Upon discharge from the army, I was paid severance of approximately $11,000, from which federal tax was withheld. I subsequently received a VA disability payment which was discounted $150 per month until the severance amount was paid. Now, the VA is claiming the difference (the amount paid in tax) until the total is paid in full. Can I refile to claim the amount of tax paid on income I have paid back, and is there a limitation to the amount of time they (VA, DFAS, or IRS) can seek repayment for a mistake they made 8 years ago?

August 19th, 2023

I owe the California BOE over $30000 and am barely employed with no foreseeable way to pay them back. Is there any way I can go to an "uncollectible" status?

June 7th, 2023

Is a consulting service company taxable, and who pays the taxes on a bill from a consulting firm if no tax charges are included?

November 22nd, 2023

In partnership taxation, how does the pass-through income from an LLC to its partners work, and do partners pay additional taxes such as Social Security on these earnings?

May 20th, 2023

For an S Corp, is a shareholder distribution considered an expense to the company? For example, if a company made $50,000 and the shareholder distribution is $50,000, does the business income come to zero, especially considering a significant salary paid to the owner on payroll?

March 22nd, 2024