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IRS Notification re Estimated Tax Penalty

A tax preparer reviewed and filed my 2024 Federal taxes. The completed return showed that I was due a refund and did not include any penalties. I received the refund, which was lower than the amount on the return, and subsequently received IRS Notice... read more

Clarification Needed Regarding Penalties for Estimated Taxes

I keep hearing language around a "late payment penalty" or a "underpayment penalty" or an "estimated tax penalty." Ideally it doesn't come to fruition but should a penalty be imposed by the IRS, how does that get communicated to the tax payer? Let's ... read more

Amending a tax return

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I'm planning to move outside the usa. Do i still need to file taxes. I am currently collecting social security and i trade stocks. Thanks.

IRS Letter 4870

I arranged for direct pay from checking account for balance due to be done April 10, 2025. I received an IRS letter 4870 dated April 11 that e-file payment was rejected/returned because "no account/unable to locate account". I am certain that I typed... read more

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What is the probability that the IRS will waive the penalty of RMDs in 2025 for inherited IRAs and for traditional IRAs?

Landlord filing 1099-NEC without contractor's info

Hi, I am a landlord with 1 house for rent in TN. Last month I had a contractor came out and he did some repairs on the house, which I paid 800 dollars. I understand that I need to do the form 1099 NEC given this amount but the contractor is ignoring ... read more

TurboTax Software Error – Incorrect Default Setting Caused Miscalculation of Taxable Social Security

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Selling rental property owned by estate

My mom has a rental property in her trust, she passed away in 2024. The rental is still in her estate, not yet transferred to me yet. The rental was appraised at $500,000. 1. If we keep it in the estate and sell for $500,000, will there be any capita... read more

I'm currently still waiting on my refund. DD date was 3/3/25. No deposit....I spoke with IRS, they informed me that Cross River Bank has my funds. When will they release?

I don't have an account with Cross River Bank, they weren't able to tell me anything. Also IRS informed that I don't owe ANY debt and should've received my refund by now. Im ready to get legal counsel regarding the situation.

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IRS Notification re Estimated Tax Penalty

Clarification Needed Regarding Penalties for Estimated Taxes

Amending a tax return

Moving

IRS Letter 4870

RMD Waivers

Landlord filing 1099-NEC without contractor's info

TurboTax Software Error – Incorrect Default Setting Caused Miscalculation of Taxable Social Security

Selling rental property owned by estate

I'm currently still waiting on my refund. DD date was 3/3/25. No deposit....I spoke with IRS, they informed me that Cross River Bank has my funds. When will they release?

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