FAQ

Find your answers here, if you feel like you need us, just contact us right away!

As a green card holder, you generally are required to file a U.S. income tax return and report worldwide income no matter where you live.However, if you surrender your green card or the U.S. Citizen & Immigration Service (USCIS) determines that you have abandoned your green card and takes it away from you, you will need to follow the nonresident alien requirements for filing a Form 1040-NR, U.S. Nonresident Alien Income Tax Return.

You can check the status of any refund you expect as soon as 24 hours after you e-file a return or 4 weeks after you file a paper return.

You can order copies of tax records including transcripts of past tax returns, tax account information, wage and income statements, and verification of non-filing letters.

Use Where’s My Refund, call us at 800-829-1954 and use the automated system, or speak with an agent by calling 800-829-1040. However, if you filed a married filing jointly return, you can’t initiate a trace using the automated systems. Download and complete the Form 3911, Taxpayer Statement Regarding Refund or the IRS can send you a Form 3911 to get the replacement process started.

To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test. To meet the qualifying child test, your child must be younger than you and either younger than 19 years old or be a “student” younger than 24 years old as of the end of the calendar year. There’s no age limit if your child is “permanently and totally disabled” or meets the qualifying relative test.

In general, you can deduct mortgage insurance premiums in the year paid. However, if you prepay the premiums for more than one year in advance, for each year of coverage you can deduct only the part of the premium payment that will apply to that year. Report the deduction on line 9 of Schedule E (Form 1040), supplemental income and loss.

You can correct the spelling when you file or by calling us toll-free at 800-829-1040. When you file, check that both your name and SSN agree with your social security card to prevent any delays in processing your return and issuing any refunds.

When you file your return, check that both your name and SSN agree with your social security card to prevent any delays in processing your return and issuing any refunds.

If you’ve already e-filed or mailed your return to the IRS or state taxing authority, you’ll need to complete an amended return.

Yes. If you need to amend your 2020, 2021 or 2022 Forms 1040 or 1040-SR you can now file Form 1040-X, Amended U.S. Individual Income Tax Return electronically using available tax software products.

The vehicle identification number is a 17-character number that uniquely identifies a vehicle. It is permanently attached to a vehicle in several locations, appearing on the dashboard for most passenger vehicles and on the label located on the driver’s door frame.

For purposes of the Earned Income Tax Credit, “earned income” generally means taxable wages, salaries, tips, and other taxable employee pay, and net earnings from self-employment

Payments can be made through an ACH debit from your checking or savings account or using your debit/credit card. You can choose either of these methods when you log into your online account and select Make a Payment. If you select “Pay by Card” (on an external website) you will be redirected to a different website.

Cryptocurrency is a type of virtual currency that uses cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain.

The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement.

When you use your car for business, your expenses for those drives are tax deductible. Make sure you keep detailed records of each trip’s date, mileage, and purpose, and don’t try to claim personal car trips as business car trips

You can deduct the cost of business supplies and materials that have been “consumed and used during the tax year.” This includes such mundane concerns as copy paper, postage, paper clips, and pens. The IRS also allows books, professional instruments, and equipment, as long as they are used within the year.

Yes, documented business meals are deductible—but within reason. Lavish meals that are perceived as entertainment can get your tax return flagged. Entertainment expenses have not been tax deductible since the 2017-2018 Tax Cuts and Jobs Act (TCJA). Normally, meals for business purposes are 50% deductible. However, Congress authorized a temporary increase of the deduction in the Consolidated Appropriations Act 2021 (CAA) to 100% for amounts paid or incurred between December 31, 2020, and January 1, 2023, for food and beverage provided by a restaurant. The modification is meant to help the sector revive their businesses post-pandemic.

If you’re self-employed and set up your business as a sole proprietorship, you should file Schedule C with your Form 1040 to report the profit or loss for your business.

Certain distributions commonly referred to as dividends actually should be reported as interest, including “dividends” on deposits or share accounts in cooperative banks, credit unions, domestic savings and loan associations, and mutual savings banks.

Generally, you cannot deduct job-related education expenses as an itemized deduction

If you file your return claiming your daughter as a dependent and don’t provide her social security number (SSN) on your return, the IRS will not allow you to claim her as a dependent.

You have two options:

  1. You may file your income tax return without claiming your daughter as a dependent. After you receive her SSN, you may then amend your return on Form 1040-X, Amended U.S. Individual Income Tax Return and claim your daughter as a dependent. Generally, you have three years after the date you filed your original return or two years after the date you paid the tax, whichever is later, to amend your return.
  2. The other option is to file a Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This option would give you an additional six months to file your return; by then you should have your daughter’s SSN.

 

No. Your parents cannot claim the deduction for student loan interest on their tax return because you were not their dependent at the time they took out a student loan for you. However, you can claim, subject to certain limitations, the deduction with respect to the loan that you took out for yourself (assuming that you meet the other requirements for this deduction).

You may need to make quarterly estimated tax payments

Filers can electronically file up to three amended returns. If you file a third amended return that is accepted, all subsequent attempts will be rejected.

The Where’s My Amended Return? online tool can be used to check the status of your return and confirm receipt.

Qualified expenses are amounts paid for tuition, fees and other related expense for an eligible student that are required for enrolment or attendance at an eligible educational institution. You must pay the expenses for an academic period that starts during the tax year or the first three months of the next tax year. Eligible expenses also include student activity fees you are required to pay to enroll or attend the school.

To be eligible for AOTC, the student must:

• Be pursuing a degree or other recognized education credential

• Be enrolled at least half time for at least one academic period* beginning in the tax year

• Not have finished the first four years of higher education at the beginning of the tax year

Beginning January 1, 2023, eligible vehicles may qualify for a tax credit of up to $7,500.

If you are self-employed or a contracted worker, you will receive a 1099-NEC (Nonemployee Compensation) from any business that pays you more than $600 in a year. You will need to report this income on Schedule C.

If you have a single-member LLC and have not elected to be treated as a corporation for tax purposes, you must file a Schedule C. It is essentially the same as a sole proprietor.

Schedule C is a place to report the revenue from your business, as well as all the types of expenses you incurred to run your business. Your business income minus your business expenses is your net profit (or loss). You report your net profit as income on Form 1040.

Any education expenses you want to deduct must be related to maintaining or improving your skills for your existing business. The cost of classes to prepare for a new line of work isn’t deductible.