My mother had a problem with the IRS last week, as they took out $800 from my college savings account. They were able to do this because we had a joint account set up. She then called the IRS a first time asking if they could put the money back or if she could do payments. One of the workers then told her that the...
Do not claim exempt. You do not know when something might change that would make even one dollar subject to tax. You don't have to give the IRS a great big interest-free loan; you can minimize it. I find it odd that with everything else you told us, you did NOT say how many allowances you have been taking on...
Tax threshhold is 12,000 per year.
The system is not always right, and an offset could start at any time. It can still be taken.
I have a son who is over 18 and still lives with me. Note, he is my only child. I have claimed him in the past no problem. This year I went to H&R Block instead of e-filing. She told me I was eligible for a child tax credit or CTC for my son. Of course I said yes, unknowingly. I just read that they have to be...
I filed on February 1st and it said it’s still processing. It’s been 11 or 12 days since then.
No. A few years ago I had a small contract $1200 that never 1099'd me. Around June [it was dated May], post March filing, I received it. By August of that year I received a notice from the IRS for the difference. Since they paid my full refund I sent them the check as instructed.
I've always used an accountant-he charges $400. Now, with the new tax law I',ll likely take the standard deduction- 24,000 for a married couple. and so it seems it will be a simple tax return.
What is the best way- do you recommend Turbotax or another online company- how about H&R block.