I received a 1099 from a merchant after negotiating a lesser amount to pay off a debt. Why do I have to declare this as income, and can I avoid paying taxes on it if I couldn't afford the original debt?

April 26th, 2023

I need assistance with IRS free files. I am located in Ponce, Puerto Rico, 64 years old, have no dependents, and my filing status is non as I am a social security recipient. I want my stimulus check to be deposited in my direct deposit in Puerto Rico. What should I do?

January 20th, 2023

If my father claims me as a dependent, can I still receive my tax refund and stimulus checks, and how should I file my tax return?

July 3rd, 2024

What form should I use to report payment for services such as CPA and legal, 1099-MISC or 1099-NEC?

June 24th, 2023

My husband and I have been together for 14 years but were just married in 2019. We are looking to buy our first house, but I just found out he owes the IRS back taxes of $17,000, which is almost all our savings for a down payment. The IRS says we make too much money jointly to qualify for an Offer in Compromise, but we're not rich, and this debt affects our entire savings and stock investments. We don't own anything else, not even our cars. Is there a way to lower this debt, and how does it affect our joint accounts and future home purchases?

March 29th, 2024