If I receive a 1099-K but never actually had my business back up and running or any goods/services exchanged, should I still just claim it as income with no expenses? The business account has since been closed on PayPal. I had sent money to myself in anticipation to use that to purchase inventory and start the business back up but it never came to fruition so when the account closed all the funds transferred back to me but it was enough to issue a 1099-K with this new law.

December 12th, 2023

My elderly mother's only income is her social security, and she received $770 in interest this year. Do we need to file a tax return?

May 19th, 2024

If we add a U.S. citizen to our foreign corporation as a partner who will live in Denver, CO and participate in lead generation, but the company operates from Colombia with no physical location in the U.S., will that automatically convert our sales into U.S. source income?

November 15th, 2024

I need help filling out my 2020 W4 form to maximize my paycheck without owing the IRS when I file my taxes. I am single, work in Indiana, and am currently being taxed for two different states. How can I adjust my W4 to ensure I get the most pay possible and stop being taxed for Michigan since I no longer live there?

July 12th, 2023

My 2022 tax return was rejected. I used TurboTax to file and would like to continue using them. What could be the reasons for the rejection and how can I resolve it?

December 22nd, 2023