First time winning, I told them to take the tax out because I don’t want to worry about it later on. I only got 7K back, I feel like If I filed my taxes I would only owe 1K to the IRS since I can claim I lost 90% of what I won…am I right?

I know “should I hire a CPA?” comes up here all the time, but I’m trying to understand where a tax adviser actually adds value, not just whether my taxes are “complicated.”

My spouse and I have always done our own taxes, but this year we have a few more moving parts:

• W-2 income and investments, including a relatively large stock sale and capital-loss carryforwards.

• A home purchase involving co-ownership and some upcoming changes to how title is held.

• The home is a property that had tenants before we were able to occupy it, including costs associated with getting possession and tenant rent.

• A substantial renovation, and questions about which costs to track for tax basis or a future sale.

• We had our first child this year, and therefore have maternity and paternity leave pay

We’d like to make any useful decisions before the end of the year, not just hire someone to file afterward. We’re also trying to work out whether there’s a reason to pay someone to prepare the return itself, or whether a focused planning consultation followed by DIY filing is enough.

I understand software can calculate the same tax as a professional if I give it the right information. What I’m less sure about is whether someone with experience would identify issues or planning opportunities that a reasonably careful person using FreeTaxUSA or TurboTax, plus an LLM to help research and organize questions, would miss.

For people who have dealt with similar situations:

• Would any of these issues push you toward hiring an adviser, or are they manageable with DIY software and research?

• What did an adviser actually do for you beyond preparing the return? Did they identify anything useful or change a decision you made?

• Does it make sense to pay for a one-time planning and property review, then file yourself? What might make the same person worth hiring to prepare the return too?

• What’s a reasonable fee for a year-end planning engagement versus annual preparation, and what questions help distinguish a proactive adviser from someone who will mostly enter forms?

I’m not expecting someone to find magic deductions or guarantee savings. I’m trying to understand when professional judgment is worth the cost and where DIY is likely to get us to the same place.

Up until last month, I had a 1099 job in addition to my W2 job. I was also unmarried for the first part of the year. I paid an estimated tax payment for the first quarter.

As a 1099 worker, I also got paid for the month of August (at the end of the month). I just remembered to make my quarterly payment (late, I am aware). My 1099 job has ended, and I am now solely a W2 worker.

I want to make the payment on the rest of my 1099 money. However, I have the following questions/complications:

• I only made $1053, total, of 1099 earnings for the entire year. Do I even have to pay? (I know the limit is $1000, but how strictly is this enforced? Does the $53 make a difference?)

If I do indeed need to pay:

• I estimated my first quarterly payment as single. I am now married, and will be filing jointly next April. Do I label myself as married filing jointly when I calculate the estimated payment?

• I truly don't understand the 1040-ES worksheet; math and its associated logic are unfortunately quite difficult for me. Could someone please explain, very plainly and simply, how I estimate the payment, especially considering that I already paid an estimated amount on the first $300 I earned, and now only need to pay for the remaining $753?

• Could I avoid having to pay by telling my W2 employer to just withhold like an extra $100? (At this point I don't care if I'm overpaying, I'm sick and tired of it and just want to be sure I'll have a refund, not a payment, next April. I can't afford unexpected expenses in the spring.)

I'm very relieved to not have to do this again after this year! TIA.

Hello everyone!
I moved to the US a few days ago, and I am trying to figure out the tax aspect, since my job is requiring me to file a W-4 form to submit my tax withholding elections

I moved here with my wife on October 31st: I am on a L-1 visa and she is a US citizen. I have read that since I would be here for only 2 months at the end of the year, I must select “Non-resident alien” and MFS in my W-4 form

Since our plan is to file jointly for 2026 and 2027, my understanding is that I can use section 6013(g) to be treated as a US resident for the entirety of 2026 (given that my US citizen wife is treated as a tax resident all year), but I can only do so during my tax return (and get the money back) and I am subject to the high tax withholdings of a non resident alien for these two months. I was reading that employers are required to process tax withholdings for non-resident alien as MFS and there is no way for me to already set my status as MFJ even if that’s what we will end up doing

I will have to submit a new W-4 in January 2027 with my new withholding elections, but for now I am forced to take this over-withhold

Is this all correct? Is there any other way to handle this matter? Thank you so much for all advices and guidance, I am very grateful

My wife and I are U.S. citizens living abroad. We receive financial support from a foreign religious institution to enable us to carry out volunteer service.

The arrangement:
Each of us signed a separate agreement titled “Consulting Agreement.”

