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Marman1209 posted:Came across a 1099-R I didn't remember for 2013, and after some fast math seems like I might owe 7 dollars for my mistake. I once received a notice saying I owed an additional $2, but that the IRS was letting it slide. This time.. This was back in '03, I think. You might be above the cutoff, however.
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Jan 28, 2015 15:57
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potatoducks posted:Yeah I think you're presuming a level of arrogance here that doesn't actually exist. Don't get too excited. Your situation sounds similar to example 3 in pub 587, so I guess if that's an accurate description of your activities, you should be OK. As long as you aren't using that office for gaming, sex dungeons, reading for enjoyment, that sort of thing when you're not working.
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Jan 30, 2015 15:36
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89 posted:I'm thinking this is sarcasm? I'm a little lost on this kind of stuff. Which is why I'm in this thread. The tax for $30,000 (less the standard deduction and your exemption) is going to be ~$2500. Unless there's something going on with your health care subsidies. Did you receive a 1095-A? Panty Saluter posted:My wife and I were legally wed in November 2014. We have been living together since 2007. I am MFS (using H&R Block's site) since she has no income. If I'm reading this right I cannot claim her as a dependent but I still owe a penalty for her not having health care last year? I'm not trying to weasel out of anything but I'm hesitant to enter the return as I have it because I feel like I'm missing something. I added her to my employer's coverage shortly after we were wed (3-4 weeks later, during open enrollment). If she is not legally a dependent how am I responsible for her part in ACA? Especially before we were married? That's like having to pay a penalty because one of your roommates is uninsured as far as I can tell. Inst 8965 posted:For purposes of Form 8965, your tax household Publ 501 posted:Your spouse is never considered your dependent. Because your spouse is never a dependent, Form 8965 seems to indicate that if you're filing separately, she isn't part of your tax household, and therefore you don't need to seek an exemption for her. If you were filing jointly, you would. I guess first year of marriage might now be one of those edge cases where MFS is better. Please note, I haven't heard of any actual ruling from the IRS on this, this is just based on my reading of the pubs. sullat fucked around with this message at 05:02 on Feb 3, 2015 |
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Feb 3, 2015 04:00
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jon joe posted:irs.gov says I should use one these programs since I don't make very much money, is that really the best option? Sure, unless you want to go down to one of the VITA sites and get someone to help you. As long as your return isn't too complex you'll be fine.
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Feb 7, 2015 03:54
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OneWhoKnows posted:Well, that makes sense. I always thought you were including the issuer's EIN/SSN to help the IRS track what you were claiming as income, but I guess they already know! They don't know now, but will in 6-8 months and will send you a friendly reminder letting you know if you left that off your tax return.
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Feb 10, 2015 01:54
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AbbiTheDog posted:Depends on whether you feel like screwing around with a 1040X or not. Does the CP 2000 get issued if the IRS owes you an additional refund? I thought it was just for when they thought you owed more taxes.
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Feb 11, 2015 20:41
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DogsCantBudget posted:I feel like letting the gov't sit on 1000$ for 10 months is a bad idea/bad with money? So yeah, if you want to see that additional refund, file the 1040X.
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Feb 12, 2015 00:14
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Boris Galerkin posted:Another thing I'm not sure about is how to answer questions about my health insurance eligibility. I started my job in February and received health insurance benefits a month later. Before that I was without health insurance. Would I say I was eligible for a HDHP all year or no? Also I guess I'll need to pay taxes for the couple months I didn't have health insurance. Form 8965. Did you qualify for an exception?
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Feb 14, 2015 17:42
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urnisme posted:Only 2 child benefits can be transferred from the custodial parent to the non-custodial parent: the dependency exemption and the child tax credit. Your daughter's mother should sign an 8332 to allow you to claim the exemption and the child tax credit. She will still use your daughter as a qualifying person for the head of household filling status and earned income credit (and child and dependent care credit if she paid anyone to watch your daughter while she worked or went to school). If the rejection says that your daughter has already been claimed as a dependent, her mother claimed her for everything and you'll have to file on paper-and her mother should amend her return to remove your daughter as a dependent and remove the child tax credit for your daughter. Although first he should see if the kid's mother is even on board with this whole thing. While she is permitted to allow him to claim those two things, she is not required to. Even if, say, the divorce decree or court order allows him to do so every so often, the IRS don't care. They will just mechanically apply those rules, and if he doesn't meet the criteria and she doesn't want to sign the form/amend her tax return, he's kind of out of luck.
