Internal Revenue Service which is the US Federal Tax authority.

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57 views

residence change of use

I bought a second house with the intention of fixing it up and then renting it. I have been working on it for almost three years and for the last two year I have been depreciating it on tax forms and ...
3
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2answers
58 views

How long after the tax year can you file form 8606

During many years in the 1990s I did not show a deductible IRA contribution on my 1040, but deposited money into my IRA account without filling our form 8606.
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13 views

2015 ATNOL (Alternative Tax Net Operating Loss) Calculation Worksheet

We received a letter from the IRS asking us to "provide the worksheet for the 2015 ATNOL calculation." We are not able to find this work sheet. Any help you can provide would be wonderful, please.
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1answer
39 views

Whether it is possible to get copy of my W-2 from IRS for past few years?

Whether it is possible to get copy of my W-2 from IRS for past few years? For some reasons, i need to have copy of my last 7 years W-2. I was wondering whether it is possible for me to get my copies ...
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1answer
52 views

Sending more that 10K USD to UK Business Account

I have my brother who lives in USA, he wants to send around USD 10000 to UK onto my Business Account Via Wire transfer through Bank to bank for Loan Purposes. My brother is worried as in US a ...
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2answers
56 views

Need help filling out W-4 form

I need help filling out W-4 form so that I get more money from my paychecks and pay less tax. Recently my circumstances have changed, I am married and have 1 child (2 months old), only I work my wife ...
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3answers
365 views

Is it a gift or not?

IRS rules are not always black or white, and something that I find myself struggling with is what is considered a gift. Hypothetically, suppose I am moving soon and have a broken leg so I cannot do ...
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0answers
45 views

Tax form requirement - irs

This sounds a stupid question but I need to ask - I have two other houses besides the one I live in - on a tax form are they both called second homes or does one get designated as third home
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1answer
21 views

Details behind Geographic Jurisdictions for IRS Form 2555

For the Housing Exclusion and/or Deduction, Line 29b limit on the maximum deduction - How can one establish a level of confidence in the geographic borders drawn up by the IRS? https://www.irs.gov/...
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1answer
119 views

Paid my tax online, but received a non-payment notification from the IRS

I filed my Federal taxes correctly as a Non-resident using 1040NR-EZ form, and I had to pay a certain amount. I paid online using payusatax.com (on-time) but used the "pay 1040 balance due" option. I ...
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1answer
114 views

How do I get into contact with the IRS to ask some tax questions?

Way back in March I filed my taxes, and applied for a payment plan. My request actually never went through, and I ended up having to re-apply on April 20th. The representative I talked to said that my ...
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1answer
68 views

What is the US tax owed when gifting India Shares to my brother?

I am planning to gift my India Shares in Stock Market to my brother, which has an overall value of 400,000 USD. According to Form 709 I can do a 14,000$ per year gift tax and file. My question is, can ...
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2answers
143 views

IRS sent incorrect tax refund. How to correct this?

I sold a house in the US last year and as a non-resident alien there was a federal tax withholding of $4200. I filed form NR1040 to get this tax withholding back. This should have been a simple ...
2
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3answers
299 views

Can I mitigate lottery withholding tax by making an epic Vegas trip?

Lottery withholding taxes are quite substantial, and from my understanding of the federal tax regulations, gambling winnings can be offset by gambling losses up to the amount won. So if someone won 5 ...
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0answers
67 views

Should rideshare drivers log mileage of individual trips, or is a daily entry acceptable?

A rideshare driver (Uber, Lyft) can deduct vehicle expenses for business use of the vehicle. Should the driver log each trip individually, or is a daily entry of beginning odometer, ending odometer, ...
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0answers
49 views

Does the IRS report Loan Repayments to the credit bureaus?

Having lived abroad for 15 years, I've returned to the US almost 1 year ago and am preparing to buy a house via a mortgage. Naturally, I'd like to get favorable rates. I face a couple of challenges ...
4
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1answer
220 views

How far does the IRS usually go when they uncover unreported income?

I have had a Google AdSense account for a while. In 2013, Google started requiring to fill out tax information. I was an idiot and decided to claim that I lived in another country and that I had no ...
3
votes
1answer
48 views

Does a U.S. citizen living in Mexico and getting paid from U.S. company, have to pay taxes in Mexico?

