Use security software and make sure it updates automatically; essential tools include virus/malware protection and a firewall. Visit IdentityTheft.gov for steps you should take right away to protect yourself and your financial accounts. There are steps you can take if your Social Security number or other personal information is compromised. ...
After completing her state tax return, she realized she actually only owed $2,500. In 2017, Maria’s state issued her a $500 refund on the amount of tax that was overpaid and sent her Form 1099-G to report the payment. If you have a tax return filing requirement, when it’s time to prepare your return, you’ll include the ...
Their excess amount is $275,000 less $250,000, or $25,000. Barney and Betty’s Additional Medicare Tax is 0.9% of $25,000, or $225. If you have self-employment income, you file form 8959 if the sum of your self-employment earnings and wages or the RRTA compensation you receive is more than the threshold amount for your filing status. ...
Therefore, Form 8949 is used to reflect information about transactions recorded on Form 1099-B, as well as those recorded on your own tax filings. Futures contracts may be eligible for special gain or loss recognition treatment under Internal Revenue Code Section 1256. Generally, these gains or losses are allocated 60% to long-term capital ...
Tax credits, particularly refundable tax credits, are valuable tools for low- and middle-income households. IRS Form 8917 and Form 8863 both deal with education expenses. According to IRS rules, you may be eligible to use Form 8917 if you, your spouse or a dependent claimed on your tax return was enrolled in a qualified educational ...
The second group needs to hang onto the receipts even longer, until they actually take a distribution from the HSA. Years or even decades from now, those receipts could keep you from paying extra taxes on HSA distributions. You must always file a Form 8889 in any year you or an employer contributes money to your HSA or you make withdrawals ...