Questions tagged [irs]

Internal Revenue Service which is the US Federal Tax authority.

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6
votes
1answer
177 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, ...
8
votes
2answers
260 views

Can I legally file zero tax return as non-resident to get ITIN?

I want to obtain an ITIN number to get a credit card / open bank account in the US. I know, IRS does not issue this number unless for tax reporting purposes. I visit the US from time to time on a ...
7
votes
1answer
154 views

Nonresident received the stimulus money for COVID 19 from IRS

I am a non-resident alien who working in the US. Yesterday, I received the stimulus money ($1200) due to the COVID 19 from IRS, while I know that as a non-resident, I am not eligible to receive. This ...
0
votes
0answers
30 views

School 501(c)((3) non profit. Giving gift cards to teachers. Is it taxable? [closed]

Are gift cards given to teachers as presents, by a 501(c)(3) school non-profit group, taxable to our organization?
4
votes
1answer
458 views

How to file 1040NR form as a non-resident alien owner of a U.S. LLC in Wyoming?

I'm an Egyptian citizen, living in Egypt and I own a LLC in Wyoming. I am the only owner of this LLC (single member managed LLC). I use this company to accept international payments through stripe.com ...
1
vote
1answer
77 views

Tax implications for sending and receiving money from India

I am planning to send $40000 to my friend in India. After few months, he plans to return me the same amount. What would be the tax implications for both of us in India and USA? Thanks in advance!
2
votes
1answer
36 views

CARES-related withdrawal: eligible plan vs. opt-in

It seems a qualified individual with an eligible retirement plan can apply CARES act provisions with regard to withdrawals/distributions received during calendar year 2020, whether or not the plan ...
0
votes
1answer
178 views

Can I change a cost basis method retroactively?

On Form 8949 of my 2017 tax return, I reported short-term (Box C) & long-term (Box F) "transactions not reported to you on Form 1099-B". Will the IRS allow me to file an amended return that ...
16
votes
2answers
4k views

I e-filed my taxes ONE SECOND after the deadline - am I in trouble?

I am a US resident and last night I e-filed my 2019 federal income tax return with TurboTax and I owed money. (I know you should NEVER wait for the last day but it's been a couple of crazy weeks so I ...
0
votes
1answer
51 views

How to pay taxes if I intend to amend my return

I will need to file an amended return this year. I will owe $36 in federal taxes. My original return had zero tax owed (and zero returned). I would like to make a payment for $36 to prevent any issues ...
0
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1answer
59 views

Sent my amended tax return by UPS on July 14. Will it be accepted?

Deadline is tomorrow (July 15) and my documents will be delivered on Thursday (July 16). Yet I managed to hand it over to my nearest UPS (the private company, not USPS) today (July 14). Will it be ...
1
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1answer
81 views

tax deadline date means before date or on that date?

So this year's tax deadline is July 15th. Does it mean you have to do it by July 14 23:59, or July 15th 23:59. Also what timezone is it in?
3
votes
1answer
65 views

Consequences of “hobby” classification for non-resident single-member LLC with no activity and income?

Suppose I am a non-resident who is the sole member of an LLC incorporated in Wyoming. Suppose the LLC has no activity and no income. The only expenses relating to the LLC is the yearly Wyoming license ...
1
vote
1answer
37 views

Documents need for refiling from Married filing Separately to Jointly in USA

My wife filed taxes earlier this year as Married filed Separately. I haven't filed taxes yet. Now we want to file together as Married filed Jointly but IRS wont accept her Social Security, since they ...
0
votes
1answer
298 views

F1 to H1B - Should I be filing taxes for 2019 as a Resident Alien or a Non-resident alien?

I was on F1 since my first arrival to the US in 2015 (never been to the US before). My H1B was approved in June 2019 (I have been on F1 all the time before this date and was Exempt) Should I be ...
0
votes
1answer
29 views

I made a payment for Form 1040-ES via IRS.gov/payments. Do I have to fill any form in addition to that?

I made a payment for Form 1040-ES via https://www.irs.gov/payments. Do I have to fill any form in addition to that?
2
votes
1answer
34 views

Is IRS dual-status optional?

