I received money from a foreign country in 2015 and 2016, over $500,000 each year, which I forgot to file in my tax returns. The money was received from my husband's parents and went to my husband's account. I do report my taxes and now I know these amounts need to be filed. What should I do, and do I need to file separate forms for each year?
March 14th, 2023
If you are paid wages for 11 years over the past 35 years, prior to turning 65, do you receive a minimum amount of Social Security when you retire? If so, what amount would that be. Also, what is the minimum amount each year required?
October 22nd, 2024
How do I calculate and pay taxes on a house I just sold? I sold the house for $186,000 and spent $90,000 on upgrades. Do I pay taxes on the full sale price or just the profit?
March 2nd, 2023
I am 70 years old and withdrew my entire traditional IRA of $46,000 last year for home repairs. I did not withhold taxes on the withdrawal. Must I pay taxes on the entire $46,000 as income this year?
January 26th, 2024
I am preparing a tax return that includes reimbursed moving expenses. I am trying to fill out form 3903-Moving expenses worksheet, but the wording is confusing to me. I would like to chat with someone who is experienced with reimbursed moving expenses that were added to the employees wages (including the taxes that were paid to a third party(Fed,Fica,Med,Mass). The only item in box 12 Code P I was told was for meals. I think I know how this should be recorded, but the 3903 worksheet does is not giving me the numbers I would expect.
December 16th, 2023
I just realized I was not able to report one W2. I am supposed to get a refund. Should I amend my tax return now or should I wait for IRS's notice?
February 17th, 2023