asked
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
Box 2a of my statement of annuity reads unknown. How do I calculate the taxable amount of my annuity?
February 1st, 2023