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I would follow the literal instructions from the form itself: Enter the total taxable annual pay from all jobs, *plus* any income entered on Form W-4, Step 4(a), for the jobs *less* the deductions entered on Form W-4, Step 4(b), for the jobs So you'd need to have a copy of your old W-4 to see what those Step 4a and 4b numbers are. And if it's been a while since you updated your Form W-4, you may want to do that first. IRS Form W-4, Employee’s Withholding Certificate Article: www.teachmepersonalfinance.com/irs-form-w-4-instructions/ Video: th-cam.com/video/a7qxsGYLtkU/w-d-xo.html

Possibly. You can only request 1 type of tax form per Form 4506-T. I would recommend that you clearly define the type of tax information that you need, then complete your request based on that.

According to the form instructions, it may take up to 75 calendar days for the IRS to process your request. There's not really a way to track it, that I know of. However, you can also get tax information by setting up and checking your online IRS account. That might be a faster way of obtaining specific tax information.

I wouldn't know what to enter here without knowing her tax bracket. You can probably select 10%, but what I would consider is looking at her current tax picture, which would allow you to select a tax withholding with more precision. Generally, I tell people that you can do this in one of two ways: 1. Use the worksheet located in IRS Form 1040-ES IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html 2. Use the IRS tax estimator tool from the IRS website. How to use the IRS Tax Estimator Tool Video: th-cam.com/video/zXA4ut_OTzU/w-d-xo.html Once you determine whether your mother is on track, you can figure out how much tax withholding (in dollars), and convert that number into a percentage on Line 2.

Thanks you appreciate the help, stay blessed 🙏🏽👍🏽

If you're requesting personal tax information, such as your Form 1040, then you would use your SSN. If you're requesting copies of your business tax returns, then you would use your EIN. The instructions do not refer to using a DUNS number in any situation.

You probably could use your adoptive parent info, but I would verify with the SSA before submitting the form. Generally, a best practice would be to set up an appointment at the local office, then go over the form and supporting documentation in person to make sure everything's in order.

If you have a job, then you would enter the job income, in Line 2b(i). You can always make adjustments if you feel the tax withholding isn't correct. To determine whether you're on track, I would recommend one of the following options: 1. Use the IRS tax estimator from the IRS website (video link below) How to use the IRS Tax Estimator Tool Video: th-cam.com/video/zXA4ut_OTzU/w-d-xo.html 2. Use the worksheet for IRS Form 1040-ES: IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html

If your child is the overpaid person, then you should fill it out with your child's information. However, as the parent, you're supposed to sign on your child's behalf. If you (or your child) is receiving SSI, then the Social Security Administration has the authority to automatically waive recovery of the overpayment if the overpayment was not your fault or your child's fault. In other words, they don't need additional information--they just need to verify that you didn't do anything wrong.

@@teachmepersonalfinance2169 Thank you so much... greatly appreciated! I made sure to subscribe since your channel is the most helpful! Have a blessed rest of the year!

I'll try to write an article in the near future, but probably won't be able to before next week. Do you have a specific question?

You can find a copy of the worksheet in the IRS Form 1040 instructions, on Page 32. You may need to use Adobe Acrobat and adjust some settings for the fields to be accessible, but I created a workaround for this video. Most tax software also does the calculation for you automatically.

Yes. According to the form instructions: If you are a resident alien and you do not have, and are not eligible to get, an SSN, your TIN is your IRS ITIN.

It might be, but that's not how I would address this notice. If I were in your position, I would carefully read the notice to make sure that I understand *exactly* what the IRS is requesting. Then I would be sure to include everything that was requested (erring on the side of overkill). I would avoid making any assumptions about whether or not to include a piece of documentation (if in doubt, I'd include it).

