silence_kit posted:

Do I need to file Form 8889 if all of the HSA contributions from my paycheck are pretax? Is this what the form refers to as a ‘cafeteria plan’?

I got a mailing from my HSA provider, after I did my taxes, unfortunately, that I need to file this form. I could file an amended return with this form, but it wouldn’t change the amount of tax I pay. It looks to me like if I were to file it, it would be entirely blank, since none of the HSA contributions are deductible and I did not take any distributions from the account.

black.lion posted:

Seems strange that Fidelity won't just do what you want them to with your 401k... I mean, if you're wrong (from their perspective) it's you that has to pay the tax + penalty... do they think they're protecting you from yourself? I'd call your rep there and tell them if they don't help you timely distribute the excess, and cause you to ultimately pay tax on the excess twice, that you're moving it to a competitor.

Did they give justification for why they want a tax professional to sign off on it?

MadDogMike posted:

You'd think they could look at the numbers and see the issue here without a permission slip. I don't know that you can necessarily pull money out from an IRA to fix a 401k issue though, they're under different limits and everything I can see in Pub 525 and the other IRS info seems to say it has to come out of the same plan over-contributed to, or at minimum the same type of plan I'd think. I'll double check to be sure though.

Photex posted:

I changed jobs last year and rolled over my 401k to Vanguard, I'm looking to do the max IRA Contribution ($5,500) i'm guessing I can just buy in additional $5,500 worth of whatever into my Rollover IRA Brokerage Account yeah?

Does Vanguard send out updated contribution tax forms or is it automatic (I don't have any forms generated yet for my rollover or anything)

Photex posted:

Question about IRA Contributions and suchs..

I changed jobs last year and rolled over my 401k to Vanguard, I'm looking to do the max IRA Contribution ($5,500) i'm guessing I can just buy in additional $5,500 worth of whatever into my Rollover IRA Brokerage Account yeah?

Does Vanguard send out updated contribution tax forms or is it automatic (I don't have any forms generated yet for my rollover or anything)

Hoodwinker posted:

The max IRA contribution this year is $6,000 but yeah.

Photex posted:

I was talking about doing it for 2018 tax season

smackfu posted:

What do tax pros think when they get a 1099-R with the PJ code on it? (P meaning this 2018 form has 2017 taxable income.) Seems like it opens a can of worms.

tangy yet delightful posted:

Is there a way to calculate an estimated IRS penalty for underpayment? I'm not looking for an exact amount but just a ballpark so I can figure if it's worth paying a tax pro to dig further into my turbotax work to see if I can get my tax owed amount down to not have the penalty kick in.

baquerd posted:

Has anyone ever been in an HSA audit situation? I'm keeping track of claim ids, amounts owed, payment amounts and dates, and either an EOB or receipt if there is no EOB. Do I also need to track actual receipts for things I have an EOB for? Relatively annoying to do so and based on how FSA validation worked, it seems an EOB should be enough to hold up to an audit.

Epitope posted:

Form 2210?

Spokes posted:

1) If I reported the correct amount and they go and issue me a 1099 in six months when the IRS comes down on them, how much of a pain is it to amend my return, assuming none of the amounts change (I filed through turbotax)? Do I even need to?

Spokes posted:

2) Is there any chance that HQ gets assessed penalties or anything like that for not filing 1099s? I know that there's laws that say they should, but I have no idea how likely that is to happen.

Spokes posted:

I have kind of a stupid question-- I won about $2500 from HQ Trivia in 2018 (a mobile app). They collected a W-9 from me but have announced that they're not issuing 1099s (their claim is that because they paid out through paypal, it's on paypal to provide the tax paperwork). This is obviously wrong and dumb as hell, and since they're sticking to it after hundreds of people complained, i said whatever and just went ahead and filed (reporting the amount obv).

Back of the envelope, I've got them awarding about $2 million in prizes last year, and over the $600 threshold for probably about 1000 folks. My questions are:

1) If I reported the correct amount and they go and issue me a 1099 in six months when the IRS comes down on them, how much of a pain is it to amend my return, assuming none of the amounts change (I filed through turbotax)? Do I even need to?

2) Is there any chance that HQ gets assessed penalties or anything like that for not filing 1099s? I know that there's laws that say they should, but I have no idea how likely that is to happen.

