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I received a $20k income charge from the IRS for debt from the Great Recession. I provided documentation showing I was insolvent for the 2017 and 2018 tax years, but the IRS calculated my revised income plus penalties for underreporting. I am 67 years old, own nothing more than debt, and have struggled financially since 2009. What steps should I take to address this situation?
June 24th, 2024
How can I change my bank account number that was on my 2019 taxes for receiving future stimulus checks?
August 26th, 2023
TurboTax won't let me code 'MN' for the state code on my 1099. What should I do?
July 12th, 2023
Can I carry back my Section 1256 losses from 2020 to tax years 2019, 2018, and 2017, and would that require resubmitting new 1040X forms for those years? Has the new Tax Cuts and Jobs Act (TCJA) stopped such carrybacks from 2020 returns?
November 20th, 2024
Where do you report PPP loan forgiveness on 1065?
October 3rd, 2024
I was using TurboTax and spent the entire day entering my return. Now when I try to enter TurboTax again, it asks me for my downloaded code which I don't remember. What do I do?
May 7th, 2023