In 2019 I was a resident US alien for IRS purposes. In September I permanently moved out of the US. Thereafter, I got a job in the foreign country and received foreign salary for the last months of ...
0
votes
1answer
37 views

When paying the 1st and 2nd quarters of estimated tax payments (Form 1040-ES) due on July 15, 2020, should I make 1 or 2 payments on irs.gov/payments?

I read on https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes: First and second quarter estimated tax payments normally due April 15 and June 15 are postponed to July 15, ...
1
vote
0answers
24 views

Is the 83(b) election deadline inclusive of the start date?

In 2014 I early exercised 10,000 unvested options and filed an 83(b) with the IRS. The stock from the exercise transferred on January 1st, 2014. I called the IRS and confirmed they have the 83(b) on ...
12
votes
2answers
15k views

How can I avoid being fined or penalized because my accountant might have failed to file my taxes on time?

I decided to use a CPA because my tax situation got complicated this year. I have attempted to contact my accountant several times and cannot get a response from him at all. It is now after the ...
1
vote
1answer
18 views

J1 to F1 after a gap- am I non resident?

I was on J1 (research scholar) visa in 2009 and 2010. Then I stayed out of US and came back on F1 student visa in 2015 and held the F-1 student visa for 2015, 2016, 2017, 2018, 2019. My question is ...
1
vote
1answer
50 views

Can I apply for an extension of time to file tax return between April 15 and July 15 2020?

I can usually apply for an tax return extension before Tax day (Apr 15) however this year tax return deadline was moved to July 15 - does it mean that I can apply for an extension after Apr 15 but ...
0
votes
1answer
37 views

Income Tax filing of Roth Info

I may have mis added the amount of 401 K I converted to a Roth account on my taxes. Will the IRS catch that? What will be the penalty?
1
vote
0answers
47 views

Stopping erroneous IRS collection

We (my wife and I) had a Required Minimum Distribution Issue (RMD) that was supposedly resolved. We have a letter from the IRS stating that the waiver was granted and that we owe NOTHING for the tax ...
1
vote
0answers
13 views

How to report a C corporation's post-dissolution expenses?

We're filing 2019 Form 1120 for a C corporation (XYZ Inc). In January 2017 my cofounder and I incorporated XYZ Inc in Delaware and registered it as a foreign corporation in Connecticut. We dissolved ...
0
votes
1answer
91 views

Is there a “structuring” risk when receiving international wire transfers?

I am trying to move a large sum of money from abroad to my bank account in the US via wire transfer and I don't want a Currency Transaction Report (CTR) being filed by my bank (if it's not necessary) ...
1
vote
2answers
763 views

Clarifications On PFIC Rules

I have specific questions related to this post at ZeroHedge. Are these PFIC rules new? When looking at the criteria, I see on point two that 50% or more of its assets are assets that produce passive ...
0
votes
1answer
79 views

Stimulus not received to date

I receive SSI via direct deposit also received 2018 SSA-1099 benefit statement. To date I have not receive stimulus. I filled out pertinent info for "My Payment" on the IRS website it stated I did not ...
0
votes
2answers
94 views

Wondering if I’m eligible for the stimulus

I was claimed as a dependent on 2018 taxes and I didn’t file for 2019. I applied for the stimulus as a non filer and was accepted, but am I eligible? I was not claimed for 2019. I applied over a week ...
10
votes
1answer
418 views

If I never cash my $1,200 stimulus check, can I claim it as a tax credit on my 2020 return?

The United States IRS does not have my direct deposit information (because I have never given it for a tax refund) or my current mailing address (because I have moved since my last return was filed). ...
3
votes
1answer
590 views

IRS Notice CP59 - Did not file taxes

So my wife got a CP59, which is a complaint from the IRS that she did not file her taxes for 2017. That year, as in years previous, we filed jointly and electronically. The year previous we had a new ...
0
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2answers
2k views
2
votes
1answer
125 views

Would a retiree get the covid19 stimulus payment?

I have been retired for years, I pay income tax every year on IRA withdrawals and social security income. I don't need the stimulus or think I should get it but my wife ( also retired) is convinced we ...
16
votes
3answers
3k views

How does IRS know if my dependent is an actual relative for Head of Household?