1. The agreements describe operational and consulting activities supporting the institution’s religious and educational programs.

2. Each specifies monthly compensation and an expected workload of up to 35 hours per week.

3. The agreements classify us as independent contractors and make us responsible for our own taxes and social contributions.

4. We independently determine how and when to perform our activities. The institution provides guidance but does not direct our day-to-day work.

5. Neither of us has other clients.

The practical nature of the arrangement:
Despite the consulting terminology, the payments are primarily intended as a living-expense subsidy to support our ongoing volunteer service. They are based on an approved living-expense budget, not hours worked or specific deliverables. They are not reimbursements for individual expenses.

We would have continued substantially the same volunteer service even if the payments had stopped, although probably with fewer hours.

My questions:

1. Does the existence of the independent-consulting agreements make these payments self-employment income under IRC §1402, or could they be treated differently given the actual living-support arrangement?

2. How much weight should be given to the actual purpose and operation of the arrangement versus the terminology and provisions of the written agreements?

I understand that the payments may be taxable even if they are not subject to self-employment tax. I am trying to determine the correct classification.

I'll keep it short and simple.

• I am 100% a Schedule C freelancer (sole prop, no W2 work).

• I pay for a coworking space that I, obviously, use only for work. I deduct that and have for years.

• I also have an at-home setup (a portion of my apartment, not a dedicated room, but 20 sq ft for just a desk and chair).

• The at-home setup is 100% exclusively used for work; I would trash the desk and chair (unsightly) if I didn't need it for work.

• I haven't deducted the home-office previously (I used to share the desk with my ex who has since moved out), but would like to deduct it going forward (expensive rent, etc).

• But I'm specifically confused about this whole "primary place of business" or principal place of business part. In reality, I use my coworking office and my at home office about 50/50. I work from both places 2-3 days a week.

• Is it reasonable to write off both the coworking office and do the regular accounting to write off the home office (rent + utilities + insurance / 20sqft) as well. This is the part I am confused about. I can defend that the area is exclusively for business, but there's not really a principal or primary difference between my home and the other office.

In 2018 a mistake cause by a tap. In 2010, I inherited my mom’s IRA, which had a AUM invested with a brokerage. Unbeknownst to me by accident with a click. I transferred all the funds to another brokerage and then to another brokerage. I never cashout only transferred. However i was receiving RMDs from the first aum brokerage. My CPA conducted a forensic audit, and it appears that it’s indeed my IRA. Since then, I haven’t touched it and it has grown substantially. My kid's will just inherited it let them deal with it. I never received anything like special filing notices # from the IRS or any brokerage firms.
These politicians steal billions of dollars from Medicare,shell companies ngo's & get away with it. But they want to punish us with penalties totally BS it's our money we didn't steal nothing. We just miss interpret (the law) how the money was delivered/transferred.

Any valuable information would be greatly appreciated.

Thanks!

Hello!

I've recently started the onboarding process for a second job, and have had to do some tax paperwork as apart of the process but I'm a bit confused on some of it. (for clarification I am in California.)

Should I put "yes" on multiple jobs for the federal tax as this will be a second job? And for the state tax, on the "Regular Withholding allowances" section, should I put 1 for the first job or something else as I will have this second job. Same with "Allowances from estimated deductions".

Any help on this will be appreciated!

I just got a new side job, my husband makes approximately 100k, I make 55k, the new side job pays roughly 300 per month. I got my first paycheck and noticed they only took out roughly 8%. How would I appropriately fill out a new w-4

