Latest threads in Taxes General Forum | best threads

Subject Author Posted Replies
 
How to make Est tax payment
So I have to make my April and June estimates for Fed and 2 states. Is it OK just to send one check each as the April payment covering the total amounts for the 2 quarters? scott s. .. For the IRS you...
1 month ago 3
 
Rollback rules loosened
There had been some discussion here about people who took their RMD early in the year, wanted to roll it back when the CARES Act eliminated required RMDs for this year, but had missed the 60-day...
1 month ago 1
 
IRS CCA On When Statute of Limitations Starts To Run
On Feb. 6, 2020 the IRS Office of Chief Council published a CCA that provides the IRS interpretation of Code sections 6501 (the period for assessment) and 6511 (how long do we have to file for a...
1 month ago
 
IRS e-file rejected due to dependent conflict
Hi I submitted my 2019 e-file yesterday and it was rejected because of FD-32-IND-517-01 "A Dependent Listed on your tax return has claimed themselves on their own tax return". Some background: My wife...
1 month ago
 
Dead people got a lot of stimulus
News reports say $1.4 billion of stimulus payments went to dead people. They would like it back, but still no word on whether it's required. is about 0.5% of the total so I can't get too upset about...
1 month ago 2
 
Stimulus payments -- subject to state tax?
Of course we all know that the stimulus payments are not subject to Federal income tax because they are tax credits. But are any _states_ considering this $1200 as taxable income? (I'm personally...
1 month ago 4
 
Transcript of Final Return
Does anyone know if a transcript of a corporate return will show if it's a final return? Thanks. don't see it. In case you are wondering what the DLN code is..... it does not include the information...
1 month ago 1
 
california and new mexico state tax residency issue
For a California resident that worked in a restaurant in new mexico most of 2019 when filing taxes, would that be considered first year resident for New Mexico and non-resident status for california?...
1 month ago 8
 
IRC Sections 1014 and 1015 (Basis Step-up and Basis of property acquired by gifts and transfers in trust)
1015(b) If the property was acquired by a transfer in trust (other than by a transfer in trust by a gift, bequest, or devise), the basis shall be the same as it would be in the hands of the grantor...
1 month ago
 
IRC 2032 Alternate valuation
2032(c) Election must decrease gross estate value AND the combined estate tax and chapter 13 tax [GST]. Does that mean that the Alternate Valuation cannot be elected if the properties' market value is...
1 month ago 5
 
EIDL Bait and Switch?
On April 15, 2020, I applied for an EIDL, for $9.8K. Today, I got an email from the SBA asking me to create an account on their site: "SBA logo" "Create your SBA Economic Injury Disaster Loan Portal...
1 month ago
 
Roth Growth Untaxed...why?
I guess this is a philosophical question, because tax policy doesn't have to be rational. I understand that Roth IRA withdrawls are not taxable because the deposit were made with already taxed money....
2 months ago 7
 
Late IRA Contributiuon
I've been asked whether someone can make a timely IRA contribution after he has already filed his tax return. I've looked around and it appears that it can be done for a Roth IRA - in that case the...
2 months ago 2
 
IRS IP (Identity Protection) PIN
I have recently tried several times to get an IP (Identity Protection) PIN from the IRS website. I get through all the steps okay until the very end when it asks for a mobile phone number which it...
2 months ago 13
 
1099 question
When I?m doing the 1099?s and I call the vendor and he refuses to give his address or Social Security number, what do I do? Do I just send the 1099 to the IRS and say that the vendor not willing to...
2 months ago 2