Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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Supposed missed filing deadline - IRS won't refund
Hi, I’m hoping you can provide me some guidance on my 2017 tax return filing issues. I had sufficient withholdings taken throughout the 2017 tax year to cover my tax burden and also added an $8,000 payment with my extension on April 12, 2018 (the $8,000 wound up being an over-estimate and was not required). For personal reasons, I had filed my 2017 income taxes on 5/13/2021. However, the IRS claims they received my tax filing on January 26, 2022. Since this date was after the October 15, 2021 filing deadline for 2017 returns, the IRS will not provide me my refund. The IRS also stated that my tax return was complete and processed without issue. Unfortunately, I cannot provide the IRS with valid proof of mailing. In a conversation with the IRS, an agent told me that the IRS scans every mailed tax return. I am requesting a copy of the scan but have not received anything. I have called and written the IRS numerous times and have not received a successful resolution. Would you have any suggestion on a path forward? Thank you.
Asked Monday, October 23, 2023 by Art W.Sign in to Answer
Will I have to file a tax return
Social Security is 26400.00 plus pension 3600.00 plus cd interest 5000.00 yearly my age is 74. Do I have to file taxes?
Asked Monday, October 23, 2023 by Marilyn W.Sign in to Answer
W4P Advise
My ex recently retired. I get 13 yrs of his pension that started in April. I'm still working not close to retirement until 1yr 8 months from now. My retirement benefit is 360.00 a month. I do not know how to fill out the W4P form for his union. Do I add my current yearly salary on line b? It has to be notarized which is why I need help with this.
Asked Monday, October 23, 2023 by Susan L.Sign in to Answer
What forms has to be filled in for Company being owned by non US tax residence with non US incom.
The question is about forms and tax has to paid for the LLC company having only external non US income.
Asked Monday, October 23, 2023 by Piotr C.Sign in to Answer
401k loan
If I take out a 401K loan, and am paying myself back, does it affect me in the spring when I pay my taxes?
Asked Sunday, October 22, 2023 by Zachary H.Sign in to Answer
Will I still owe
I filed 3 of 4 w-2 's, I claim zero and yet I still owe. Is it because I couldn't file my fourth w-2?
Asked Sunday, October 22, 2023 by Jess H.Sign in to Answer
HOA fees and room rental
My brother has moved in with me and pays$400 rent for a room in my house he also performs 75% the cooking and cleaning within the house, also he pays electric bill 100, cable bill 85 and this is how we reach fair market value for rent. Which is $967 for a studio in my area per fed housing website. I have never claimed him on my taxes and he's been renting from me since 2021 which when I bought my condo. Should I go back and refile my taxes so that that he is showing on my taxes. Also if I do that I currently live in a condominium are my HOA fees deductible if I do this these in water, garbage, heat, ac, etc.. We also recently had a special assessment that was the help replaced our balconies, roofs, garages concrete repairs, electrical box in my unit, and things in that nature is a portion of this special assessment deductible.
Asked Sunday, October 22, 2023 by Peter J.Sign in to Answer
Go fund me
Hello- I am wondering if I must pay any taxes for a go fund me account asking for 10,000. I am in Illinois. Is there a limit as well before you must pay taxes? How does it work?
Asked Sunday, October 22, 2023 by MaryAnne L.Sign in to Answer
marking a item I like to sell up 25%
is dived .75 by price item same as matking up 25% If I want to sell a item with 25% Mark up
Asked Saturday, October 21, 2023 by Kyle H.Sign in to Answer
Can I avoid double taxation in my situation?
Already paid inheritance tax on $60,000. Invested it in annuity, and want to withdrawal. Will I be taxed on the original $60,000 again as additional income the year of withdrawal? Is there a way around that, as I will already owe an early withdrawal penalty also?
Asked Saturday, October 21, 2023 by Paul S.Sign in to Answer