According to the form instructions, you should only list your P.O. Box address *if your post office does not deliver mail to your street address.*

You would deduct your interest expense where you would normally do so, depending on the nature of the interest and what type of business or investment income is associated. Most likely, this would be interest deducted on Schedule E or Schedule C (see below links). The primary thing about Form 8990 is that it serves as a limitation on the amount of interest you can deduct in the current year. Any interest that's disallowed in the current year must be carried forward to future tax years. IRS Schedule C, Profit or Loss from Business Article: www.teachmepersonalfinance.com/irs-schedule-c-instructions/ Video: th-cam.com/video/T3KYF24chIg/w-d-xo.html IRS Schedule E, Supplemental Income Article: www.teachmepersonalfinance.com/irs-schedule-e-instructions/ Video: th-cam.com/video/mHH-0QuB3EU/w-d-xo.html

@@teachmepersonalfinance2169 thank you so much. In my specific case, I made the mistake of buying some shares of SUN stock without realizing it's a PTP....so my question is arising because on line 13 of the PTP's K-1, code K is EXCESS BUSINESS INTEREST EXPENSE and I need to do 8990 as you said to determine how much of it I can write off...so given that it's from line 13K of a PTP's K-1, where on my general taxes would I write off whatever is allowed from the 8990?

@@MehrdadSarlak Without knowing more about your tax situation, I would probably guess that Schedule E would be the place I'd look into first. But I'd also recommend sitting down with a tax professional to go through your tax situation so you can make the right decision.

I believe that the information should be that of the overpaid person. As the representative payee, you can sign the form itself. However, there is an authorization for the SSA to request bank records as they process the request. You cannot sign this authorization form. Only the person or a legal guardian can do so.

There really isn't any guidance on this question. If I were in this situation, I'd probably consider using the employee's foreign address as the Line 4b item. If the IRS has a problem with this, you can explain the distinction, and they can correct you if this has a substantial impact (which I don't really see one).

The sale of goodwill falls under Section 197 intangibles. As part of your asset or business sale, you and your buyer would need to determine how to allocate the costs associated with the purchase. You would then (each) report how you divvy up the costs into various classes (goodwill is considered Class VII) on IRS Form 8594 (see below links) IRS Form 8594, Asset Acquisition Statement Article: www.teachmepersonalfinance.com/irs-form-8594-instructions/ Video: th-cam.com/video/G0f0r8tYMnk/w-d-xo.html You would report the actual sale on either IRS Form 4797 or IRS Form 8949 (see below links), which should then flow to your Schedule D (see below) IRS Form 8949, Sales and Dispositions of Capital Assets Article: www.teachmepersonalfinance.com/irs-form-8949-instructions/ Video: th-cam.com/video/O5P_L9zdXME/w-d-xo.html IRS Schedule D, Capital Gains and Losses Article: www.teachmepersonalfinance.com/irs-schedule-d-instructions/ Video: th-cam.com/video/wpPXe8z40lY/w-d-xo.html Playlist: th-cam.com/play/PLYHzJrFFCrpx8fntib5MeAQ7xMEfvPVHZ.html

I don't think there's another way to correct this information, without filing IRS Form 1040-X, but I think it should be relatively straightforward. Regarding your other comment (inverted numbers on her tax return), I believe that you'd have to double-check your daughter's tax transcript to see what's actually in her tax record. You can do this through the IRS website (if you have, or can establish an IRS online account), or by filing IRS Form 4506-T (see links below). My guess is that if the information appears in her transcript as you reported it on her tax return the past couple years, then the IRS may have corrected the transposed numbers. If your daughter's record *does not* reflect your prior tax returns, then you may need to take further steps to correct that situation. Otherwise, the IRS may eventually contact your daughter to determine what happened to her tax return for those two years.

I did and they is no fileing the last two years for her correct SS# Thanks

I think the Form 3368 is the disability report, while Form SSA-16 is the disability application. Generally, you need the disability report to accompany the application. I couldn't find any reference stating why there are different forms, but it appears that the general guidance is to submit them together so the SSA can properly develop a disability claim.

