I received an IRS notice indicating I took out $65,000 from my See's Candies Retirement account in 2020. I don't recall getting a 1099R from Wells Fargo Retirement Services and have requested a copy from Principal, who now owns our Retirement accounts. The IRS is proposing that I now owe an additional $21,718 in taxes and penalties for 2020. My husband and I have a payment plan with the IRS for another year, automatically deducted every month from our checking account. Can you provide me with what our balance is on that account? I also want to know if I can add this balance for 2020 to the payment plan. We are struggling now paying back a student loan for my daughter of over $80,000.

May 18th, 2023

I have filed my 2021 taxes twice, and have not received my refund. I mailed my taxes in March and May. My account online shows that they are not processed. What should I do?

April 22nd, 2023

A taxpayer purchases a car used exclusively for business at a cost of $122,000. Will the car be able to be fully depreciated, and if so, under what conditions and limitations?

October 5th, 2023

I haven't received my tax refund and filed my return in April. How long should I expect to wait for my refund, and how can I check the status of my state refund?

November 9th, 2023

If an LLC is owned by a Living Trust that has both the husband and wife as owners, will the LLC be considered a disregarded entity or a Partnership?

January 10th, 2023