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Feb 15, 2015 18:24
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Harminoff posted:It is through the court, and I do have the signed 8332 form. The thing is she states she didn't get the child tax credit only the eic so I don't get why it's coming back as our daughter already being claimed as a dependent. What would she have to amend and what would she lose? OK, sorry, I thought this was one of the situations where there was a dispute. You need to include it with your tax return. Now, I would still talk to your baby mama and find out what she did on her return; if she listed the child on the top of her form, then she claimed the exemption. She might have received the "additional child tax credit" if she was getting a large refund, if her tax was zero or close to it. I don't know. The other possibility is identity theft (someone has acquired the kid's name and SSN and used it). In either case you'll need to file a paper return this year. This sounds more like the former situation (she claimed the exemption and the tax credit), if she did, then she would need to file an amended return. She'd be giving up $1000 for the child tax credit and pay an additional tax of (dependency exemption * her marginal tax rate).
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Feb 16, 2015 04:05
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Koppite posted:This year I have a huge state refund and owe a bunch in federal taxes. Will my state refund be automatically offset by the balance I owe the feds? No, you'll have to send in the payment to the feds on your ownsome. But the fed payment is not officially due until your filing deadline.
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Feb 18, 2015 18:17
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T. J. Eckleburg posted:Identity theft Seem to be doing everything correctly. I know it sucks, happened to my friends last year. IRS told them 6 months for the refund to be delayed and sure enough, it took that long.
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Feb 20, 2015 22:05
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shodanjr_gr posted:So this is probably a stupid question...how does the IRS know that I got employer provided health insurance? Is this something that gets reported by my employer separately and then just matched based on my social? Just wanna make sure that I don't get hit by a fine... On your w2, if box 12 has an amount with the code "DD" it represents the amount your employer spent on health care for you. Mind you, you'll still want to check the box on the 1040 to keep from having any delays in getting your refund.
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Feb 22, 2015 04:57
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The Big Whoop posted:Yes, even though I was a contractor it was consitered a self employment tax. Just get a repayment plan. You can request one on the IRS website, or send in a 9465 form to request one. 20 bucks a month should do it. I think they do charge a fee to have a payment plan, but you gotta do what you gotta do. Also, if you have to be an independent contractor, remember the SE tax. You may need to make quarterly estimated payments once you start to owe over a certain threshold. $1000, i think?
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Mar 8, 2015 16:25
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silvergoose posted:As a not preparer who already did his taxes, any specifics as to why this year sucks balls? And here I was thinking it was the 8962 and 1095 A stuff people were complaining about. I suppose that mostly is hurting the big tax preparer chains and fly by night operators.
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Mar 13, 2015 17:19
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Ron Don Volante posted:This is my first year filing taxes, and I have federal income to report from two different companies. The website I'm using predicts your tax return after each form you fill out. After I filled out my W-2 for the first company, my refund was around $3k. After I filled out my second W2, my refund dropped down to $600. Did I do something wrong? I assumed the refund would increase the more income I'm reporting. Could be a number of reasons. More income means more taxes, so you're not getting as much withholding back. Also check your withholding on job #2, might not have had as much. Also some credits are income-capped, like EITC, or you may now be responsible for the SRP now. The min-max budget types say to aim for small refund or small balance, since it is an interest free loan to the government, but people who like enforced saving or rely on the EITC are generally the ones with big refunds.
