How are income taxes filed for a deceased person?
- July 16th, 2020
- David Greene
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When a spouse dies, assuming the couple filed as Married Filing Joint, the surviving spouse will still file a joint return for the year in which the spouse died. A death certificate must be attached to the return. For this…
What are the criteria for forgiving a PPP loan?
- July 9th, 2020
- David Greene
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The process to have your PPP loan forgiven is very complicated and is still being fine tuned by SBA, but here are some of the rules. (1) All funds must be used for covered expenses within 24 weeks of receiving…
What should a taxpayer do after receiving a threatening letter from the IRS?
- July 7th, 2020
- David Greene
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Even though most IRS offices are still closed due to COVID-19, some letters, computer generated and otherwise, are still being sent. When a person receives any Notice from the IRS, here are several things he can do: (1) Don’t panic. …
How can one prove a tax return was filed if the IRS says it was not?
- June 17th, 2020
- David Greene
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Was the return sent by certified mail, return receipt requested? If so the green card signed by someone at the IRS and a copy of thee signed and dated tax return is all the proof needed. If you did not…
Can one get a refund for a 2016 tax return filed after April 15, 2020?
- May 27th, 2020
- David Greene
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That is a very timely question right now. Because of COVID-19 the answer is different than it would have been without the impact of the pandemic. Generally, you must file a tax return within three years of its due date…
How should one report non-cash contributions?
- May 19th, 2020
- David Greene
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Keeping proper records to support contributions claimed as a tax deduction can be tricky. If you claim cash contributions, you must have a receipt from the charitable group to whom you gave the contribution. Also, the gift must be to…
Should I file my 2019 return if I did not file last year?
- May 5th, 2020
- David Greene
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First, you should know that you now have until July 15 to file your 2019 return. No matter what else you do or don’t do, be sure to file your return on time. You should do this even if you…
If a student loan is discharged, is the discharged amount taxable?
- April 28th, 2020
- David Greene
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Not in all cases. The general rule is that, if a debt you owe is discharged, the amount discharged now becomes income to you because you do not have to pay back the debt. I.e., you received money and used…
Is the taxing of individuals by the IRS illegal?
- April 14th, 2020
- David Greene
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I get this kind of inquiry every couple of years. Over the course of my practice, I have represented several individuals who tried to take this stand with the IRS. None of them were successful and the few who did…
Does the July 15 extension apply to other types of tax payments?
- April 9th, 2020
- David Greene
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The extension to July 15 for filing and paying federal and state income taxes only applies to income taxes. As of the writing of this answer, this extension does not apply to filing and paying payroll taxes, making installment agreement…