asked
I borrowed against my 401K and received a 1099 at tax time. I am paying the loan back but was still forced to pay $10,000.00 in taxes on the money because I could not get an amended 1099 from my company. Why am I paying taxes on this money if I am paying it back and how can I get back that $10,000.00 and get the company to give me an amended 1099?
March 25th, 2023
Does a charitable foundation, bringing used books to food shelters for children and having receipts of less than $5000.00, need to apply for a 501c3 status or a tax ID number to record smaller donations, and can it inform donees that it is considered a 501c3 charity?
May 5th, 2024
I am a CPA in California and need guidance on CA tax law regarding missionaries receiving 1099s from a funding organization in CA. The missionaries work overseas, but CA wants to tax them. Is this an area you cover, and if not, do you know of any other states that might offer similar information?
June 4th, 2023
I want to appeal a Social Security benefit decision for an overpayment. They are taking the whole monthly benefit, leaving me with nothing each month. I want to make payment arrangements so that I can get some benefit each month to live on. What are my options?
May 8th, 2023
I was recently approved for form 4361 and am trying to complete form 1040X but am unsure how to do it. I made $32,493 from my job and $20,337 from my ministry. I initially reported the ministry income as wages, salaries, tips, which increased my AGI and resulted in owing more taxes. Should I amend my tax return to reflect the correct reporting of this income, and if so, how should I proceed?
November 7th, 2023
Can my fiancé, as the non-custodial parent with a court order signed in 2010, claim his child on his taxes if the mother has physical custody in Texas, we reside in California, and the divorce decree was finalized in Virginia?
June 20th, 2024