I have already filed my taxes and just found out I didn’t have the insurance that I was penalized for. I was told I had to pay taxes because I went over the allowed amount and do not have tax insurance. I spoke with my agent, and they are not one of them, although they have me in the system as having it. What should I do to resolve this issue?

December 19th, 2024

I have some questions about Form 5472. I just started before the end of 2022 and don't have any money transfers between me and the US corporation. The only transaction that may be reportable is the formation fee of $102 and the registered agent fee of $49 (total $151). Does it qualify as a reportable transaction, and in which line do I have to type this?

April 8th, 2024

What is the name/number of the federal tax document from the IRS for filing taxes?

June 19th, 2023

I'm filing my son's extension now with a payment, but it is insufficient and he will owe a balance. He has additional funds coming in at the end of April and May, which he wants to apply against his 2022 federal and NYS tax liability. How do I apply these funds to his 2022 tax liability?

October 28th, 2024

I have a question about entering selling expenses on a business rental property sale. Who can help me? Specifically, I need to know what expenses listed on the Closing statement (e.g., transfer taxes, legal fees, special assessment paid off) should be included in the selling costs and how to handle them in my tax software (Turbotax). Additionally, I want to confirm if a $27,000 special assessment paid to the association can be included in the selling costs.

April 11th, 2024