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Mar 23, 2015 03:58
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tishthedish posted:I got a letter from the IRS stating that I never filed my 2011 taxes. This came as a surprise to me; at the time, I was married, and my husband did the taxes. He didn't let me look at the computer when he was typing our information into his HR block account, and he locked up our financial stuff in his computer desk. He was six years older than me and I had never filed so I just assumed he knew what he was doing (also no matter what I said, he wouldn't let me see anything. Like, he minimized the window if I walked by his computer). We divorced May 2014 for reasons you may have guessed, and since it was a rather bad divorce, I have no contact info of his and don't know his whereabouts. Since it sounds like your ex didn't file for you, you'll probably need to file MFS. That way you won't need him to sign off on the return (but you will need his SSN). You'll probably need to itemize as well. Certain credits are also disallowed. Innocent Spouse Relief would be for a situation where you did file together and he deceived you or hid income from you. But you can always request abatement of the penalties and interest (if you owe for that year). sullat fucked around with this message at 14:58 on Apr 2, 2015 |
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Apr 2, 2015 14:52
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She can always get last year's return and income documents from the IRS website if you want to compare. Did sue change jobs or change her withholding for some reason?
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Apr 13, 2015 03:24
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MadDogMike posted:The IRS may contact you with a "send us copies of the W-2s" message, just mail/fax them in to wherever they say if so. Otherwise don't stress over it, I would think the IRS won't outright reject a 1040EZ that matches info they themselves already have. In the unlikely event I'm mistaken about that, there's no actual penalty for late filing a return if you don't owe money anyway, so you'll just mail in the whole thing again with your W-2s worst case, they won't penalize you financially (hell, forgetting to attach the W-2 forms is probably only beaten by "forgot to sign return" in mistakes the IRS sees). Yeah, only someone that paper files can forget their w2 or forget to sign, but everyone can forget to check the box. Although the tax prep software should prompt you to deal with the health care answers, I would hope. Probably doesn't remind you about your advanced premium tax credits, though.
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Apr 16, 2015 04:39
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Liam Emsa posted:Filed jointly for the first time this year. Filed in February. Got state back almost immediately, federal is still showing as processing. What's going on? Who knows? Someone at the IRS, probably should call them. Could be any number of things.
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Apr 16, 2015 18:32
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Omits-Bagels posted:I'm paying quarterly taxes for the first time this year because I stated making a decent amount of cash last year (self employed). My estimated payments are based off last years earnings so I pay about $5000 in taxes each quarter. quote:Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and estimated tax payments, or if they paid at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller. If you want to avoid a penalty, you should aim to pay at least 100% of your 2014 tax liability. But you also want to be able to pay the full balance at the due date, so increasing the estimated taxes ccertainly couldn't hurt.
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May 20, 2015 18:37
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Deep Winter posted:So apparently when paying my taxes online a few months ago I paid next years taxes 2015, instead of 2014. I'm getting papers saying we still owe, and of course the IRS is closed on the weekends. Is this something they can fix? Yeah, they can fix it. Do you like spending time on hold? If so, I have good news about that, too.
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Jun 6, 2015 19:36
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Could be anything, yeah. If your FIL is able to, he can call and find out what it is, and if necessary, work out something, either a minimum payment plan or a currently non-collectable request. If he isn't, someone will need to get a POA from him to work it out on his behalf. Form 2848 is the IRS POA form.
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Jun 23, 2015 03:18
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ya dangus posted:I work remotely and sometimes (2 - 3 times a month) travel to see clients. Beginning in August, I'd like to rent my house out and travel the country for the next six months. Can I still deduct travel expenses/mileage when I am conducting business (e.g. on-site client consultations)? If so, how does this typically work? I usually record business travel when traveling from my home, but, in this case, I would be presumably traveling from a friends place or hotel or wherever I'm currently located. I have clients in all of these locations (that I would visit otherwise), but I'd like to take advantage of the next six months and enjoy the sites along the way. Pub 463 talks about this briefly, but it is very fact-dependent. So it is really impossible to say without a detailed consult. Just think, though, at some point you may be summoned to the deepest sub-basement of the local federal building, where the unpopular agencies have their offices. As you walk down the damp hallways, feet crunching on the bones of rats or pigeons that have gotten lost amidst the paperwork, remember there will be a bent, old man hunched over his desk, hands trembling with joy over the thought of crushing the entrepreneurial spirit of the small business man. How will he respond when you say your meeting just happened to be at Disneyland? What will he think of the 17 mai tais on the receipt for breakfast? Can you justify these expenses with only your shoebox of receipts to back gou up?
