Cryptocurrencies tax - Made money last year but lost more than that this year.

Each year is separate. So, you cannot at this time use your 2018 losses to offset your 2017 profits. Note, that if you are in the trade or...

My husband wants a divorce yet wants to file our taxes jointly for the 1st time since we were married. Should I do this?

Although my understanding of your situation is limited, I would strongly advise that you file separately from your husband. If you file jointly,...

How do I know how much i owe to IRS if I'm not filing by April 17 and requesting an extension to file.

The purpose of allowing extensions is to enable people to gather their records, sometimes from third parties, to file an accurate return. You can...

Hello, I receive a CP2000 in the mail today proposing that I owe $8,922. What is the best way to go about handling this?

You should hire a tax attorney or tax-savvy CPA to review the notice with you and help you understand it. It is important that you timely respond...

Can someone just use my social security number without my permission the filing taxes?

Your sister does not need your permission to claim you as a dependent. What she does need is to have the facts supporting her claim. For example,...

What you have probably received is a CP-2000 notice. If your response to the IRS is not acceptable to them, you have the right to petition the US...

Do my sister and I both have to sign the 2017 tax return for my mother’s estate? We are coexecutors.

It is not unusual for co-executors to be able to authorize transactions and sign tax returns independent of the other. But, it depends upon the...

My husband took a distribution on his 401k and did not roll it over. We can't pay the taxes due. Is it best to file separately

You are identifying the correct issue. If you file separately, the IRS can hold each of you liable only for your own taxes. But, if your husband...

Go onto www.irs.gov and set up access to your account with the IRS. Then download your account transcript and your wage and income transcripts...

What do I do when my ex claimed our child on taxes when it is my year?

Mail your return into the IRS. They will then send you a notice regarding the dependency exemption. You should mail via certified mail. ...