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My husband and I have been together for 14 years but were just married in 2019. We are looking to buy our first house, but I just found out he owes the IRS back taxes of $17,000, which is almost all our savings for a down payment. The IRS says we make too much money jointly to qualify for an Offer in Compromise, but we're not rich, and this debt affects our entire savings and stock investments. We don't own anything else, not even our cars. Is there a way to lower this debt, and how does it affect our joint accounts and future home purchases?
March 29th, 2024
I need assistance with filling out the 2019 IRS 1040 form using a 1099-R. Can you guide me through the process?
September 20th, 2023
I haven’t received my $600 social security stimulus check yet. I haven’t filed taxes since 2018 and I’m strictly on social security. I moved in 2019 and my first stimulus check was sent to my daughter's address based on my 2018 taxes. I changed banks but social security has my correct bank info. How can I receive my stimulus check and what steps should I take?
January 13th, 2023
I took out my RMD at Fidelity in March 2020 for $22,725 and paid it back in April. My federal and state taxes were already taken, and I would not get them back until 2021. I converted to a Roth for the same amount, and the tax withheld would be the same. Fidelity's 1099 shows $45,450 on line 1 and taxable $45,450 on line 2. How should I report this on my tax return?
July 19th, 2024
I live and work in Missouri remotely for a company in California as a W2 employee. They are only withholding California state taxes from my paycheck. Shouldn't they be taking Missouri taxes instead?
August 4th, 2023
What do you recommend to prevent property tax reassessment due to CA Proposition 19? My primary residence is currently in a revocable trust, and some have suggested establishing an irrevocable trust or an LLC.
September 3rd, 2024