My son, who owns a commercial trucking company in Celina, TX, paid his 2019 Heavy Highway Vehicle Use Tax (Form 2290) through a third-party service. He received a letter from the IRS stating the tax was not paid. He has tried contacting the IRS multiple times but has been on hold for hours. He has a receipt from the third-party service, but they advised him to contact the IRS. What should he do to resolve this issue?

January 24th, 2023

I have a traditional 401k and a Roth 401k at my current job. I'm leaving this job and won't have access to a 401k for a year at my new job. I want to roll over my traditional 401k to a Roth IRA and my Roth 401k to the same Roth IRA. Will I have to pay a 10% early withdrawal penalty for rolling over to another retirement account? Should I roll them over to related IRA accounts instead (traditional 401k to traditional IRA and Roth 401k to Roth IRA)?

July 30th, 2023

How should a non-refundable credit like the Other Dependent Credit (ODC) be applied when calculating a tax refund, especially when there is both an income tax liability and a refundable Earned Income Credit (EIC)?

May 23rd, 2024

My wife received an insurance company death benefit lump sum annuity check on 12/30/19 that was dated 12/17/19 and has yet to be cashed. Do we need to pay taxes for this on our 2019 tax return, and if so, how do we avoid an underpayment penalty since federal & state taxes were not deducted from it?

August 28th, 2024

Can a corporation deduct mortgage interest expense on Form 1120 for 2018, and if the corporation is on a cash basis, should the estimated federal taxes paid in 2018 be reported on Schedule M-1, line 2?

April 28th, 2023