Latest threads in Taxes General Forum | best threads

Subject Author Posted Replies
 
Estimated tax due date for second quarter
I'm pretty sure I saw something here a month or so ago, to the effect that the estimated Federal tax payment due on June 15th had _not_ been deferred to July 15th. But I could be mistaken about that....
2 months ago 1
 
What if the rollover deadline occurs on a weekend?
In general, ignoring 2020 exceptions for COVID-19 (IRS Notice 2020-23 et al), if we take a distribution from an IRA (and other conditions are met), we have 60 days to roll over that amount into the...
2 months ago 7
 
Inherited Stocks
I inherited 50 stocks oh TESLA My question is when I sell the stock how is capital gains calculated on: - On original price Or -On the I inherited price In article , Your gains basis would be the...
2 months ago 3
 
Is the IRS processing returns or are they too busy with COVID payments
I submitted fiduciary returns on April 16th. It took the state two weeks to cash my check. The IRS hasn't cashed it after six weeks. If I stop payment on the check and resubmit the whole thing all...
2 months ago 14
 
PPP question
I am a part owner of a small biz. I worked in 2019 at this biz but NEVER took a salary. I have been working in 2020 as well. Since the PPP loan forgiveness application form states that the salary...
2 months ago 1
 
Foreign Capital Gains
Do I understand correctly. I go to Foreignland with $100 in my pocket, and buy Foreignmoney. The Foreignland economy does well, and their currency gets stronger. I then take this Foreignmony and buy...
2 months ago 2
 
Second Round of Stimulus Payments -- What the House Said
The House of Representatives passed the HEROES* Act last week. It provides for a second round of stimulus payments. See bill at . Once again, there appears to be nothing that excludes individuals who...
2 months ago
 
Question about closing a california employer edd account
Has anyone here ever closed a california EDD employer account before? I need to close it for a closing business. One of the questions was when is the last day you paid wages. I put 3/31/2020 because...
3 months ago
 
My decedent got a letter
I got a letter from the IRS addressed to DECD % Take a look at and see what it said. Funny, my wife and I got our money, direct deposit, and that letter about...
3 months ago 3
 
Question on "Husband Wife"
Are husband and wife (franchisees of a small business) treated as ?one person? when it comes to the $100,000 limitation on salaries with respect to the PPP program? Or can they each get paid upto...
3 months ago
 
EIN
Does anyone know what's going on with the IRS and EIN's? Person is a foreign individual who created a US nonprofit corporation. He applied for an EIN months ago, and hasn't received it and hasn't been...
3 months ago 2
 
Returning erroneous stimulus payment
The IRS has now issued instructions for returning an erroneous stimulus payment. See Q41 at the following link. (Just added today.) Sandler Remember that IRS instructions in a FAQ are not...
3 months ago 25
 
EIDL Website?
I hope this isn't off topic. I have a non-tax question about the Economic Injury Disaster Loan (EIDL) website availability. The site in question is the Small Business Administration (SBA) site upon...
3 months ago 1
 
Time to exercies Stock Options
I have heard from someone who has to exercise non-qualified stock options within the next few days, but can't reach anyone that would allow him to do that. I've found everything I could on the IRS...
3 months ago 1
 
Some information about stimulus checks and the deceased.
My son's stimulus check arrived in the mail yesterday and I noticed that on the envelope there was a check-box for indicating that the recipient was deceased. Along with instructions to check the box...
3 months ago 25