​@teachmepersonalfinance2169 Thank you for the response. It was greatly appreciated. I handed in both forms today.

I'm not 100% sure because the IRS wrote these instructions. But reading IRS Publication 915, I believe this is along the lines of an explanation: There are 2 50% calculations at work here. 1. Determining *whether* some of your Social Security benefits are taxable, you use 50% of your benefits *plus* all other income: From IRS Publication 915: To find out whether any of your benefits shown on Forms SSA-1099 and RRB-1099 may be taxable, compare the base amount (explained later) for your filing status with the total of: 1. One-half of your benefits; plus 2. All your other income, including tax-exempt interest. This is the calculation from Line 2. 2. If you determine on Line 9 that your Social Security benefits are partially taxable, then there is a phase out calculation to determine *how much of your benefits are taxable.* Meaning whether 50% of your benefits are taxable or 85% are taxable. That's the calculation that takes place between Lines 11 through 18. Perhaps there's a different way to create this spreadsheet to arrive at the appropriate outcome. However, I believe this is how the IRS decided to approach it.

@@teachmepersonalfinance2169 Hi, thank you for your time and the detailed explanation. It's much appreciated. God bless, Sonja

It really depends on the type of income you're reporting. Part V is for the following: • Passive trade or business activities, • Passive rental real estate activities that don’t qualify for the special allowance, and • Rental activities other than rental real estate activities

If you filed a change of address related to employment tax returns, you might receive IRS Notice CP148A (old address), and IRS Notice CP148B (new address). But you might not always receive a notification. You should check back with the IRS after about 6 weeks (IRS website states 4-6 weeks for processing). You should also be able to verify that this address change reflects the proper EIN.

That's the tax based on the 2024 tax rate schedules. It is less than 12% of the overall AGI because the first $10,600 is taxed at a 10% tax rate, not 12%.

I'd have to know more about your DCP to give specific information. For example, nonqualified plans are treated differently from qualified plans. Generally, Below is a link to an IRS page with more information on tax withholding situations involving DCPs. www.irs.gov/individuals/international-taxpayers/pensions-and-annuity-withholding Also, FICA withholding may apply to some contributions, but not others. I would doublecheck this. Here is an IRS reference: www.irs.gov/retirement-plans/retirement-plan-faqs-regarding-contributions-are-retirement-plan-contributions-subject-to-withholding-for-fica-medicare-or-federal-income-tax You can use IRS Form 843 to request the adjustment, but only if the employer will not do so for you (you must ask first). IRS Form 843, Claim for Refund and Request for Abatement Article: www.teachmepersonalfinance.com/irs-form-843-instructions/ Video: th-cam.com/video/beGwgBS1YYI/w-d-xo.html

The CUSIP number should be associated with your fixed income instrument. You might have to check with the financial institution to find the CUSIP for a specific bond or CD.

I'm not sure that I've seen a situation like this before. You should probably call the IRS to see what penalties they've applied, and to learn more about your account. Here are some questions that I would want to know: 1. How much of this is penalties? Generally, with unpaid taxes, there is a combination of interest and penalties added to the outstanding balance. While you can't really remove interest, you can request a penalty abatement with IRS Form 843 (see below), which I would recommend filing: IRS Form 843, Claim for Refund and Request for Abatement Article: www.teachmepersonalfinance.com/irs-form-843-instructions/ Video: th-cam.com/video/beGwgBS1YYI/w-d-xo.html 2. What is your current account situation? You can log into your IRS online account and pull up your balance for all tax years. Or you can file IRS Form 4506-T to request a tax transcript (see below): IRS Form 4506-T, Request for Transcript of Tax Return Article: www.teachmepersonalfinance.com/irs-form-4506-t-instructions/ Video: th-cam.com/video/szu6_cH5QpY/w-d-xo.html 3. What correspondence has the IRS sent you in the past? You might be able to find this in your online tax account, or you can call the IRS to figure this out. You might also be able to request assistance from the taxpayer advocate service. You can do this online, or by filing IRS Form 911 (see below): IRS Form 911, Request for Taxpayer Advocate Service Assistance Article: www.teachmepersonalfinance.com/irs-form-911-instructions/ Video: th-cam.com/video/EE80js7DWV0/w-d-xo.html

