Hello, I just finished filling out a 1041 tax return for a testamentary trust. I have never done this before and I want to make sure I did it correctly. I am a trustee for my son's trust, and I am located in Maine. What should I do to ensure the tax return is accurate and compliant?

November 13th, 2024

I received a Notice of Deficiency from the IRS for $4,081 plus $816.20 in penalties for 2017. The IRS is questioning my employee business expenses, which were not reimbursed by my employer, Aerotek. I have an Employee Agreement that states reimbursement would occur if the client, NRECA, agreed. I am considering appealing this decision but am unsure if I should do it alone or hire a tax professional. Additionally, I am concerned about the potential impact on my relationship with NRECA if I seek clarification on their reimbursement policy. What should I do?

October 7th, 2023

I am new to the K-1 1065. It has about 20 numbers from a PTP. The instructions say if this is passive income, do not use Schedule E. So, what do you use to report box 1? I already filed by listing the sales for the PTP's on 8949 and I also put box 1 on 8949 and I put the distributions there too. I could not find where to put numbers on 4797. What forms do I need, and what goes where? Please describe this with form number, item number, and column number.

August 7th, 2023

Why did the IRS send me (us) one individual amount ($1400) made out to two people during the third phase of the stimulus program, when in the first phase we received two separate checks of $600 each?

February 26th, 2023

I filed my 2020 taxes with TurboTax as a non-filer and should have received $1,800 back from my first and second stimulus payments, but haven't received anything yet. Is there a problem?

February 7th, 2024