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Contributed and Quit
Today TaxMama® hears from Sergey in the TaxQuips Forum, with this problem. “I started a new job with a 401k plan this year; but I had to quit after a few months. I accumulated some money in my 401k...
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Payroll Deposits
Today TaxMama® hears from Donna in the TaxQuips Forum with this running argument. “Our debate concerns a client whose payroll taxes for the current and previous quarters well exceeded $2,500. The...
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It Never Hurts to Ask
Today TaxMama® hears from Sue, who overcame a big problem. To make a long story short, Sue suddenly discovered, purely by accident, that she’d only been paying one of the two taxes required by her...
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Partnership Penalties
Today TaxMama® hears from Lara in the TaxQuips Forum who is helping get a partnership out of trouble. As it happens, this seems to be the week for questions from tax pros about the penalties IRS...
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Relief Available To Many Extension Requesters Claiming Tax Benefits
WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of...
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Extra IRS Taxes Plus
Today TaxMama® hears from Wayne in the TaxQuips Forum, with this question. “I received a notice from the IRS that my 2011 tax return did not include a withdrawal from my 401k. So I had to pay...
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IRAs and Unemployment
Today TaxMama® hears from Stevenson in the TaxQuips Forum, with this question. “If you are unemployed, can the penalty to withdraw money from your IRA be waived when filing taxes? However, the taxes...
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Early Withdrawal
Today TaxMama® hears from Nic in the TaxQuips Forum, with this common misconception. “Nic is disabled and withdrew his money from his retirement plan. Now he’s trying to figure out how to avoid paying...
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Reasonable Care and RMD
Today TaxMama® hears from Sonia in the TaxQuips Forum, who has this quickie question. “I contacted the custodian of my IRA AT 3 PM on 12/31 to request a required minimum distribution (RMD). The...
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October 15th is NOT the filing deadline for Everyone
October 15th is the annual filing deadline for all personal income tax returns. This year, some (un)lucky folks in several disaster areas around the country have extra time to file – as long as they...
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