Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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W4 Status
I have a spouse who passed away in April of this year. We always filed jointly. I will be returning to the workforce next month and need to know how to fill out my w4 appropriately. Should I use single or married filing jointly for this year. I would prefer to not have to change it later if possible. We have no dependents.
Asked Wednesday, June 28, 2023 by Amy M.Sign in to Answer
Issue with offer in compromise
I have an offer in compromise that was accepted by the IRS. I was told I have to stay in compliance with filing taxes for the next 5 years. In California we were given an extension to file taxes until October 16th, but I received a letter from the IRS saying I was not in compliance in filing my taxes by April 15th
Asked Wednesday, June 28, 2023 by Alvin W.Sign in to Answer
Help can I recover my money from another’s mistake
I am a independent contractor, a tax service prepared my taxes for the last two years I owe the IRS, a certain amount of money, and I do have an arrangement with them to pay the back taxes. the service I used made a mistake and it cost me over $6500 in over paid taxes. The IRS does not want to give me my money back because I owe them that much even though I unintentionally paid it due to the mistake of the tax preparer, my question is, do I have any recourse with the tax preparer to get my money back for their mistake, thanks for the help
Asked Wednesday, June 28, 2023 by Richard B.Sign in to Answer
Earning income different state than residing
If i earn $110,000 salary in georgia, but I live in south carolina what is my tax burden, filing married jointly, no kids, do not own a home? Do I have to file income taxes for both states?
Asked Tuesday, June 27, 2023 by Scott W.Sign in to Answer
Electric Vehicle Rebate/Grant Qualification Question
Hi! I'm looking to purchase a Tesla Model 3, and I was wondering where I stand with the state, federal tax credits. I recently graduated from college and have been driving my 2009 Nissan Versa for the last 7 years. I was wondering if I qualify for the full $15,000 ($7,500 Federal Tax Credit for Plug-in Electric Vehicles + $5,500 - $7,500 California Clean Vehicle Rebate Project (CVRP) - Increased Rebate). My income for the last two years was just internship hours (summer) so my AGI: ~20,000, but I will start my FT job next week making about 110k base. So would I qualify for the grant for low income, by using my previous years income, and the tax credits by using my current year income since I’m purchasing this vehicle this year?
Asked Tuesday, June 27, 2023 by Matthew D.Sign in to Answer
Taking RMD'S and still contributing to IRA
Im 73 and take RMD'S. My wife is 62, still works, and we pay for her health care. I have 18% taken out of RMD'S for federal and state taxes. Then I contribute $7500 back into Trad IRA to lower income so she can get a small health care subsidy and lower tax liability.. Does this make sense or would it be better to just put the $7500 into a Roth IRA with a 5% return?. I feel I'm going back and forth by taking taking RMD'S and then putting much of it back in. We are filing jointly and are in the 12% tax bracket.
Asked Tuesday, June 27, 2023 by William M.Sign in to Answer
Real estate Tax
Hello . I have a question regarding taxes for the sale of my primary property. I recently sold my townhome on 4/25/2023 (closing date) . I did own it for two years. My question is that do I need to file the sale of the property with my 2023 tax filings or should this be excluded. I read on your site about an ownership test which explains how a tax exclusion would work.
Asked Tuesday, June 27, 2023 by Karl D.Sign in to Answer
Husband died widower pension 902.00 only income now what withholding ? No withholding or standard
My husband just died, I have papers from his work for the widower pension, I will receive 902.00 and that is my only income, we have nothing else like annuities ect… the tax papers sent to me want me to pick what withholdings on the pension check, I want to say non because that’s all I will have, I don’t have a job I’m 61 and disabled, I receive no disability. Should I claim non or standard?
Asked Tuesday, June 27, 2023 by Janet S.Sign in to Answer
1099 R question
Hello, In 2016 our company was dropping our 401k, at the time our house needed a new roof so instead of rolling the 401k over I closed the account. Should I have received a 1099r that year showing the amount of tax, federal and state that was taken out. The only thing I received was a check with a line that showed about 20% had been deducted for penalties and taxes but no other information. Without the form at the time of filling we did not realize we needed to add the tax paid with the taxes from our w2 for our total deduction which is causing tax issues now several years later. Any help to confirm if I should have received a 1099R would be helpful. My employer said they only needed to give me the amount that was deducted from the 401k and it was on me to calculate the tax.
Asked Tuesday, June 27, 2023 by donald k.Sign in to Answer
Mileage deduction
I know mileage between 2 jobs is deductible. My question is the mileage between 2 jobs still deductible is you make a stop at your house? ( the house is along the way)
Asked Tuesday, June 27, 2023 by Theodore R.Sign in to Answer