@@teachmepersonalfinance2169 ok will do, thank you. And the CP60 form I got says they misapplied $89 we paid and now we owe that, plus over $6,500 in interest. Everything I’m seeing is that they don’t/can’t remove interest and that’s an insane number. We’ve always paid what we were supposed to pay. And they say it’s due middle of October. I’ll call, but my layman’s logic is that we made no mistake. They did. We’ve always paid them what they said to pay them.

If you're overpaid in taxes for the year, then I wouldn't spend too much time trying to fix them. You can submit a Form W-4P with no withholding by writing “No Withholding” on Form W-4P in the space below Step 4(c). Then, complete Steps 1a, 1b, and 5. I would be sure to re-evaluate all of your tax withholdings for 2025 with updated income figures. If you have multiple W-4P forms, then I would pay particular attention to how I'd complete Step 2 for the highest paying pensions. And I would be sure to re-evaluate the tax withholdings using the IRS website or the Form 1040-ES worksheet, probably in the February/March timeframe.

I'm sorry that you're in this situation, and I'm sorry that your tax preparer did this to you. Every single tax preparer knows that this is illegal, and this clearly does not look like it was an accident. The first thing that I would recommend is to file IRS Form 14157-A, Tax Return Preparer Fraud or Misconduct Affidavit, where you can specifically report, "A Tax Return Preparer had my refund or a portion of my refund direct deposited into an account that was not mine." You would also need to file IRS Form 14157, Return Preparer Complaint. When filing IRS Form 14157-A, these two go hand in hand (see links to articles and videos below). IRS Form 14157, Return Preparer Complaint Article: www.teachmepersonalfinance.com/irs-form-14157-instructions/ Video: th-cam.com/video/vcneFsES9Ls/w-d-xo.html IRS Form 14157-A, Tax Preparer Fraud or Misconduct Article: www.teachmepersonalfinance.com/irs-form-14157-a-instructions/ Video: th-cam.com/video/qq5TRp4Gj0A/w-d-xo.html I would also recommend filing a report with your local police department. This is a crime, and should be reported to your law enforcement agency. Below is a page from the IRS website with a list of other recommended actions: www.taxpayeradvocate.irs.gov/get-help/filing-returns/tax-return-preparer-fraud/

I'm sorry that you're in this situation, and I'm sorry that your tax preparer did this to you. Every single tax preparer knows that this is illegal, and this clearly does not look like it was an accident. The first thing that I would recommend is to file IRS Form 14157-A, Tax Return Preparer Fraud or Misconduct Affidavit, where you can specifically report, "A Tax Return Preparer had my refund or a portion of my refund direct deposited into an account that was not mine." You would also need to file IRS Form 14157, Return Preparer Complaint. When filing IRS Form 14157-A, these two go hand in hand (see links to articles and videos below). IRS Form 14157, Return Preparer Complaint Article: www.teachmepersonalfinance.com/irs-form-14157-instructions/ Video: th-cam.com/video/vcneFsES9Ls/w-d-xo.html IRS Form 14157-A, Tax Preparer Fraud or Misconduct Article: www.teachmepersonalfinance.com/irs-form-14157-a-instructions/ Video: th-cam.com/video/qq5TRp4Gj0A/w-d-xo.html I would also recommend filing a report with your local police department. This is a crime, and should be reported to your law enforcement agency. Below is a page from the IRS website with a list of other recommended actions: www.taxpayeradvocate.irs.gov/get-help/filing-returns/tax-return-preparer-fraud/

