We'll help you find the right solution for your needs
Does this sound like your topic?
I'm freelancing remotely. A client in Detroit is ready to start having me work for them, but they didn't ask for any IRS forms such as W-9. They say they will just transfer me money when I invoice them. There will be no 1099 forms sent to me. A...
I fully agree with the previous answers. You have several incentives to report the income:
1. It is a crime not to do so. Hundreds of people each year are convicted of filing false tax returns.
2. You get credit for social security by reporting the income.
3. Your ability to get mortgage loans or financing for business will require showing your income with a tax return.
How can the IRS know? If you get audited, they can look at your life style. They will look at your bank deposits. They will look at cash transactions that are reported to them. They get tips from time to time. And, possibly they can subpoena Avvo for your information as they may be reading these questions.See question
The state of North Carolina want me to file taxes and I didn't receive a 1099misc from the town.
It all depends on the amount. But, I suspect you do have to file a tax return to report the disposition of land condemned. Note that you may be able to avoid tax on the gain (if any) on such transaction by reinvesting the monies. Seek the advice of a tax attorney or CPA to determine your best course of action.
Good luck.See question
I need to create an S Corp for tax purposes.
You can form an S Corporation in California. What actually happens is that you form a corporation under State law. Then , you elect S Corporation status under federal and state rules to allow such treatment. You should consult with a tax attorney or CPA to determine whether using an S Corporation for your business will allow you to meet your goals and be the best course of action. Good luck.See question
I raised my grand daughter since she was 3 years old. She is now 21. I recently found out my daughter had claimed her on her taxes. What is the possible penalty to my daughter for fraud tax filing. My grand daughter lived with me 100%
Technically, if your daughter made these claims with intent to defraud, the penalties could be criminal. But, that is not at all likely. If both you and daughter are claiming your grand-daughter, the IRS usually stops that by a matching of SS#s. And, the penalty is the loss of the deduction as well as a negligence penalty of 20% of the tax. How do you know for sure that your daughter is claiming your granddaughter?See question
Someone I worked for (freelance) in 2017 wrote "0" on my 1099 form as the amount of income I made in 2017 working for him. It also looks like White-Out was used to cross out the amount I made and "0" was handwritten. Isn't that illegal? Should I ...
First of all, 2017 forms 1099s have not been issued. Second, you report what you made regardless of what the form 1099 states. If the 1099 is less than what you actually earned, you report what you earned. Reporting him gets you nowhwere and suing him gets you nothing.
Also, the entire scenario does not make sense. Why would he give you a 1099 showing zero? Possibly the person is attempting to get you trouble by under-reporting your income?
Good luck.See question
Pleaded guilty to misdemeanor failure to file income taxes. Received 3 yrs probation and restitution payments. I am making my payments. Never late. Today I received a certified letter from the IRS saying they intend to levy me. (wages, proper...
If the notice came certified mail, it will usually be a letter LT-11 or a Letter 1058. If so, it provides you the right to a hearing which you should take advantage of. You should consult with a tax attorney. Possibly, your restitution may be different from other taxes you owe. You may have to complete financial information (form 433-A) and deal with the Collections units of the IRS. Consult a tax attorney asap or a CPA familiar with IRS Tax Collection Procedures.See question
Hi, So, recently (2 years ago - First Tax Year 2015) became self employed. 1. Made no est. payments for TY 2015 but DID file on time for in April 2016. Total liability 12K. Began installment plan $200.00 a month with auto deduct in August 2...
Yes, you can do what you propose. Simply call and work with an IRS assister once you make the payment. If you are unable to, ask to speak to a manager. It is your right.
Good luck.See question
I owe the IRS about 30,000 for tax years 14, 15, and 16. Plus Im in debt in the amount of 80,000 with my truck included with loans and credit cards. Im barely maintaining and I cant afford to pay the IRS right now. I make about 77,000. - 80,000 a ...
I agree with previous answer. One who is well-versed in both bankruptcy and tax is what you need. But, from your facts, I can give you some information.
1. You need to start paying your taxes as you go. A pattern of taxes due for each of 2014, 2015 and 2016 tells me that you are not paying your estimated taxes timely and/or in the proper amounts. Work with a CPA to make sure you won't owe for 2017, 2018, 2019, etc. If you cannot pay your current taxes, you will never be able to work a permanent resolution for your past taxes.
2. Income taxes are dischargeable in bankruptcy only if the tax year is more than 3 years old if timely filed, 2 years for older years. At best, at this time, you could only secure bankruptcy protection for 2014.
3. You can work out with the IRS a partial pay installment agreement or being paced in CNC status (Currently Not Collectible). If you do this, after a few years, you can then seek bankruptcy protection for the taxes and the other debt.
4. Keep in mind not to let the tail wag the dog. If you need relief from the $80,000 of non-IRS creditors, it may be prudent for you to seek bankruptcy protection now.
There are people who specialize in bankruptcy and tax representation. Robert Fedor in Ohio is one of them.See question
There was a year lease that expired 2 years ago and I never renewed. She told me on the eve of June 18 that she was moving July 1st. Do I have toreturn security deposit?
The answer depends upon the terms of your lease. You should consult with an attorney and have them review the lease and any other communications you have with the tenant.See question
Hi, In 2015 my father claimed me on his taxes. I had to file a 1099M from my "employer." I tried to do this on my own using 1040.com, but it was denied. I ignored the situation, and figured my dad got it sorted it out. Now in 2017, and rece...
The CP2000 is only the first step of the process. You can dispute it. 1st step is to hire a pro to prepare an amended return for the year in question and then respond to the CP2000 notice. If you do not respond quickly enough you will likely receive a Notice of Deficiency providing an opportunity to go to Tax Court. You can file on your own to go. After you file, you will be provided an opportunity to speak to an Appeals Officer as an attempt to settle the issue. That Appeals officer will likely help you through the process and explain what is going on. You may not be able to afford assistance at that level. But, there are generally low income tax clinics that may be able to assist you. Good luck.See question