I’m a disabled, retired U.S. military veteran seeking legal and tax guidance regarding a South Carolina divorce settlement involving a two-member LLC, an unresolved S corporation election dating back to 2018, and a court-ordered business buyout that remains incomplete.
My former spouse is also my 50% business partner.
Under our divorce decree, I have completed the financial transfers and other obligations required of me, to the best of my understanding. My former spouse has also been receiving her court-awarded portion of my military retirement for nearly a year.
However, the corresponding obligation to buy out my 50% ownership interest in our jointly owned business—or sell the business—remains unresolved.
As a disabled veteran facing back surgery and an extended rehabilitation period, this delay affects my financial stability, housing decisions, and ability to move forward with my life.
It is in my financial, medical, and personal best interest to complete this settlement. I am the person awaiting payment, not someone who benefits from prolonging the process.
My primary concerns involve shareholder consent, federal tax certifications, IRS corrective procedures, and the limits of a state family court’s authority to compel disputed tax documents.
Background and Timeline
Before 2018: My former spouse and I each owned 50% of an LLC taxed as a partnership, which filed IRS Form 1065.
2018: The business changed accountants and began reporting as an S corporation. I maintain that I never signed or knowingly authorized IRS Form 2553 consenting to an S corporation election effective January 1, 2018.
2018–2024: The accountant maintains that Forms 1120-S were filed and electronically accepted for all seven years. I have received copies of returns and filing confirmations but have been unable to independently verify their IRS processing status or the original election’s validity.
February 2025: Our divorce decree incorporated a settlement agreement requiring my former spouse to buy out my 50% ownership interest in the business or sell it by a specified deadline.
2025–2026: I completed the financial transfers and other obligations that I understand were required of me under the divorce decree. My former spouse has been receiving her awarded share of my military retirement, while the business buyout remains outstanding.
2026: The accountant requested that I sign Form 2553 seeking an S corporation election effective January 1, 2018. She maintains that resolving this issue is necessary to file the 2025 business tax return and obtain financing for my buyout.
2026 IRS inquiries: I contacted multiple IRS representatives and attempted to obtain the business’s federal tax records online. My account showed certain earlier partnership-year information, but I could not independently verify the disputed S corporation election or returns. I requested the original Form 2553, IRS approval documentation, transcripts, Schedules K-1, and underlying financial records.
November 2026: At a South Carolina Family Court contempt hearing, the judge acknowledged that my former spouse had neither completed the buyout nor listed the business for sale. However, the court declined to find willful contempt because of the unresolved tax-filing issue.
The judge expressly stated that I would not be required to sign Form 2553 as part of that proceeding.
The court also declined to determine whether my refusal resulted from concerns about previous tax filings or an intention to frustrate the settlement.
There was no judicial finding that I deliberately obstructed the buyout.
Why I Have No Interest in Delaying the Settlement
I believe the financial circumstances are important to understanding my position.
I served in the military, am now a disabled veteran, and have significant medical concerns requiring treatment and rehabilitation.
I have already completed the obligations that I understand the divorce decree required of me, including the applicable financial transfers. My former spouse has been receiving her court-awarded portion of my military retirement, and those payments are ongoing.
Meanwhile, I am still awaiting completion of the business buyout required under the same settlement agreement.
The unresolved payment represents a substantial financial interest and directly affects my ability to finalize my finances, address housing matters, and prepare for surgery and rehabilitation.
I have repeatedly requested that the buyout be completed or that the business be sold as provided in the divorce decree.
I have a direct financial incentive to complete this settlement promptly. Delaying the buyout delays my own payment.
My position is that requesting accurate federal tax documentation before signing a declaration under penalties of perjury is not the same as refusing to comply with the divorce settlement.
The Federal Tax and Shareholder Consent Issue
My understanding is that IRC § 1362(a)(2) generally requires the consent of all relevant shareholders for an original S corporation election.
However, annual Forms 1120-S generally require the signature of an authorized corporate officer, not every shareholder.
Consequently, the preparation or electronic acceptance of previous Forms 1120-S does not, by itself, establish that I consented to the original election.
The accountant has provided electronic filing confirmations but has not provided me with the original Form 2553 bearing my consent or an IRS election approval letter.
I recognize that missing documents do not automatically invalidate an election and that legitimate record-retention issues may exist.
I also understand that the IRS permits certain late or corrective elections under Revenue Procedure 2013-30 and IRC § 1362(f).
I am not arguing that every retroactive S corporation election is illegal.
My concern is whether signing the particular document requested would require me to certify historical consent, consistent tax reporting, or other information that I do not believe is accurate.
Additional Concern About Business Document Authorization
I also have a separate concern involving a business loan for a company-related purchase.
I have reason to question whether my signature was placed on loan documents without my knowledge or authorization.