That's a good question. You wouldn't automatically know, but you probably would recognize the debt situation where IRS Form 1099-C would be warranted. In this situation, you can assume that the creditor *should* have sent you the form, but did not. The below page is from the IRS website, that helps understand the steps you should take if your Form 1099 is missing. Form 1099-C isn't specifically mentioned here, but similar guidelines probably apply. www.irs.gov/newsroom/what-to-do-when-a-w-2-or-form-1099-is-missing-or-incorrect

Generally, I recommend that people estimate their taxes for the year, based upon what their earnings have been to this point. Below are some resources that will walk you through a couple of ways to do this: How to use the IRS tax withholding estimator tool: th-cam.com/video/zXA4ut_OTzU/w-d-xo.html IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html You can use either of these methods to determine whether you're on track or not. From there, you can better understand whether you need to increase withholdings your W-4P (step 4c). I would suggest either this or simply not entering any information on the form, then submitting it. Once you start seeing tax deductions from your pension/annuity payments, you can re-run the tax estimators (as done above), then determine if you're on track. You should plan to rerun your tax projection for the entire year in the year after you retire. You might end up needing to recomplete Form W-4P for the following tax year.

I already filed withholding on my social security either W4V - given that do I need to include my social security income here ?

@@pjtrant You don't need to, and you probably shouldn't, if you've already accounted for it on Form W-4V. You can always check your withholdings and increase them if needed.

Generally, I recommend that people estimate their taxes for the year, based upon what their earnings have been to this point. Below are some resources that will walk you through a couple of ways to do this: How to use the IRS tax withholding estimator tool: th-cam.com/video/zXA4ut_OTzU/w-d-xo.html IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html You can use either of these methods to determine whether you're on track or not. From there, you can better understand whether you need to increase withholdings your W-4P (step 4c). I would suggest either this or simply not entering any information on the form, then submitting it. Once you start seeing tax deductions from your pension/annuity payments, you can re-run the tax estimators (as done above), then determine if you're on track. Generally, you should plan to rerun your tax projection for the entire year in the year *after* you retire. You might end up needing to recomplete Form W-4P for the following tax year.

You would file this form with the IRS office based on where you live. This would be either the IRS office in Kansas City, MO, or in Ogden, UT, as indicated on the bottom of the form.

@@teachmepersonalfinance2169 I see but my question is do ı have to physically in USA

DO I HAVE TO BE İN USA

@@Suleymansoglu According to the form instructions, if your *old* address was outside the United States (doesn't matter where it was relocated to), then you would file with this IRS address: Internal Revenue Service Ogden, UT 84201-0023

@@teachmepersonalfinance2169How can I do it online ?

You would complete this if you're making a tax payment to the IRS via check. But for Roth conversions, you would definitely want to use IRS Form 8606 to track your Roth conversion amount, specifically Part II (see links below). You would also expect to receive a Form 1099-R from your traditional IRA indicating that a distribution came from it. You'll want to make sure that Box 7 on Form 1099-R is properly marked with a Code 2 (indicating an early withdrawal with an exception, indicating that this was a Roth conversion), or a Code 7, indicating a normal distribution. You should also expect to receive a Form 5498 after the tax filing deadline. This is an informational return that should show the dollar amount of your Roth conversion in Box 3. All of these forms should be consistent, so that you know the transaction was properly reported and that you're not paying extra taxes, unnecessarily. IRS Form 8606, Nondeductible IRAs Article: www.teachmepersonalfinance.com/irs-form-8606-instructions/ Video: th-cam.com/video/5L1bs0S8VIE/w-d-xo.html IRS Form 1099-R Instructions (Distributions from Pensions, Retirement Plans, etc) Article: www.teachmepersonalfinance.com/irs-form-1099-r-instructions/ Video: th-cam.com/video/xyIt6e33sso/w-d-xo.html IRS Form 5498, IRA Contribution Information Article: www.teachmepersonalfinance.com/irs-form-5498-instructions/ Video: th-cam.com/video/anqlFa4pRF4/w-d-xo.html

Of course! You can learn more about how I work with clients on this page: www.teachmepersonalfinance.com/work-with-me/ If you wish to schedule an appointment, there is a Calendly link at the end of the page.

