asked
I withdrew money from my IRA account and replaced it 30 days later. The clerk who handled the transaction was either fired or left her job and did not return the money to the IRA. The money was supposed to be withdrawn from a joint account to avoid penalties. Five months later, part of the money was returned to the IRA without my knowledge. The broker does not acknowledge any responsibility, and I now have an obligation to the IRS. Is it legal for the broker to return money to the IRA account 5 months later without my knowledge, and do I have any case against the broker?
January 28th, 2024
How do I update my address and contact information with the Social Security Administration (SSA) and the IRS, as it has changed?
September 20th, 2023
I need the IRS Form W-4P sent to my email account. Can you provide a blank form for me to fill out and send to my insurance company?
November 25th, 2023
I am a sole proprietor using the same checking account for both business and personal transactions (planning to split them soon). I'm currently entering business-related line items into the QuickBooks business account and personal items into the QuickBooks personal account. How do I reconcile the bank account in this situation, and how should I handle entries that need to be logged into the other account? Specifically, if I don't log business payments into the personal account, it will show a deficit. What is the best way to manage this?
November 13th, 2024
Is income considered an asset when determining insolvency with the IRS, and if a co-signer receives a 1099C for cancelled debt, will the IRS come after the co-signer for tax on that debt?
August 4th, 2024
My wife and I sold our primary residence in Oakland, California, in November 2018. I had retired and over the 5 years before the sale, I resided in our California residence for 2 years off and on as I traveled to Oregon and spent time there in a rental. My wife spent only about 150 days in our California home as she was in school in Oregon. Can we claim a $250,000 deduction from the sale profit on Schedule D?
July 5th, 2024