to 1998 to get his driver's license back. He does not have the means to pay this debt and is distressed. I want to connect him with a tax advocate agency but have had difficulty finding one. Any suggestions on where to look or who to contact to help him resolve this matter?

November 1st, 2023

I received a letter from the IRS regarding a credit and they haven't received our tax return for tax year 2018. The letter refers to Form 941 and the quarter ending September 30, 2018. We owned an apartment house that was sold in July and had no payroll in that quarter. I've been unable to reach the IRS through their 800 line after multiple attempts. What should I do?

July 17th, 2023

If I bought a single-family house in 2010, lived in it until 11/2015, and rented it until now, will I avoid capital gains tax if I sell it by 11/2018?

February 21st, 2024