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Jul 24, 2015 23:51
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No. 9 posted:I'm paying a little bit of my taxes in installments from last year, I have it currently set up to just directly withdraw from my checking account at the end of the month. Is it possible to switch to EFTPS (pay online whenever) instead at this point? I like the EFTPS set up much more and already have an account -- it's just not usable with the taxes I owe from last year. Figured it would be better asking here than waiting forever on the phone with the IRS. Thanks Unfortunately, it is probably best to call them and make the switch.
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Aug 20, 2015 02:45
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JohnnyPalace posted:I have a pretty basic question that I'm having trouble finding the answer to. My sister never filed her 2012 taxes, so I'm helping her with them. In 2013 she married and changed her name. On the 2012 1040ez, should she use her name as it was in 2012, which will match the W-2 and 1099 from that year, or her current name, which she used on her 2014 return? If you are filing electronically, the tax software will send the info to the IRS, which will make sure the name and SSN match their records, and reject it if it doesn't match. She will get an email to that effect. If one doesn't work, try the other. If you are filing on paper, some dead eyed filing clerk will pull out the cuneiform tablet with your sister's details on it, make sure it matches their records, and then sacrifice a lamb to Lugal Enlil, the god of tax collection, to ensure that he does not release the black hounds of the CP 2000 on her house. Also, she will have to wait another 3 months for her refund. So try filing electronically under the old name first.
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Sep 27, 2015 18:13
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Omne posted:My fiancee and I bought a house together (we are both on the mortgage and the deed) in late August. We are getting married in April of 2016. I'm a bit confused on how to handle the taxes on this (Tennessee). Can only one of us claim the house and mortgage interest deduction? Is it split between the two of us? "Pub 936 posted:More than one borrower. If you and at least
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Oct 17, 2015 02:51
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But if you think that you are actually an employee and not an independent contractor, you can file an SS-8 form to request a determination by the IRS. If they agree, they will try and collect the payroll taxes from your employer.
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Oct 21, 2015 03:32
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Nephzinho posted:Have asked a few questions in thread for friends, time to ask one for me. Without really knowing more, it is hard to say how to proceed. Was the 2014 return filed, or has the CPA just been sitting on it? Have you received a letter from the IRS?
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Nov 18, 2015 21:15
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Nephzinho posted:The return was filed. I paid a return to one state and was awaiting a return from another state. They needed more information concerning the error, a letter was provided to them, and it is unclear what I can do to get things sorted. I have not been contacted directly by the IRS, I found the issue through checking out the return status on the pending return, after which the CPA called in and found out they needed a letter from my employer which was provided ~2 months ago. The CPA has checked in with the IRS since then and they won't even confirm they got the letter, letalone if it is being worked out. I am concerned that they are waiting for a second letter from my previous employer that is never coming, which they may be expecting based on the error in the filing. OK, so let's see. You filed one federal return and two state returns. You had taxes due to one state, and were expecting a refund from the other state. You are also expecting a refund from the federal return. Is that correct? Now, both the state and federal returns are held up because the IRS needs a letter from your employer? Is this with regards to health insurance? As far as contacting the IRS, phone is probably better because you're not stuck in some office downtown, but even then, they'll probably just tell you to wait some more. Generally speaking, if the IRS is waiting for something and doesn't receive it, they will simply remove the credit/deduction/whatever from the return, and then either send you the remaining refund or a bill. But it can take a long time for that to happen.
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Nov 18, 2015 23:29
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OK, so this seems like a state issue. I don't think the IRS cares. So calling them or going to their office will probably be a waste of time. Also, this shouldn't affect your 2015 federal return, although if your state refund is taxable income, you report it the year you receive it as opposed to the year it was "supposed to" arrive. It sounds like you're amending both returns so that the income is apportioned between them properly. If that's already been done by the CPA, then yeah, waiting for the states to hand process your return and get the money sent out is a waiting game.
