data and analysis
Are Social Security disability attorney fees tax deductible?
Note also that if you hired a disability attorney to help you win your Social Security benefits, you can deduct the cost of the attorney’s fee so you don’...
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media and communication
Does broker report to IRS?
Brokers must submit a 1099-B form to the IRS as well as sending a copy directly to every customer who sold stocks, options, commodities, or other securiti...
data and analysis
How to request a levy from the IRS?
To request the release of a levy due to a coronavirus hardship, please contact your revenue officer point of contact or fax 855-796-4524 following these i...
education and learning
Can I use free TurboTax if I have a 1099 DIV?
TurboTax Federal Free supports both Form 1099-DIV and Form 1099-INT; however, you would need to upgrade to the Premier version of TurboTax Online if you h...
science and technology
Can an enrolled agent go to tax court?
United States Tax Court (USTC) Typically, only attorneys can represent a person in court; however, other Circular 230 professionals, including enrolled ag...
civics and society
How do I correct a mistake on filed taxes?
If you want to make changes after the original tax return has been filed, you must file an amended tax return using a special form called the 1040X, enter...
civics and society
What is passive active loss?
Passive activity loss rules are a set of IRS rules that prohibit using passive losses to offset earned or ordinary income. Passive activity loss rules pre...
science and technology
What is 1099-MISC income?
Form 1099-MISC: Miscellaneous Income (or Miscellaneous Information, as it’s called starting in 2021) is an Internal Revenue Service (IRS) form used to rep...
health and wellbeing
Are RMDs back for 2021?
If you delayed your first RMD until April 1, 2020, you avoided both the 2019 and 2020 RMD. However, in 2021 you will have to take your first RMD. This RMD...
data and analysis
How do I get a copy of my 1099 from Lyft?
If you’re eligible for a 1099-K or 1099-MISC form, they can be downloaded from the Tax Information tab of your Driver Dashboard. You’ll likely still have ...
data and analysis
Can property be sold in cash?
Receiving cash for sale of immovable property is illegal. It does not matter if you register it with correct amount or you deposit it in bank account. Rec...
education and learning
Are payroll taxes Pretax?
Pretax deductions may lower Federal Insurance Contributions Act (FICA) taxes, federal and state income taxes, and employer-paid payroll taxes like the Fed...
media and communication
Can a child still be claimed for Head of Household?
If he/she was a student (under 24) for at least 5 months and lived with you for more than half the year, and did not provide more than 1/2 his own support...