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How spouses earn Social Security benefits

A spouse is considered an employee if there is an employer/employee type of relationship, i.e., the first spouse substantially controls the business in terms of management decisions and the second spouse is under the direction and control of the first spouse. If such a relationship exists, then the second spouse is an employee subject toContinue Reading

How can I check the status of my amended return?

Q) How can I check the status of my amended return? A) You can check the status of your Form 1040X (PDF), Amended U.S. Individual Income Tax Return, using the “Where’s My Amended Return?” (WMAR) online tool or the toll-free telephone number 866-464-2050 three weeks after you file your amended return.  Both tools are available in English and Spanish andContinue Reading

Filed Under: IRS

Husband and Wife Business – What is a Qualified Joint Venture?

On May 25, 2007 the Small Business and Work Opportunity Tax Act of 2007 was signed into law and affect changes to the treatment  of qualified joint ventures of married couples not treated as partnerships. The provision is effective for taxable years beginning after December 31, 2006. The provision generally permits a qualified joint venture whoseContinue Reading

How do I find out if some one cashed my refund check?

Q) How do I find out if some one cashed my refund check? A) If you need to know whether your federal tax refund check has been cashed, you can initiate a trace on your refund by using one of the following methods: You can use the “Where’s My Refund?” system available through the IRS website. You can callContinue Reading

Filed Under: IRS

Do we take the standard deduction for our house interest payments or do we take 20% of the actual tax amount paid

Q) We live in Grand junction Colorado and bought a house here. We have a mcc a mortgage credit certificate that says we can deduct 20% from our interest paid on our first mortgage. The interest paid is less than the standard deduction. Do we take the standard deduction or do we take 20% of theContinue Reading

Who is Self-Employed?

Generally, you are self-employed if any of the following apply to you. You carry on a trade or business as a sole proprietor or an independent contractor. You are a member of a partnership that carries on a trade or business. You are otherwise in business for yourself (including a part-time business)

Category Archives: IRS

I messed up my 2016 federal tax form and asked for assistance

Q) I messed up my 2016 federal tax form and asked for assistance from the local IRS people. They told me to go to a $200-$500 tax adviser. I guess paying too much tax ain’t their concern.

A) According to the IRS: You can fix mistakes or omissions on your tax return by filing an amended tax return. If you need to file one, these tips can help.

Must be filed on paper. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct your tax return. It can’t be e-filed. You can get the form on IRS.gov/forms at any time. See the Form 1040X instructions for the address where you should mail your form.

Amend to correct errors. File an amended tax return to correct errors or make changes to your original tax return. For example, you should amend to change your filing status, or to correct your income, deductions or credits.

Don’t amend for math errors, missing forms. You normally don’t need to file an amended return to correct math errors on your original return. The IRS will automatically correct those for you. Also, do not file an amended return if you forgot to attach tax forms, such as a Form W-2 or a schedule. The IRS will mail you a request for them in most cases.

Form 1095-A, Health Insurance Marketplace Statement, errors. Some taxpayers may receive a second Form 1095-A because the information on their initial form was incorrect or incomplete. If you filed a 2015 tax return based on the initial Form 1095-A and claimed the premium tax credit using incorrect information from either the federally-facilitated or a state-based Health Insurance Marketplace, you should determine the effect the changes to your form might have on your return. Comparing the two Forms 1095-A can help you assess whether you should file an amended tax return, Form 1040X.

Three-year time limit. You usually have three years from the date you filed your original tax return to file Form 1040X to claim a refund. You can file it within two years from the date you paid the tax, if that date is later. That means the last day for most people to file a 2012 claim for a refund is April 18, 2016 (April 19 for taxpayers in Maine and Massachusetts). See the Form 1040X instructions for special rules that apply to some claims.

Separate forms for each year. If you are amending more than one tax return, prepare a 1040X for each year. You should mail each year in separate envelopes. Note the tax year of the return you are amending at the top of Form 1040X. Check the form’s instructions for where to mail your return.

Attach other forms with changes. If you use other IRS forms or schedules to make changes, make sure to attach them to your Form 1040X.

When to file for corrected refund. If you are due a refund from your original return, wait to get it before filing Form 1040X to claim an additional refund. Amended returns take up to 16 weeks to process.

Pay additional tax. If you owe more tax, file your Form 1040X and pay the tax as soon as you can to avoid possible penalties and interest from being added to your account. Use IRS Direct Pay to pay your tax directly from your checking or savings account. Source https://www.irs.gov/newsroom/amending-your-tax-return-ten-tips

I am trying to figure out who has been claiming my child and getting eic for her

Q) I am trying to figure out who has been claiming my child and getting eic for her A) According to the IRS ..… suspect or know of an individual or a business that is not complying with the tax laws on issues such as: False Exemptions or DeductionsKickbacksFalse/Altered DocumentFailure to Pay TaxUnreported IncomeOrganized CrimeFailure to WithholdContinue Reading

 We bought our home in 2000 for $60,500. We sold it in July for $60,000. How do I put this on my income tax return for 2018?