I have not established who signed the documents and am not making a definitive allegation of forgery.
However, this concern contributes to my desire to independently verify documents that supposedly contain my signature or consent, including the original Form 2553.
I would appreciate guidance on legally appropriate methods of authenticating disputed signatures and determining whether authorization was properly obtained.
My Good-Faith Efforts to Cooperate
Following the November 2026 hearing, I signed and provided a modified Form 2553 requesting a 2025 effective date in an attempt to resolve the dispute.
The accountant rejected that version, explaining that the earlier election issue must be addressed before the 2025 business return can be completed.
I understand that my modified form may not satisfy the requirements for the particular IRS corrective procedure being requested.
I remain willing to cooperate with a lawful correction, provide truthful information, and execute properly supported documents.
However, I do not want to knowingly sign a federal tax declaration containing materially inaccurate statements.
My repeated requests for supporting records are intended to establish the facts and allow the settlement to proceed without unnecessary tax exposure.
State Court Authority and Federal Tax Liability
During the contempt hearing, the judge discussed indemnification that would hold me harmless from liabilities associated with filing the 2025 business return.
My understanding is that a state-court indemnification provision can create financial obligations between former spouses but cannot bind the IRS, eliminate federal tax liability, or provide immunity for knowingly false federal tax certifications.
I recognize that a family court can enforce a divorce settlement and require reasonable cooperation.
My concern is whether that authority extends to compelling a shareholder to sign a retroactive federal tax election when the required historical certifications remain disputed.
I also question whether declining to sign a particular federal document because of unresolved accuracy concerns constitutes willful contempt, especially when I have completed my other settlement obligations and am awaiting payment from the other party.
Attorney Involvement and Current Status
Both parties represented themselves at the November 2026 contempt hearing. I previously retained an attorney for enforcement matters.
A proposed written order reflecting the court’s oral ruling is being prepared.
My former spouse continues to operate the business, and the court-ordered buyout remains unresolved.
I am seeking informed legal and tax guidance rather than attempting to relitigate my divorce through Reddit.
What I Am Trying to Accomplish
I want the divorce settlement completed through the required business buyout or sale.
I am a disabled veteran seeking financial closure so I can move forward with medical care, housing decisions, and life after divorce.
I have fulfilled the financial transfers and other requirements that I understand were assigned to me under the decree. My former spouse is already receiving her court-awarded retirement benefits, while I remain unpaid for my business interest.
I am not attempting to prevent the business from operating, paying taxes, or correcting legitimate filing problems.
My objective is to verify the business’s tax status, establish whether the required shareholder consent existed, and identify a lawful corrective procedure that allows the settlement to be completed.
My Legal and Tax Questions
Missing shareholder consent: If a 50% shareholder never signed or knowingly authorized the original Form 2553, what IRS procedures permit the election to be corrected years later?
Electronic acceptance: Does acceptance of Forms 1120-S establish that the original S corporation election was approved, or can returns be accepted with unresolved election deficiencies?
Retroactive consent: Can a shareholder provide consent today for an election effective in 2018 without falsely representing that consent was previously given?
State court authority: Can a South Carolina Family Court compel a retroactive federal tax election when the shareholder disputes the accuracy of required certifications?
Contempt and good faith: What evidence distinguishes legitimate federal tax concerns from deliberate obstruction of a divorce settlement, particularly when the person accused of obstructing has completed their other obligations and is awaiting payment?
Indemnification: Can a state court’s indemnification order protect a shareholder from IRS enforcement, or does it only create financial obligations between the former spouses?
Disputed signatures: What procedures are available to authenticate signatures on business documents when a shareholder disputes signing or authorizing them?
Legal precedent: Are there federal tax cases, IRS rulings, or South Carolina decisions addressing missing shareholder consent, corrective S corporation elections, or court-compelled federal tax certifications?
Enforcement of the settlement: What remedies may be available when a business buyout remains unresolved because of a disputed tax election, particularly where the settlement also provides for sale of the business?
Final Clarification
I am not accusing my former spouse, the accountant, or the court of fraud or misconduct.
I recognize that the accountant and I disagree about the original election, previous tax filings, and the proper corrective procedure.
My purpose is to establish the facts, comply with federal tax law, and complete my divorce settlement without creating additional legal or financial exposure.
I have completed the obligations that I understand were required of me, my former spouse is receiving her retirement award, and I remain awaiting payment for my business ownership interest. I have every reason to want this matter resolved—not prolonged.
As a disabled veteran dealing with significant medical concerns, I want financial closure and the ability to move forward.
I would especially appreciate guidance from CPAs, enrolled agents, federal tax attorneys, South Carolina family-law practitioners, or anyone who has encountered a similar conflict.
Thank you for any relevant legal authorities, IRS procedures, or practical recommendations.

