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How do I note on the return that someone can claim me as a dependent?
You’re on the right track in addressing this — depreciation is required, and missing it does need correction. The IRS typically requires you to “catch up” all prior depreciation in one year using For... See more...
You’re on the right track in addressing this — depreciation is required, and missing it does need correction. The IRS typically requires you to “catch up” all prior depreciation in one year using Form 3115 (Change in Accounting Method). The total adjustment, called a Section 481(a) adjustment, reflects all the depreciation you should have taken since the property was placed in service. Yes, this can create a large deduction in one year and may reduce your taxable income significantly, possibly even creating a loss. It could also impact your eligibility for certain credits, like health insurance subsidies, so it’s worth reviewing your full tax picture before filing.
be sure to determine what is meant by those "covered" under the plan. the plan may define that as just the employee or the employee and family members. 
if the employer discovered the error in 2025 and paid you renumeration in that year, the reg says the employer can deduct it from your 2025 renumeration.  if none was paid, the obligation of the empl... See more...
if the employer discovered the error in 2025 and paid you renumeration in that year, the reg says the employer can deduct it from your 2025 renumeration.  if none was paid, the obligation of the employee to the employer with respect to the undercollection is a matter for settlement between the employee and the employer. the last sentence means you should see a lawyer that specializes in employee compensation issues.      however, when did the employer "ascertain" the error. that too is a question for a lawyer 
Question is: do I have to pay them back for the years they didn’t withhold the FICA taxes? We are talking about 4 years and amount 27k. Is that legally right?
don't see what you are saying the employer must collect the amount of the undercollection on or before the last day of the calendar year by deducting the amount from remuneration of the employee, i... See more...
don't see what you are saying the employer must collect the amount of the undercollection on or before the last day of the calendar year by deducting the amount from remuneration of the employee, if any, paid after the employer ascertains the error.
I have installed 3 total units. They are Pioneer brand. 1) 18,000 BTU 19 SEER2 Ductless Mini-Split Inverter+ Air Conditioner Heat Pump 2) 9,000 BTU 21.7 SEER2 Ductless Mini-Split Inverter+ Air Conditi... See more...
I have installed 3 total units. They are Pioneer brand. 1) 18,000 BTU 19 SEER2 Ductless Mini-Split Inverter+ Air Conditioner Heat Pump 2) 9,000 BTU 21.7 SEER2 Ductless Mini-Split Inverter+ Air Conditioner Heat Pump System
I recently discovered that my employer did not withhold FICA taxes (Social Security and Medicare) for me from 2022 to 2025 after I changed my status from F-1 to H-1B. The company is now asking me to ... See more...
I recently discovered that my employer did not withhold FICA taxes (Social Security and Medicare) for me from 2022 to 2025 after I changed my status from F-1 to H-1B. The company is now asking me to repay the full amount (~$27,000).   From my understanding of IRS regulations (26 CFR §31.6205-1(d)(1)):   If the undercollection is discovered within the same calendar year, the employer may recover it from the employee. If the year has already closed, the employer cannot legally require the employee to repay prior-year FICA taxes — the responsibility rests with the employer.     I was fully compliant with my visa status and the company processed my H-1B petition, so they were aware of my status change. I cannot afford to repay this amount, and I plan to ask the payroll/HR team to review the matter with Legal/Tax to ensure compliance.   Has anyone encountered a similar situation? How did your company handle it?   do I have to pay them back?  
This is incorrect. You do not need to live in a federally declared disaster area to claim and deduct a casualty loss from a Ponzi-type theft.   The issue is more one of providing the IRS with suffi... See more...
This is incorrect. You do not need to live in a federally declared disaster area to claim and deduct a casualty loss from a Ponzi-type theft.   The issue is more one of providing the IRS with sufficient substantiation to support your assertion that a bona fide crime took place. Court records, criminal complaints, and detailed records of the crime will all be required. Be prepared for scrutiny depending on how large the loss is in relation to your annual income. At least you referenced the correct section of the Code (Rev. Proc. 2009-20), but please do not opine if you didn’t read or understand it.
What $75?   Your fee for using the software?   Or federal or state tax due?   It is too late to use online now for a 2024 return.   If you have more work to do on a 2024 return you will need to use t... See more...
What $75?   Your fee for using the software?   Or federal or state tax due?   It is too late to use online now for a 2024 return.   If you have more work to do on a 2024 return you will need to use the downloaded desktop software on a full PC or Mac, and your return can only be filed by mailing it in an envelope.   It must be printed, signed and dated in ink, and mailed to the IRS/state.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/printers-printing/finish-prior-year-return-started-turbotax-online/L9Oe4M90A_US_en_US?uid=m68tffpe   If you already paid for your online software you can ask customer support for a download of the desktop software.   They are available from 5 a.m. to 5 p.m. Pacific time Monday - Friday   https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number     If you are getting a refund, there is no penalty for filing late.  If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe.  Only the IRS will calculate this—TurboTax will not calculate it.     When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.    
More importantly., does Social Security think you are dead? If YES, you should work the issue with Social Security first. Then you can file a 2024 or 2025 tax return with status "Single".   It do... See more...
More importantly., does Social Security think you are dead? If YES, you should work the issue with Social Security first. Then you can file a 2024 or 2025 tax return with status "Single".   It does not seem efficacious to amend a return from more than three years ago to un-report  a death by reporting a different death.   @Zstapp 
Sorry--no.   TurboTax has had refund anticipation loans for the past several years that are offered in January and February; you do not get any money until the IRS accepts your e-file.  The IRS does ... See more...
Sorry--no.   TurboTax has had refund anticipation loans for the past several years that are offered in January and February; you do not get any money until the IRS accepts your e-file.  The IRS does not begin to accept e-files until late January.  And the loan has to "offered" to you---you cannot request it.
I use TurboTax Home & Business. We bought a cabin in 2020 that we converted from a primary home to a short-term rental when career plans changed. It's been rented out about 90% of the time and not us... See more...
I use TurboTax Home & Business. We bought a cabin in 2020 that we converted from a primary home to a short-term rental when career plans changed. It's been rented out about 90% of the time and not used for personal use for over 4 years now. I just realized we have not been depreciating the cost of the house, only the improvements and furniture we bought for it, because the purchase price was not a question when I filed in 2020, maybe because we converted it that year. How can I start depreciating the value of the house on my taxes? Do I need to amend the last 4 or 5 years? I can't find anywhere in the program to input purchase price, only mortgage interest.   We also bought a triplex investment property this year with cash, no mortgage, so this problem is going to come up again when I file next year. Do I need to find a specific form since it doesn't appear to be part of the questionnaire process? 
Yea I think so….. I’m shocked at their lack of knowledge or lack of caring when it’s a substantial tax burden I’m  looking at ….. mailing it in I guess…. Thanks 
The software doubled the amount entered as "Federal Tax Withheld" offering no means to back track to correct the amount. (An attempt was made to generate a second tax copy but the broker would not p... See more...
The software doubled the amount entered as "Federal Tax Withheld" offering no means to back track to correct the amount. (An attempt was made to generate a second tax copy but the broker would not permit a second download.)    
@Kbird35 wrote: .....Which is a little disturbing... I agree and find that a LOT disturbing. Time for a new attorney and accountant, IMO.