TurboTax will not accept my self-generated EIN number, preventing me from e-filing my tax returns. What should I do?

December 1st, 2023

Where does Canadian Tax paid go in a K-1, and how does it affect my return?

January 28th, 2023

I have not filed 2011 income tax returns and need them processed as soon as possible for a mortgage application. The lender requires transcripts from the IRS. What is the quickest way to have the IRS process these late returns? Should I mail them or take them to a local office? Will they process these in 6 weeks?

July 9th, 2023

We issued a 1099 to a person, but we found that we did not include all the 1099 money. Can we give him an additional 1099 to cover the omitted money from the first 1099? We used efileforbusiness.com to file 1099, but they do not do corrected 1099s. Which online filing service does corrected 1099 this late? I assume I cannot file paper 1099 now with IRS since it's past the deadline for 2012, is it not? Where do I send the corrected 1099 along with the recipient? What is the deadline for me to file corrected paper 1099s?

August 25th, 2024

I have a client who received a 1099-C for cancellation of debt on a real estate loan. I am completing the Worksheet for Foreclosures and need to determine the adjusted basis of the transferred property on Part 2, line 7. Is this the net book value of the property, and how do I determine this amount? The property is a rental property.

February 1st, 2023