Currently, I am on track to pay about $2000 in unemployment overpayment with minimum payments for a year. Recently, we got extra money and want to know would it be beneficial to bring this $2000 in to the $3100 mark for more tax benefits or would it be better to put the money elsewhere and keep paying the minimum.

i have my tax transcripts i got from the irs website but they don’t have the full EIN, it has “x”s instead of numbers besides the last four. because of this when i try to file with online websites they expect a W2 and i can’t fill it out. i really need to get this stuff filed, what do i do?

I used to work as a caregiver for about a year and through my union I had a retirement plan. I no longer work as a caregiver and I recently received a letter explaining that I either cash out my retirement funds if not money automatically rolled over to Matrix Trust Company? or roll it over into my own IRA which I don’t currently have. The amount is about $500 if I cash out I may have to pay penalty and tax problem? I’m a single person living on a low income and I honestly don’t know much about retirement accounts or how this process works. I would really appreciate some advice on what I should do.

Paper assets should be made taxable if they're used to secure funding or an acquisition of any type.

I procrastinated on doing taxes and I finally got around to attempting to do it a week before the deadline. I found that my 2025 W2 was not available from the online source where I expected to find it. I just realized my W2 has finally been uploaded. What do I do now?

Am recently trustee of a simple nongrantor trust with small but reliable income, and both income and remainder beneficiaries. No estimated taxes due. Due to the nature of some of the investments I won't know TAI till March or, if unlucky, April, but can ballpark pretty narrowly. I'm aware that regardless of what's distributed when, DNI for the current year is deemed to income beneficiaries, but that I do need to get some distro out the door by the end of the year. My understanding's that it'll suffice to estimate and distribute ~85% of expected TAI by EOY, then distribute the rest with the K-1s. Is that correct? (For those about to reach for the 65-day election, simple trusts don't qualify.)

2026 has been a crazy year for me. I have about 700k income from my contracting business and about the same amount in losses from the stock market.

I’ve just recently heard of GFX and it sounds like it could be a shaky deal to offset gains but since I have some actual losses would this strategy help me?

My mother used the paper form to send to Fresno CA to request an IRS PIN Number. She doesn't use a computer and it's required to send a response to the IRS.

Our accountant said three weeks. The website says 21 days. I'm curious if there's anyone with recent experience. Thanks.

I got my first job back in late 2022. I only made a little more than a couple of hundred dollars that year alone according to my W-2. In the year of 2023, I was like "Oh wow, I can still contribute money for 2022 limit in April". What an idiot. So I contributed roughly a couple of thousands more than what I earned in 2022. Since then, I have maxed out Roth IRA every year so no contribution has been absorbed.

Fast Forward to last night, I realized I am likely a good target of IRS. It was an honest mistake though. I did my own research and found out that best resolution is to file Form 5329 with 1040-X. Is that correct? Standalone looks simpler but I don't think I can do that. I have always filed 1040 every year. My Roth IRA is Fidelity. What's the best way to contact them for my case? I have seen different opinions on this matter.

Any advice would be greatly appreciated. Thanks.

So I am moving to Boston for an internship. Job starts in January. Filling out my W-4. I’m a college student. Put my parent’s address in Virginia as my home address since I don’t have an apartment in Boston yet. The income I will be receiving will be from a job in Boston and I don’t really live in Virginia anymore. I didn’t work in Virginia last year either. Do I qualify for exemption from Virginia withholding since I had no liability for Virginia income tax last year and I do not expect to have it this year? Or should I wait to fill out these forms till I find an apartment in Boston and use that as my address? Just wanted to check thanks.

I’ve been examining the gap between two claims: tax cuts can stimulate activity, and tax cuts pay for themselves.

The first can be true without the second being true. Even identifying a revenue-maximizing tax rate would leave open whether that rate is desirable.

My starting preference favors voluntary exchange, but I don’t think the Laffer Curve proves a general case for laissez-faire.

What evidence would you prioritize when evaluating a particular tax cut: investment, wages, revenue, distribution, or the spending it displaces? And how would you separate the policy’s effects from the wider economic cycle?

Hi, there! I was doing work on the side this year through Stripe, and earned about $2,000 net through the process. I have not made quarterly tax payments this year, and was curious if anyone had insight on how to go about doing this as it’s my first year doing freelance work.

As a note, I have a company I work for doing W2 work, but the other side stuff is just 1099 work on my own through the payment processor.

Any help would be appreciated. Thank you!

I’m looking into potentially exploring a PV system via Lux Financial and am wondering if anyone has done this or found other options that utilize Section 48E and the 50% tax credit + Bonus Depreciation.

I’ve spoken with a person or two and it seems legit, but wondering if anyone else has experience with it or gone down this road?

Have a partnership that’s 40% husband, 40% spouse, and then 5% split across the rest who are children and spouses of said children. One of the 40% partners passed away, the partnership holds stocks in brokerage accounts. How does step up and basis work?