Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
State income taxes, working from home
30+ years ago, I worked and lived in Massachusetts. My office-mate lived in NH, a state with no income tax. I had to pay MA tax wherever I worked. When we went on a business trip to another state...
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You have an extension to file your 2021 tax return???
I logged on my IRS account and saw a message saying "You have an Extension to File you 2021 Tax Return." What does this mean? I filed an extension before the due date and mailed my tax return forms on...
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Massachusetts Income Tax Penalty M-2210 (2023 Update)
I accidentally asked Massachusetts to figure out my penalty for 2021 and it gave me a small penalty, less than $50. I have appealed and filed M-2210 with part 2 filled out for 2021 because our...
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Unemployment 1099
I received an inquiry from someone who is starting a private company that will provide unemployment insurance. (Yes, I know it doesn't make any sense. But it's not my job to question that at this...
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Foreign Owned LLC
I ran across something I don't understand and I hope you can help. A non-citizen has a single-member LLC in the US. He's required to file Form 5472 - no problem there. But does he file Form 1040-NR,...
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Contacting the IRS
What's the best way to contact the IRS. It's looking like 'snail mail' is the only viable method. Is there any point in calling the IRS? Do they ever let you through? Why do they have you answer a...
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Reinvesting most of this year's RMD
I have a taxable account and a traditional IRA at Vanguard. Both have index funds in Vanguard ETFs. For ease of discussion, let's say my RMD is $20,000 but I need only $4,000 of that for living...
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LLC for EAs?
I have a question for the EAs out there. Is it permissible for an EA to set up his or her business through an LLC. Here in California many professionals who are licensed by the state are only allowed...
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Is this a wash sale? (2023 Update)
Scenario: * Taxpayer has three separate accounts. * Prior to any of this taxpayer has zero shares in XYZ anywhere. * On the same day, taxpayer buys some XYZ in all three accounts. * On a later day --...
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Qualified Opportunity Zone Investment
A friend's father passed away and she is selling the inherited house which was used as a rental property. She has 2 siblings, so my round numbers are gross, and 1/3 flows to her. The house was bought...
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Mixture of 3 kinds of IRAs
I have a regular IRA a SEP IRA an inheritied IRA from my mother Next year I have to take my first RMD(s). Can I add the year end value of all 3 kinds to determine the total RMD amount and then take...
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Roth Conversion As A 60-Day Rollover?
For some accounting reasons I would like to do the following, if possible: 1) Make a monthly withdrawal from an existing traditional IRA (I am over age 59 1/2). 2) Within 60 days, deposit the money in...
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Renting an Apartment to Somebody in Switzerland
The following message was posted on another forum that I read: "I am Swiss, living in USA, Permanent Address, Green Card, married to an American man with only American Passport. I plan to rent to...
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Reporting a payment on behalf of another on 1099-MISC (2023 Update)
Is anyone familiar with circumstances in which payments of monies received on behalf of another are reportable other income payments in box 3 of Form 1099-MISC off the top of his head? Reg...
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Roth Withdrawals
I am helping my newly self-employed nephew set up retirement plans. Am I correct that: a) You can withdraw contributions, but not earnings, from a Roth IRA free of tax and penalty as long as the...
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