Line 15 should be the money that you received from the intermediary. You might want to double-check your Form 1099-S (which you should have received a copy of--see below links). You should use the purchase price for Line 16. For Line 18, you'll have to calculate this based on the following instructions: Include on line 18 the sum of: • The adjusted basis of the like-kind real property you gave up; • Exchange expenses, if any (except for expenses used to reduce the amount reported on line 15); and • The net amount paid to the other party-the excess, if any, of the total of (a) any liabilities you assumed, (b) cash you paid to the other party, and (c) the FMV of the other (non-like-kind) property you gave up over any liabilities assumed by the other party. IRS Form 1099-S, Proceeds From Real Estate Transactions Article: www.teachmepersonalfinance.com/irs-form-1099-s-instructions/ Video: th-cam.com/video/IaBc5bwqnfo/w-d-xo.html

I would say this: You should first estimate your tax liability for the year to see whether you're on track or not. Here are two ways to do that: 1. Use the IRS estimator tool from the IRS website. You can watch this video to learn more: th-cam.com/video/zXA4ut_OTzU/w-d-xo.html 2. Use the worksheet in the IRS Form 1040-ES instructions (I prefer this, because you can actually see the calculations): IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html Once you've got a handle on your projected income and taxes paid, it will probably be easier for you to make your adjustments for the rest of the year. Keep in mind that you probably will have to go through these steps at the beginning of next year to make sure you're withholding correctly the entire year--the withholdings that work this year might not be the same as next year's.

I wasn't able to find an online reference, either in the instructions, an IRS publication, or in the Internal Revenue Manual. You might want to discuss this with the IRS in more depth for a complete answer. But if you wish for the IRS to send ALL correspondence to the consolidated C corporation's location, then you probably could just file one form.

The Box 6 number is their state-issued tax ID number, which might be different from their employer ID number (EIN).

If this is a joint tax liability, then they should be able to use one document.

alright, thank you so much! 😸

The IRS does not care *how* you pay your taxes throughout the year, but the IRS does care *that* you pay taxes throughout the year, based on how you earn your income. So if you choose another way to pay taxes, it does not matter what you put on this form, as long as it's enough. For example, you can use IRS Form 1040-V, which is the quarterly payment voucher (see resources below), or you can make online payments through the IRS website. The IRS will impose a penalty for not paying *enough* taxes throughout the year. You would use IRS Form 2210 when filing your tax return to determine whether you have a penalty, and to calculate it (see links below). You can check your withholdings to determine whether you're withholding enough taxes by using the worksheet in the IRS Form 1040-ES instructions (see below). From there, you can increase withholdings on your Form W-4 if you need to. IRS Form 1040-V, Payment Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-v-instructions/ Video: th-cam.com/video/Js3qWBaV-Lo/w-d-xo.html IRS Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts Article: www.teachmepersonalfinance.com/irs-form-2210-instructions/ Video: th-cam.com/video/9Mm1EI6BSjI/w-d-xo.html Schedule AI Video: th-cam.com/video/MMbwYmZDMSw/w-d-xo.html IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html

The new W-4P forms make adjustments for other income sources, such as your husband's job. If you don't put this information in, then your withholdings might be less accurate. Of course, you don't have to put any information in there, if you don't want to. Either way, you might consider checking the accuracy of your withholdings after they take effect. Below are some resources to help you do that, if you're interested. Of the two, I believe the worksheet for Form 1040-ES is more accurate. IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: th-cam.com/video/MqA_0OX9kxI/w-d-xo.html How to use the IRS Tax Estimator Tool th-cam.com/video/zXA4ut_OTzU/w-d-xo.html