Latest threads in Taxes General Forumshow only best voted threads
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Client hasn't filed since 2005, what's the best way to submit returns?
This person will probably owe about $15,000 in back taxes and hasn't filed since 2005. I'm wondering what the best way to submit this many returns might be. Each year until 2010 has had about $2,500...
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12 years ago
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1041 and K1
I have prepared a relatively simple 1041 for the estate of my B-I-L. Income is Interest, divs and small CG. Deductions and exemption leave estate with no taxable income - no problem. Now come the...
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12 years ago
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Does NV employer have to withhold MA tax?
I changed jobs a few weeks ago. My new employer is a tiny company (less than 10 regular employees, plus lots of contractors). The company is headquartered in Las Vegas, but the employees are all over...
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12 years ago
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IRS Letter 4809
Today I got a Letter 4809 from the IRS pointing out that I prepare a lot of returns with Schedule Cs (admit). The letter advises me that I should follow certain procedures to make sure that Schedule...
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12 years ago
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Stipend taxability?
Need some major help please. IRS is sending me a huge bill! I received a $15,000 stipend from the NM Dept. of Health. Finishing my graduate nursing degree. I have promised to work in NM for 2 years in...
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12 years ago
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2 Estim. Tax Payment Questions, Please.
Please help me --- this will be EASY for you, but for me my eyes are crossing with the double negatives the IRS "explains" things with. My situation: Tax paid in 2010: $12K Withholding & credits in...
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12 years ago
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Phishing scheme targeting tax professionals (from IRS Web site)
0709, - EMAILS PURPORTED TO BE FROM OPR* It's come to our attention that a number of tax professionals, IRS employees and others are receiving emails purported to be from the "IRS Office of...
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12 years ago
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Is $700 too much for a CPA to file form 8939?
We have to file an IRS form 8939 with respect to my mother's estate (she died in 2010), and the accountant in charge of the estate is quoting us a price of $700 to prepare and file this form. I looked...
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12 years ago
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Front foot fee
Normally in Maryland Property tax charged by county consists of Front foot fee in addition to normal property taxes. These are tax deductible as it comes as part of 1099 issued by Mortgage company....
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12 years ago
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IRS 'corrected' 2010 1040 and excess refund needs to be repaid
I have a case where the IRS 'corrected' a 1040 filed MFJ for a 20 year old grand-daughter and her spouse married at the end of 2010. The grand-daughter was in school full-time for 2010 and was claimed...
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12 years ago
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W4- Question about working spouse
This is something that I always wanted to know. My wife works as a 1099. I file her taxes regularly every quarter. I should say that she makes in a year something between 5 to 10% of what I make. When...
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12 years ago
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Bad luck or accountant's error?
My accountant filed a 1116 that simply said "various" under countries involved. There were probably a dozen or so countries, and the brokerage statement gave no information other then the foreign...
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12 years ago
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5% cap gain rate on sale of main home?(!)
A non-authoritative webpage titled "Long Term & Short Term Capital Gains Tax Rate 2011, 2012" [1] states under the title "Long Term Capital Gains Tax 2011 Held Longer Than One Year": "Real Estate...
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12 years ago
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offsetting LT gain on sale of main home with capital losses?
IRS Tax Tip 2011-35, February 18, 2011 [1] states: "4. You may deduct capital losses only on investment property, not on property held for personal use". But IRS Pub 523 [2] example 2 (p. 24) shows...
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12 years ago
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Best way to dispose of residence in estate, tax-wise?
Hypothetically, what is the best way tax-wise to dispose of a residence in an estate when the owner dies? If it makes a difference, assume the residence is part of a living trust. Also assume there is...
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12 years ago
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