I'm a U.S. citizen living and working in Mexico to help expand operations for a U.S. corporation I work for. I currently file and qualify for the Foreign Earned Income Exclusion under IRS rules. My ...
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1answer
44 views

Do I need a W-8BEN if I pay non-US citizens via PayPal?

I am getting most of my information from this page: http://www.kahnlitwin.com/blogs/tax-blog/form-1099-requirements-for-foreign-workers I pay both US citizens and non-US citizens as independent ...
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0answers
23 views

Can I change my mind, and expense the remainder of an asset?

I purchased a computer in the year 2013. That year I had no available section 179 deduction available, so I am depreciating the asset over 5 years with the 200DB method. Can I change my mind, and ...
3
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0answers
22 views

I've made an addition to my home: how to I reflect the adjusted basis for home office deduction purposes?

For some years I have operated a home office, and taken the home office deduction. The home office deduction (at least prior to the introduction of the simplified method) mandates calculating ...
2
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1answer
53 views

Can I pay estimated taxes based on last year's taxes if I anticipate more income this year?

My question is related to this one (Do I have to pay estimated taxes if my income will be much lower this year?) but in the opposite direction. Last year my wife started a new business and with all ...
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1answer
62 views

When is the Quarter 1 Estimated Tax form Due in the US?

I am new to filing form 1040 ES for estimated taxes; when is this form due? The form itself says April 18th, 2016: https://www.irs.gov/pub/irs-pdf/f1040es.pdf This seems simple enough but I am ...
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0answers
19 views

What are considerations for an IRC §501(c)(3) donating to an IRC §501(c)(7) Social Club?

What fiscal considerations may there be for a §501(c)(3) that, consistent with promotion of it's mission, wishes to make a donation to a for-profit corporation or a §501(c)(7) social club? Clearly ...
3
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1answer
187 views

I have paper-filed my federal tax but I am not sure if IRS has received it. Should I file an extension?

Because of my immigration status in the US, I have to paper-file my tax form 1040NR-EZ. Then I lost my USPS tracking number and IRS's Where's My Refund doesn't have my info. Should I file an extension ...
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3answers
201 views

IRS “convenience of the employer” test when employee lives far from the office

I'm looking for a reliable general reference to the IRS "convenience of the employer" test regarding a home office employee deduction. The IRS test is, the home office must be: a condition of ...
4
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1answer
65 views

Is a fellowship grant for research automatically “for personal services”, and thus wages?

(I would like to note beforehand that I am not discussing the taxability of a scholarship or fellowship here. This is purely about finding the right category for some certainly taxable income, for ...
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0answers
57 views

If my business is under FTB audit, can I close my old bank account?

We plan to switch from Bank A to Bank B and we are currently under Franchise Tax Board audit. We also recently realized that account in Bank A is with outdated EIN that we forgot to update to SSN when ...
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1answer
80 views

Can I take tax deductions for a second residence where my son lives?

I own a small second residence where my disabled son lives. He is unable to pay any rent and probably never will. For income tax purposes, can I depreciate the house, deduct property taxes and ...
7
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1answer
84 views

If the IRS asks for a proof for a medical expenditure, can we provide a scan, or do we have to provide the original receipts?

In the United States, one can deduct part of the expenses a taxpayer paid for medical and dental care for themselves, their spouse, and their dependents. In case the IRS asks for a proof, are scans of ...
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1answer
57 views

Why does IRS propose to add in 1099-MISC income I already reported on Schedule C?

I received several 1099-MISC and reported this income on line 1 of Schedule C plus a bit more for which I did not receive any 1099-MISC. Now I'm getting a letter from the IRS proposing to change my ...
3
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1answer
137 views

Does payment in goods count as “income” for tax purposes?

Can someone help me elucidate the definition of "income" from a tax perspective? More specifically, if Joe is paid for his work in avocados instead of dollars, then would Joe be exempt from paying any ...
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1answer
65 views

Dealing with Form 1099

I'm running a small U.S. business. Some users make profit by referring customers to purchase services from me. I've been told that I have to send form 1099 to both users whom making such profit from ...
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1answer
85 views

How to handle taxes related to affiliate marketing?

