Archived
I converted Roth IRA and deferred income to 2011 & 12. I move. Which state taxes the deferred income?
Henry's answer
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Answered on April 16, 2011
You are allowed to make an election to pay the entire tax on the conversion in 2010. Make this election for your 2010 income tax return and avoid...
Archived
Can I file taxes without 1099?
Henry's answer
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Answered on April 16, 2011
A 1099 is just an information return. You need to include the income you received regardless of whether you received a 1099 or not. There is no...
I filed form ss-8, do i file the form 1099?
Henry's answer
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Answered on April 16, 2011
It can take up to 6 months to receive a ruling from the IRS on a Form SS-8. Then the required forms are due based on their determination of...
Archived
Application for Naturalization and Tax Filing Requirement
Henry's answer
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Answered on April 16, 2011
If you had no income you had no filing requirement - so you did not fail to file a "required" tax return.
Archived
Do I have to declare full amount of government refund as income if ex got half?
Henry's answer
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Answered on April 16, 2011
If your ex rolled the funds into another plan then tax would only be owed on half. If she did not roll it over and you did not roll it over, then...
Archived
Is there a penalty for not filing a pass-thru estate return by the tax filing deadline?
Henry's answer
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Answered on April 16, 2011
I agree with attorney Robert. An automatic extension should be filed, the tax now due paid, and the return filed before the extended deadline. ...
Archived
Do I declare money put into a Coverdell accounts for my children?
Henry's answer
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Answered on April 16, 2011
No - Pursuant to IRS Guidelines:
Transfer Because of Divorce
If a spouse or former spouse receives a Coverdell ESA under a divorce or...
Archived
Is it legal for my job to tax me half of my gross wages. I work in a restaurant in CA and I do get tipped but i don't claim them
Henry's answer
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Answered on April 16, 2011
The restaurant can deduct meals from your check and is required to deduct allocated tips. Much of the income received by employees in a restaurant...
Archived
Who pays taxes (if any) on dividends from stocks held in an Estate? The Estate or its heirs?
Henry's answer
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Answered on April 16, 2011
You can receive a K-1 from the filing of a return (Form 1041) by the estate as an heir. Whether the one you actually received is correct will...
Archived
My mother is 78 years old. She receives 1350. a month from SS. She has a IRA for a little over 8000..
Henry's answer
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Answered on April 16, 2011
The IRA is included in her income if she takes the money out. She will not be subject to the 10 percent penalty.
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