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Nov 19, 2015 00:45
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DaveSauce posted:Well that's what we were TRYING to do, is to withhold exactly as much as the IRS says is necessary. I feel stupid because that's a shitload of money that the IRS has so kindly been holding on to for us. Refunds over a certain amount may get additional scrutiny, I don't know what the precise dollar amount is. In my state, refunds over $50,000 have to be approved manually, although this is not always a bar, as one woman used faked w-2s to get a refund of over $2 million dollars a few years ago. She would have gotten away with it if she hadn't lost her pre-paid debit card and had to get it re-issued. Twice.
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Nov 21, 2015 17:52
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Whatever your status on 12/31/2015 controls. So try not to get divorced by then. You should deffo update your w4 so you have the appropriate amount of withholding.
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Dec 18, 2015 02:03
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Arkane posted:Thanks for the response. The IRS sucks. Congress did it, the IRS just enforces it. Besides, the tradeoff is you don't have to pay taxes on unrealized gains. sullat fucked around with this message at 17:55 on Dec 28, 2015 |
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Dec 28, 2015 17:52
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Maybe. Go to the IRS website and use the ITA (interactive tax assistant) and follow the checklist to see if she can be claimed. Generally, someone has to live with you to be claimed, but parents are often an exception to that rule.
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Dec 30, 2015 17:14
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When you fill out your return, you may get the opportunity to calculate your "failure to pay estimated tax penalty." Or the software may helpfully do it for you. If you have determined that you were not required to make estimated tax payments during 2015, don't submit your return with those included. If the IRS disagrees, they will contact you and let you know.
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Jan 2, 2016 20:31
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You probably don't want to tell us what the bonus is so we don't get jealous, but if last year you weren't required to make estimated tax payments, then you wouldn't be subject to the penalty for not doing it. As far as quarterly estimated tax payments are concerned, you should definitely make them if you're otherwise going to have a big tax bill when you file. It definitely counts as income for 2015, too.
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Jan 7, 2016 18:19
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C-Euro posted:Another marriage + tax question after my last one: we both started new jobs a few months before we got married this year. When filling out W-4s for those jobs we both put ourselves down as "Single" which obviously changed when we got married. I know for a fact that I never updated my W-4 to say I was married and I'm willing to guess my wife never did either. Is that going to be an issue for our 2015 return? Probably just going to have more withholding than you actually needed, might want to adjust that if you want to.
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Jan 14, 2016 01:45
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alnilam posted:Obviously this is the best reason, but to hear some people describe it, rich people donate primarily for tax reasons which doesn't make any sense to me because, well, you're still donating money moreso than your tax benefit is. I guess the people who describe it that way are just wrong? Also, there's the aspect of control. Do you want to give $2000 to the military-industrial complex or the poors, or do you want to give $1500 to the MIC and maybe $2000 to your church so they can do what they want with it? Or to a foundation that you control and that isn't solely limited to charitable giving (like Facebook guy)? Ur Getting Fatter posted:Today I got a letter from the IRS saying I owed them about to 90 bucks from my 2014 filing due to "Failure to pay proper estimated tax penalty", "Failure-to-pay penalty" and Interest charges. 1: If you owe more than $1000 dollars habitually, you may be required to make estimated tax payments. There is a penalty for not doing so; usually turbo tax or whatever calculates it for you. If you owe taxes, they have to be paid by 4/15 regardless of any extensions you file. 2: The IRS will say that you are responsible for paying taxes on time and keeping up with your correspondence. There are penalties and interest on tax liabilities, but on $90 it isn't going to be too much for paying a month late. 3: Looks good.
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Jan 20, 2016 15:46
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Turkeybone posted:I work as a restaurant sales analyst for a liquor distributor -- what are the chances that I can write off wine and liquor that I purchase for myself as "market research"? That is not nearly enough information to even guess at an accurate answer.
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Jan 21, 2016 19:00
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