Unanswered Tax Questions
CPAs - answer tax questions, and introduce your practice to potential tax clients.
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Form 1040 filed by beneficiary on behalf of deceased family who gifted
My sibling gifted me a sum of money (About 500k) last year in 2022. In 2021 they had a will made with me as executor and beneficiary. Sibling is divorced as of several years ago. Unfortunately sibling passed away in early 2023. This year, I submitted a gift form 1040 on their behalf. Now I have received a letter (actually in their name) from IRS Dept of Treasury saying in response to inquiry (Form 1040) IRS is working on the account. An additional 60 days are needed to send a complete response on what action IRS is going to take on the account.
Asked Friday, May 26, 2023 by Nam S.Sign in to Answer
Do you have to file taxes for rental income from a Time Share
I have a timeshare and was asked by the company if I'm interested in renting my vacation weeks. I would make $6000 or $9000 depending upon how many weeks I rent out. At present, I don't file taxes because I have supplemental income. My question is: Do I have to file taxes because I have to claim this money as income?
Asked Friday, May 26, 2023 by Maude C.Sign in to Answer
Filling out w-4p
Widow since 9-2020, annuity income from father, pension income from late spouse, work full time. How to fill out form to get most taxes taken out so I don’t have to pay during tax time.
Asked Friday, May 26, 2023 by Regina B.Sign in to Answer
Hi. We are a very small 501c3 in NY. We conduct music events. I have an international artist visiting and performing and need to remunerate her for music services for $1200. What tax paper work is required and how to transfer the payment to artist?
Hi. We are a very small 501c3 in NY. We conduct music events. I have an international artist visiting and performing and need to remunerate her for music services for $1200. What tax paper work is required and how to transfer the payment to artist?
Asked Friday, May 26, 2023 by Sundar V.Sign in to Answer
Will she pay a gift tax?
My wife’s grandmother is buying a house with us and will be providing the $100,000 down payment but will not be on the loan - just the title. Will she be required to pay a gift tax on this even though she is moving in with us?
Asked Thursday, May 25, 2023 by Kaleb R.Sign in to Answer
Never filed before
Son worked in 2021 and 2022 and father never had him file taxes what does he need to do?
Asked Wednesday, May 24, 2023 by Ashley M.Sign in to Answer
Do I Charge G.E.T on my invoices
In the Long Beach area GET is 10.25%. I am self employed and charge for inspection services to businesses throughout the Southern California region. When I charge for my services do I include the GET from where I am based on my invoice?
Asked Wednesday, May 24, 2023 by Kanoa H.Sign in to Answer
Tax deduction for foreign University with no EIN number
My daughter is attending a University in the United Kingdom at a school that does participate in the U.S. FAFSA program. The school does not have a U.S. EIN number and for the 2022 tax year the IRS is saying they will not allow any tax deductions for education expenses because there is no EIN number. Is this correct? For tax years 2020 and 2021 she attended the same school and the IRS allowed the deduction without an EIN number. Did something change for 2022?
Asked Wednesday, May 24, 2023 by Tanya A.Sign in to Answer
Can your employer tax you same amount of your earnings
Can my employer tax me the exact amount of my earnings. I’m a waitress in Michigan
Asked Wednesday, May 24, 2023 by Dawn C.Sign in to Answer
Section 179
I just started a business. The truck I use for deliveries is breaking down. How do I purchase another vehicle for the business?
Asked Wednesday, May 24, 2023 by Leigh R.Sign in to Answer