Q) We bought our home in 2000 for $60,500. We sold it this last July for $60,000. How do I put this on my income tax return for 2018? A) Most people use the Schedule D form to report capital gains and losses that result from the sale or trade of certain property during the year. As ofContinue Reading

Filed Under: IRS

118 Responses to Click to Tell Us Your Experience At Your Local Tax Office

  1. According to the IRS: You can fix mistakes or omissions on your tax return by filing an amended tax return. If you need to file one, these tips can help.

    Must be filed on paper. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct your tax return. It can’t be e-filed. You can get the form on IRS.gov/forms at any time. See the Form 1040X instructions for the address where you should mail your form.

    Amend to correct errors. File an amended tax return to correct errors or make changes to your original tax return. For example, you should amend to change your filing status, or to correct your income, deductions or credits.

    Don’t amend for math errors, missing forms. You normally don’t need to file an amended return to correct math errors on your original return. The IRS will automatically correct those for you. Also, do not file an amended return if you forgot to attach tax forms, such as a Form W-2 or a schedule. The IRS will mail you a request for them in most cases.

    Form 1095-A, Health Insurance Marketplace Statement, errors. Some taxpayers may receive a second Form 1095-A because the information on their initial form was incorrect or incomplete. If you filed a 2015 tax return based on the initial Form 1095-A and claimed the premium tax credit using incorrect information from either the federally-facilitated or a state-based Health Insurance Marketplace, you should determine the effect the changes to your form might have on your return. Comparing the two Forms 1095-A can help you assess whether you should file an amended tax return, Form 1040X.

    Three-year time limit. You usually have three years from the date you filed your original tax return to file Form 1040X to claim a refund. You can file it within two years from the date you paid the tax, if that date is later. That means the last day for most people to file a 2012 claim for a refund is April 18, 2016 (April 19 for taxpayers in Maine and Massachusetts). See the Form 1040X instructions for special rules that apply to some claims.

    Separate forms for each year. If you are amending more than one tax return, prepare a 1040X for each year. You should mail each year in separate envelopes. Note the tax year of the return you are amending at the top of Form 1040X. Check the form’s instructions for where to mail your return.

    Attach other forms with changes. If you use other IRS forms or schedules to make changes, make sure to attach them to your Form 1040X.

    When to file for corrected refund. If you are due a refund from your original return, wait to get it before filing Form 1040X to claim an additional refund. Amended returns take up to 16 weeks to process.

    Pay additional tax. If you owe more tax, file your Form 1040X and pay the tax as soon as you can to avoid possible penalties and interest from being added to your account. Use IRS Direct Pay to pay your tax directly from your checking or savings account. Source https://www.irs.gov/newsroom/amending-your-tax-return-ten-tips

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I am trying to figure out who has been claiming my child and getting eic for her

Q) I am trying to figure out who has been claiming my child and getting eic for her A) According to the IRS ..… suspect or know of an individual or a business that is not complying with the tax laws on issues such as: False Exemptions or DeductionsKickbacksFalse/Altered DocumentFailure to Pay TaxUnreported IncomeOrganized CrimeFailure to WithholdContinue Reading

 We bought our home in 2000 for $60,500. We sold it in July for $60,000. How do I put this on my income tax return for 2018?

Q) We bought our home in 2000 for $60,500. We sold it this last July for $60,000. How do I put this on my income tax return for 2018? A) Most people use the Schedule D form to report capital gains and losses that result from the sale or trade of certain property during the year. As ofContinue Reading

Filed Under: IRS

My husband won 14,000.00 at casino..Can he claim all the losing lotto tickets … to wash out taxes?

Q) My husband won 14,000.00 at casino in Delaware we live in Md. Can he claim all the losing lotto tickets he has lost this year to wash out taxes owed for this 14,000.00 winning. Also what is the tax percentage to Maryland and Federal for tax withholding on this amount. A) According o TurboTax.comContinue Reading

Do we take the standard deduction for our house interest payments or do we take 20% of the actual tax amount paid

Q) We live in Grand junction Colorado and bought a house here. We have a mcc a mortgage credit certificate that says we can deduct 20% from our interest paid on our first mortgage. The interest paid is less than the standard deduction. Do we take the standard deduction or do we take 20% of theContinue Reading

How do I request a non-filing verification letter?

Q) How do I request a non-filing verification letter? A) An IRS Verification of Non-filing Letter – provides proof that the IRS has no record of a filed Form 1040, 1040A or 1040EZ for the year you requested. Non Tax filers can request an IRS Verification of Non-filing of their 2015 tax return status, free of charge,Continue Reading

Filed Under: IRS