Long story short. Found out I had a half brother and he's been staying with me for the past year while going to a nearby community College. Was doing my taxes and discovered he technically qualifies ...
0
votes
1answer
78 views

Claiming children without SSN as dependents for stimulus

My family and I live in Germany. I'm German and my wife is American (SSN holder), while our two children have dual citizenship, both have a CRBA but both don't have an SSN. Can my wife claim them as ...
2
votes
1answer
155 views

How to send back the CARES payment of COVID-19 to IRS as non-resident

I am a non-resident alien who working in the US. I received the CARES payment ($1200) of the COVID 19 by direct deposit from IRS, while I know that as a non-resident, I am not eligible to receive. ...
2
votes
1answer
80 views

When flying to and from the United States, from/until what time does it count as days of presence from an IRS tax residence standpoint?

When flying to and from the United States, from/until what time does it count as days of presence from an IRS tax residence standpoint? For example, if my plane entered the US airspace at 20:00 on ...
1
vote
1answer
59 views

Are IRS audits triggered and conducted for a specific year or a range of tax years?

Let's assume that I have filed my taxes for 2017, 2018, and 2019. If my 2018 tax return triggers an audit, will I be required to provide information regarding my 2017 or 2019 taxes / finances (...
2
votes
1answer
192 views

How to file a claim with the IRS on refund check not received

The IRS "Where's my refund?" site says they mailed a check a while back but we've yet to receive one. Your refund was mailed on December 2, 2019. For information about how to file a claim because ...
1
vote
1answer
40 views

Transfer of Gifts From Iran to the US

I am a US citizen and a permanent resident living in the US. My family resides in Iran. My father which is a non-resident alien is currently supporting me financially and lives in Iran. Due to OFAC ...
2
votes
0answers
4k views

What does IRS TREAS 310 TAX REF 0918 mean?

I filed my 2019 tax return. In a checking account I haven't used in years on my returns I received a deposit that says IRS TREAS 310 TAX REF 0918. In the checking account I used for my 2019 return I ...
0
votes
1answer
50 views

2020 Taxes - How will I handle a new dependent? [duplicate]

My sister in law lived in Las Vegas, Nevada and did her taxes for 2019. Her husband suddenly passed away unexpectedly in September. She sold her house in March of this year 2020 and paid off the ...
0
votes
0answers
34 views

Can a disregarded entity carry forward a tax loss?

I've heard that in general only businesses can carry tax loss forward (though in certain cases individuals can, too). Can someone filing taxes as an individual because they have a business which is a ...
0
votes
1answer
70 views

Do I meet stimulus check eligibility standards?

My last year to file an income tax form was 2017, as my CPA informed I no longer made enough (retired) to make filing necessary. My only income now is my monthly Social Security disability check for $...
0
votes
0answers
27 views

Stimulus Check Dependent Question [duplicate]

In 2018, I was able to be claimed as a dependent, as listed on my tax return, but my parents didn’t claim me in 2018, in 2019 I was no longer a dependent. Will I receive the check?
1
vote
0answers
45 views

In 2018 my parents filled for me as a dependent, in 2019 i filled for myself and received my refund, when do I get my stimulus check?

In 2018 my parents filled for me as a dependent, in 2019 i filled for myself and received my refund, when do I get my stimulus check ?
0
votes
1answer
196 views

When I try to get my coronavirus payment on the IRS website, I get an error saying “the information you entered does not match our records”

I am a US citizen living in Canada. I went to https://www.irs.gov/coronavirus/get-my-payment, and entered my social security number, my date of birth, my American address and my American zip code I ...
1
vote
1answer
107 views

Why did I get $1200 stimulus check? Was a resident alien for tax but moved out of US in Nov 2019

I was a student on a visa in the US and was also working at the university from 2012 to Nov 2019. I then moved out of the US at the end of Nov 2019. Officially, I'm still a student at my US university ...
3
votes
3answers
26k views

I'm Canadian, but I've worked in the United States. Why did I get a $1,200 payment from the IRS?

I'm Canadian, but have been working in US 3 years 2015-2018 on TN visa. In 2018 I returned to Canada, filed IRS return for 2018, but didn't do it for 2019, because that year I didn't work in US. But ...
4
votes
3answers
359 views

What is the logic behind the IRS direct deposit of the stimulus check?

According to the general press and the relevant IRS pages, if you e-filed your taxes for 2018 (or even 2019), and you used direct deposit, the stimulus checks will be deposited automatically into the ...

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