I received income from an estate in March 2022. The estate is required to file a 1041 return and send me a K1 to report the income no later than 4/15/22. There will be a discrepancy between the estate’s K1 and my tax return since I wouldn’t report the income until I file my 2022 taxes, based on cash accounting for the income received in March 2022. How should I address this?

July 16th, 2023

What do I need to do to get my stimulus checks, especially the second and third ones, since I received a partial payment for the first one and I am disabled and collect SSI?

January 9th, 2024

How should I declare deductions on my W4 if I am single with itemized deductions, and if I deduct $100 of federal tax from each pay period and donate that money to a charity, would I need to pay back the federal tax?

May 4th, 2023

I received a letter, Notice CP80, stating I have a credit on my account for $1,438.00, which was the amount I paid for my 2020 Federal Income Tax. The IRS cashed my check, but claims I haven't filed my 2020 Taxes. The check was in the same envelope as my 2020 Tax filing. Have they lost my filing, and do I need to resend a copy? What is the current status, and will I get into trouble if I don't refile?

October 21st, 2024

If a client is flipping houses and not yet sold, can the capital expenditures be expensed on Schedule C?

July 12th, 2023