I received letter 5071C today to verify my identity. I am 84 years old and not computer savvy. My son helped me do my taxes with TurboTax. This year I am getting a big return because I paid 2 quarterly payments and had $3405 taken out of my RMD. Last year, I forgot to have money for taxes taken out of my RMD and had to pay around $5000 extra in taxes. This year, according to TurboTax, I should get a $3,405 refund. I am very much afraid of the computer because I don't understand it and I think that I will make a mistake. I tried to call the IRS twice yesterday. Please help me. I haven't slept all night worrying about this.

August 16th, 2023

I receive SSI and recently changed my payee. However, a family member went behind my back and changed my payee to them without my consent. Do I need to get a lawyer, and what steps should I take to resolve this issue?

April 17th, 2024

We own a cattle ranch and a rental properties business, both as LLCs in Texas with two members (myself and my fiance). All properties are owned outright. Would there be tax benefits for the ranch to pay rent to the rental property?

September 17th, 2024

I have already submitted my 2021 tax form and been charged $904.00 in taxes owed. I paid $4000.00 in estimated taxes to the IRS during 2021 but did not include this information on line 26 of my 2040-SR. What should I do now?

December 1st, 2024

A taxpayer takes a distribution of $40,000 from his 529 account to pay for his college tuition. Of the $40,000, $15,000 is earnings and $25,000 is basis. The taxpayer's Form 1098-T shows tuition payments of $30,000 in block 1. The additional $10,000 distributed was for on-campus room and board. Is a portion of the $15,000 of earnings taxable?

May 2nd, 2024