I'm running a U.S. registered business, selling intangible services online. Part of my business is offering an affiliate account registration to individuals and companies who wish to earn money ...
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1answer
82 views

Determining residency status for IRS with “closer connection” (Form 8840)

I am trying to determine my residency status for US tax purposes. According to the substantial presence test, I am a resident alien of the United States. This is going by the days that I've been in ...
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3answers
111 views

Can one be non-resident alien in the US without being a resident anywhere else?

My question is as above: Can one be non-resident alien in the US without being a resident anywhere else? Let's assume the following simplified case: a former resident of Germany visits the US for a ...
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1answer
49 views

A US citizen, working part time in Ireland, some earnings on Amazon.com. What to do about my US tax obligations

I am a US citizen living & working in Ireland. I pay Irish tax on my wages. I also earn some pocket money selling on Amazon.com. What should I do about my Amazon.com income with respect to the IRS?...
3
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2answers
90 views

IRS Form 5500-EZ (5500EZ). How to file late

I had an S-Corp that I closed down in 2013. I didn't realize I needed to file a form 5500-EZ because although the assets in the Self Managed Individual 401K were less than $250,000, you need to file ...
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1answer
65 views

How FTB and IRS find mistakes in amended tax returns? Are their processes reliable?

I helped my friend to fix her 2011 Tax Return. She initially incorrectly filed form 568 (LLC) for her business that was actually operating under General Partnership structure. After FTB received the ...
7
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1answer
188 views

If I helped my friend to file taxes; can I represent her on a phone call with FTB?

I helped my friend to amend taxes. However, Franchise Tax Board is still not satisfied - they expect that on form 565 box 24 we should pay $800 annual fee for her General Partnership. General ...
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0answers
63 views

Living abroad with Mexican insurance and HSA contribution

I am United States Citizen. I lived in Mexico all of 2015, I had a high deductible health plan (HDHP) from a Mexican insurance company all of 2015 as well. My plan meets United States IRS HDHP ...
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1answer
99 views

child care expenses not taken into consideration by my tax consultant

I am paying huge amount of money for last 3 years for my children's daycare. I see here that i can claim the expenses incurred for child care so i and my spouse can work. I checked all the 10 clauses ...
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1answer
27 views

Claim expenses incurred in 2014 during 2015 filing

I have incurred some expenses in year 2014, which for some reasons i could not file during filing my tax returns for 2014. Now i am going to file my income tax returns for 2015, can i file those ...
2
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1answer
81 views

Are there any guidelines for having a low risk of getting audited by IRS? [duplicate]

I know the question might be too broad. But maybe top 5-10 guidelines will suffice.
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41 views

Taxing of an LLC Member of a Foreign Company in USA

We want to form an LLC (%50 me, a real person and %50 a company in Turkey). So even its an LLC, I guess it will be taxed as partnership? by the IRS rules. (if we select so) I will be working on that ...
0
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1answer
126 views

Must I go on a quarterly payment plan if I owe the IRS a lot?

Context: I've heard from a couple people that if you owe a significant amount of taxes to the IRS (say several thousand dollars) at tax time, then the IRS will require you to start paying future taxes ...
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27 views

Do I need to file quarterly taxes if I make no money this quarter? [duplicate]

Last year I filed taxes quarterly to the IRS. In the 1st quarter of this year I will not have any income because I've been unable to work. Do I still need to file a quarterly tax payment that is 1/4 ...
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1answer
102 views

Are missed "estimated tax payment' penalties really enforced by IRS and FTB(CA)?

I am a regular employee in a tech company and receive annual W2 form. I moved to US in 2010 from a country where tax system is simple. These years I also have traded stocks in my free time and made ...
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30 views

What Qualifies as “Business Deduction for Work-Related Education” Under US Tax Code Publication 970

I work as a Software Developer. Using Topic 513 Publication 970 Chapter 12 of the US Tax Code would I be able to deduct any of the following? Paying for and taking PTO to attend a conference and ...
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1answer
159 views

F1 student in US, correcting mistake in wrong tax form filed

I noticed a similar question In the US as an F-1 student, filed the wrong form last year. But I have something additional to ask. I am a F1 student nonresident alien and, in 2014, I filed form 1040EZ ...