asked
If my child has a personal physical injury settlement agreement that states the payment is for physical injury and cites 104(a)(2) in the settlement agreement, saying it's tax exempt, should I be sent a 1099 and told by the risk pool that their records say the payment received is for a non-physical injury claim, which is a lie, and should I be led by them to claim my loss of consortium that is attributable to my daughter's physical injuries as taxable and claim the attorney's income earned from the settlement too?
March 25th, 2023
Can I deduct the use of home updates for tax breaks, specifically a new efficient furnace, windows, and siding for my primary home? I am now a widow and considering filing as head of household. Should I take a standard deduction or itemize, and what are the guidelines for itemizing expenses?
June 26th, 2023
I was divorced in April 2022 and did not update my tax withholdings with my new job. My ex-spouse filed married filing jointly a month before leaving, resulting in me owing $7,000 to the IRS. I live in WV, my primary source of income is through my employer, and I received his IRA, paying penalties and taxes on the cashed-in amount. What options do I have to address the tax debt?
February 3rd, 2024
I received a letter supposedly from the IRS notifying me that a company had filed a 1099-INT form for my SSN. I looked up the EIN and it seems to be a phone company, AVA C LLC, in Panama City Beach, FL. Is this a scam, and what should I do if I can't contact the company and the letter seems suspicious?
March 31st, 2024
I received a $5,000 fellowship during my senior year in college from a non-profit, and they sent me a 1099-NEC form for 2022. I was never a subcontractor or employee, and the fellowship was more educational than work-related. Should they have sent a 1099-NEC, or is there another form that should have been used?
September 14th, 2024
Where do I find the ID number for an employee who works for us in California but lives in North Carolina? The payroll company says we have to provide an ID number from North Carolina for this employee for payroll setup.
May 13th, 2023