I have noticed a big difference in my taxes from last year. Most of my details remain the same. Is there any way to avoid paying the ACA penalty? I did not know to file an exemption by January 1st but am pretty sure the bronze plans cost exceeds 8.16% of my income. I paid the penalty last year and still got a few hundred back but it says I owe this year.

July 11th, 2024

I am trying to file my 2018 taxes and need to get an IP PIN. How do I obtain this IP PIN?

November 22nd, 2024

For a jointly filed husband-wife Federal and MN State Income Tax Return, what are the standard deductions for MN State for 2018 and subsequent years? Additionally, clarify the deductions allowed for the following in MN State Tax Return: (1) Interest on a loan borrowed against a rental house property used for any purpose, (2) Interest on an educational loan for a child, and (3) Property tax paid on a self-occupied home.

August 28th, 2023

I have a client who did not file their 2013 tax return. In 2015, I prepared the return showing a refund, but it was never mailed. Now, past the 3-year filing period, they are facing a levy for not filing a Federal return. They mailed the 2013 return in 2018, but it was returned by the IRS for lack of a signature. They have an NOL in 2014 and filed an extension for 2014, giving us until 10/15/18 to carry back the NOL to 2012 and 2013. Should I ignore the unsigned 2013 return and file a new one with the NOL carryback? Will the IRS flag a new filing? Should I explain this to the IRS, and what does the "cleared by statutes" stamp mean?

April 12th, 2023

I donated $13450 to my local church, which is the majority of my deductions. When I enter this amount into H&R Block Tax Cut software, I owe $808 to the Federal government. However, if I enter $13 instead, the amount I owe increases by only $200. Given the changes in standard deductions, does this seem reasonable?

November 3rd, 2024