updates
Does a corporation need an EIN number?
Corporations or Partnerships As noted above, if your business is a corporation or a partnership, you will need to apply for an EIN. You will need the EIN ...
Jul 25, 2026 • 1 READS
general
Can I use TurboTax home and business for rental property?
TurboTax Business will indeed handle income from rental properties. However, you need to indicate that you actually have rental real estate, which is typi...
Jul 25, 2026 • 1 READS
news
What happens when my company gets acquired?
When the company is bought, it usually has an increase in its share price. An investor can sell shares on the stock exchange for the current market price ...
Jul 25, 2026 • 1 READS
news
Where do I report charitable contributions on k1?
Individual (1040) Cash charitable contributions may be entered on the A screen, line 11. An entry can be made on the A screen > line 11 Qualified cash ...
Jul 25, 2026 • 1 READS
general
How to get a tax return from a deceased person?
You may also obtain verification of non-filing and certain income documents of the decedent from the IRS using IRS Form 4506-T, Request for Transcript of ...
Jul 25, 2026 • 1 READS
general
What do you need to know about the Form 1040?
Form 1040 for 2015 tax year. Form 1040 (officially, the U.S. Individual Income Tax Return) is one of three IRS tax forms (see variants section for explana...
Jul 25, 2026 • 1 READS
news
What do I do if my employer withholds too much Social Security tax?
Employer’s error – If any one employer withheld too much Social Security, Tier 1 RRTA tax, or Tier 2 RRTA tax, you can’t claim the excess as a credit agai...
Jul 25, 2026 • 1 READS
general
What does Distribution Code 8 mean on 1099-R?
Excess contributions plus earnings Code 8. According to the 2020 Instructions for Forms 1099-R and 5498, Code 8, Excess contributions plus earnings/excess...
Jul 25, 2026 • 1 READS
news
What is the problem with confirmation?
Even when people do get exposed to challenging information, confirmation bias can cause them to reject it and, perversely, become even more certain that t...
Jul 25, 2026 • 1 READS
news
How do I renew my ITIN 2021?
To renew an ITIN, a taxpayer must complete a Form W-7 and submit all required documentation. Taxpayers submitting a Form W-7 to renew their ITIN are not r...
Jul 25, 2026 • 1 READS
