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I filed my 2019 tax return correctly using TurboTax. However, a lump sum distribution pushed my MAGI over the limit for the healthcare marketplace subsidy, resulting in a $20K debt to the IRS with penalties and interest. My IRS Tax Advisor initially guided me on the correct forms for an Offer in Compromise (OIC), but I was later told I used the wrong form and received a letter stating I withdrew my OIC with no right to appeal. I'm seeking the best resolution to this situation.
October 26th, 2023
Our NY State-based LLC sold a rental property in 2021 after owning it for 2 years 9 months. The LLC has three members: two Americans living in CA each owning 40% share and a foreigner living abroad owning 20% share. The LLC has to pay long-term capital gain tax (both Federal and NC) and depreciation recapture tax, right? What tax rates are applied?
February 15th, 2023
My mom passed away on November 5, 2021. Do we need to file taxes for her? She was receiving a pension and Social Security benefits, and both agencies were notified at the time of her passing. She lived in California.
September 2nd, 2023
Where is my 2020 tax refund?
February 20th, 2024
How can I check the status of my 2020 taxes when the system has been updated for 2021, and I e-filed last year but haven't received my refund yet?
October 8th, 2024
I filed my 2020 tax return electronically four months ago requesting a $1200 and $600 stimulus payment, but I haven't received the payment yet. I am single and made zero in 2021. What should I do to check the status of my stimulus payment?
December 24th, 2023