EBB posted:

What's the best way to go about looking for a reputable CPA for tax filing? My tax situation this year is well beyond my capability- joint filing with multiple states and countries. There are forms I need to file this year I've never even heard of before.

EBB posted:

Thanks for pointing me in the right direction. Maybe I'll just shoot myself and let my wife pay the CPA with the insurance money.

EBB posted:

Thanks for pointing me in the right direction. Maybe I'll just shoot myself and let my wife pay the CPA with the insurance money.

EBB posted:

Thanks for pointing me in the right direction. Maybe I'll just shoot myself and let my wife pay the CPA with the insurance money.

sleepy gary posted:

I have a full time job with benefits, but I also do 1099 work on the side. If I want to pay a helper for one of my 1099 jobs, what's the proper way to do that?

Lord of Garbagemen posted:

I have a couple of very good Canadian firms i can point you towards. I work with them alot for outsourcing the Canadian work. Shoot me a pm

EBB posted:

Much worse. My wife is a Chinese citizen with a US green card. Her law firm sent her to their Chinese office for three months last year. She was paid in RMB during that time and the PRC took tax out. I need somebody who can figure out the tax treaty in this case.

EBB posted:

Much worse. My wife is a Chinese citizen with a US green card. Her law firm sent her to their Chinese office for three months last year. She was paid in RMB during that time and the PRC took tax out. I need somebody who can figure out the tax treaty in this case.

babydonthurtme posted:

<401k excess deferral saga>
Edit: In case anyone was following along with our lovely situation, two long calls to both Fidelity and Vanguard have made it pretty clear that the easiest way out of this is to talk to a tax professional. I have no words for how much I want to strangle my partner's HR department right now

babydonthurtme posted:

Re this, is just going to our local H&R Block to have them handle this situation better than trying to find a local tax preparer to do it? Also, is there any way to just have someone talk to Fidelity and do the exchange of forms/proof re our over-contribution without completely doing our taxes?

Hoodwinker posted:

I would be in no way surprised if you know more about the situation than somebody at H&R Block.

SiGmA_X posted:

You stole my post!

But really, never go to H&R Block. As I see it, there are two options: tax software or tax CPA.

MadDogMike posted:

MadDogMike posted:

black.lion posted:

No one's talking abt you bb

something something "not all h&r block employees"

babydonthurtme posted:

Oh hey, I forgot you work there. Are you or other decent preparers at your branch available on the remote thing H&R Block has?

MadDogMike posted:

To be fair I do work the offseason which involves dealing with mistakes, so I can safely say... yeah, even the experienced H&R Block people have some screwups. I just kind of laugh at the idea CPAs are always better; I have seen some SERIOUSLY messed up returns from CPA firms. Not sure you get out of the Russian roulette of "Is this person a good preparer?" without direct reference from friends unfortunately, there's no easy answer there. Like trying to find a good plumber when you basically just know what a pipe is, only more of a time sink (no pun intended) dealing with IRS letters for guessing wrong. I suppose working as a troubleshooter does get me a lot of clients; the one sure fire way of getting/keeping a client I've found is fixing something so they get more money/don't owe what that scary letter says, it is a pretty good answer to offer for the "good preparer" question .


I was one year though they took me off for some reason afterwards. Not sure who in my district does it; the main problem is the compensation for it was bad compared to regular tax prep so you wind up getting paid for doing a crazy business return (with people who often seem kind of vague about the whole "I need to ask you questions to check your return" thing) about what you get for somebody with a single W-2 in the office. That made it... less than popular to sign up for. They may have fixed that admittedly since they changed our pricing setup this year though along with the online return review stuff. That was half of the clients; the other half were "Oops, picked that by mistake, can you get rid of this service?". No, I can't; for some STRANGE reason they don't want me able to casually remove a service the client selected at my personal whim...

Also doesn't help that the experienced people tend to collect a LOT of clients so it's kind of hard to get the time to review those kinds of returns; I'm in my 4th year and I'm finding myself solidly booked even for some of the 10+ hour days I've been pulling lately, the people who've done it for decades are even crazier busy. Kinda of sad I celebrated when snow cancelled a bunch of appointments this week because it let me catch up on my drop offs. I do suspect people (us and others) are thinking about trying to move us towards that online stuff as our typical service type eventually, which I can't say isn't a logical future for things.