I work full time at a regular 9-5 but unexpectedly received $25k from an old consulting client I thought had stiffed me. I’m glad to have received the money obviously and am wondering if there is anything smart I can do with it this late in the year. Increase my 403b contribution at my 9-5 to reduce my overall taxes? Put a bunch of it in a Roth if we MFJ for 2026? If the latter - can I move the money into the Roth in early 2027 (before tax day) as long as we MFJ for 2026, even if we decide to MFS for 2027 (which we might do for student loan reasons)? Thanks for any thoughts!

Hi everyone! I have a 1-hour final-round onsite interview for a Senior Tax Accountant position at an industry company.

Is the final-round interview usually more focused on technical tax questions or behavioral questions? I’d appreciate any advice or insights on what to expect.
Thank you very much!

Hi,

So my mom's boss needed a part timer, so I thought I could fill in. I thought it would be fine, but apparently I couldn't be listed under the company because I was only going to fill in temporarily.

But then she started paying me under the table. I didn't like this, but I thought it would just be for a few wks, but she still hasn't found someone to replace me in like 3ish months. I've probably been paid at least like 3-4k over this time, and while my boss did make me sign a w4 (and had been detecting, taxes from pay??) she specifically told me to not report this income. Worst part is that she deposited it in my bank account.

I'm not looking for help in tax fraud lol, but I don't wanna get in trouble for not filing. I haven't said anything because I don't want my mom fired. I have now left, but like is there anything I can/should do?

Edit: I'm 18yro and a citizen

My husband's grandparents each had a generation-skipping trust which were funded as each of them died, in 1979 and 1985. My father-in-law (skipped generation) passed away in April and the trustee, a bank, is finally ready to distribute/dissolve the trusts.

I now know that the trusts hold ETFs, so the basis for each of the holdings is from when the trustee bought the various ETFs, NOT from the beginning of the trusts.

My FIL paid taxes on the income from the investments each year.

I am assuming we need to know the value of each trust when it was funded.

How do the grandchildren figure out and report the taxes as those ETFs are sold? We know what the gain or loss of the ETFs are, but we also have to include the gain of the overall trust, don't we?

If one of the grandchildren holds the ETFs and doesn't sell before they die, does the gain on the trust simply go away and the great-grandchild's basis becomes the value of the ETF on the date of the death of the grandchild?

Thank you for any insights on this.

Thank you in advance for your help.

Thanks so much for any help.
I live in Texas and will have made 3,000 by the end of the year. My parents will be claiming me as a dependent. I’ve been saving 25% of my earnings but looked it up and I may be taxed at a lower percentage than that?
We have no state tax, google says my self employment tax rate is 15.3% and I may not owe any federal taxes? I’m wondering if this is correct?

If 15.3 % is my tax rate then I can go ahead and get a medical procedure with some of my savings which would be huge for me so just trying to figure that out now.

Hallo zusammen, kann mir zu meinem aktuell Fall jemand eine Einschätzung geben

Ziel: Einfamilienhausbau + Steuerersparnis & Vermeidung von Versteuerung der stillen Reserven

- Betrieb wurde nie aufgelöst und Vater ist noch im Besitz von mehreren Feldern/Hofstelle für Verpachtung & Forstwirtschaft(Gemeindenutzen)
- Vater(Rentner) möchte Landwirtschaft mit Hofstelle & mehreren Wiesen an 3 Kinder im Rahmen einer GbR übertragen.
- Davon befindet sich 1 Wiese im Außenbereich am Ortsrand mit angrenzender Bebauung ist aktuell landwirtschaftliche Fläche.
- Nach Übertragung bin ich Eigentümer
- Ich habe vor auf dieser Wiese 2200qm im Rahmen des Bauturbos zu bauen.
- Formlose Bauvoranfrage an Gemeinde gestellt im Rahmen des Bauturbos dort bauen zu dürfen wurde von der Gemeinde genehmigt.

Fragen:

- Welchen Steuerlast kommt auf mich zu, da ich ja die Landw. Fläche ins Privatvermögen entnehme

Received FAMLI in CO back in 2024. Back then it was new, the state said it was NOT taxable but they didn’t know if federal taxes would be owed. In 2025 I believe they implemented withholding of 10% but they still haven’t ruled on how this all works. Anyways now i get a letter from the irs saying i owe $3k because of not reporting nor withholding for FAMLi. (I never received a 1099, and I was dealing with mental health stuff so I believed that because there was no tax documents on the Colorado government website that I didn’t have to do anything). The earned income and the additional child tax credit were also overstated I’m guessing because of this. Can anyone point me in the right direction?

Hey y'all,
Just got converted from temp to permanent at my company in Texas (no state tax). I'm filling out my new Form W-4 and plan to file as Married Filing Separately (MFS).
I want to enter $2,000 on Step 3 for my daughter to keep a little extra cash in my bi-weekly check for her daily expenses. Will this leave me owing money to the IRS at tax time, or will normal withholdings cover it?

Thank you guys very much

I applied for my partner when he got his Walmart job. I accidently put my social security number out of habit, and as soon as I hit submit, I caught it and I called them IMMEDIATELY and they told me they would fix it. I blindly trusted this info. Well, 6 months later they fired “me” (my partner) and rehired him under his social. They then told me I can never work for Walmart and I have to file taxes. This was the manager of the store that said this. This doesn’t seem right and I’m going to be paying for their mistake. Especially as we get a good chunk of change at tax time for my partner who claims me and the kids. Now the tax return will be all messed up. Idk what to do

Hey so i currently work a full time 40hr/week job earning $19.53, I am about to start my part time job which will be about 20 hr/week at $18. i am also single - no dependents.

i am filling out a w4 for my part time gig, and it says to check the box if i work more than one job.
i am so confused on what to do. Will it make a huge difference if i do not withhold more on my full time w4? is it really necessary i make the adjustments to both? i was planning to put the PT job under 2% rate and leave it at that or does that sound like a bad idea? i tried using the calculator to figure out the math but do not have a paystub at the moment.

any suggestions would help.

Okay, lay it on me. Give me all of the details. Now that 10/15 is finally over, I’m ready to sit my happy ass with some popcorn reading these stories!

When Certifying on unemployment it asks to post wages earned the week of. If I'm doing Uber eats do you put your gross wages or your net wages. I'm thinking I would put in what I earned than subtract expenses being miles driven. Tyia

Bit of a multi-factor question.... We live in CA and Partner A has 300k in student loans earning $X annually. Partner B has 0 in student loans and earns $3X annually.

We need to file separately because filing jointly significantly increases our income based student loan payment going towards public service loan forgiveness.

Question is: If we file separately in a community property state does form 8958 always need to be split 50/50 so each spouse is allocated half the earnings; or can we allocate each partners earned income based on their W2 earnings?

We can certify income for the student loans using alternative documentation like 8958, paystubs, W2 but using paystubs always uses the earners gross instead of taking pre tax deductions into account.

Our accountant always splits 50/50 but I'm wondering if we can allocate 8958 based on each partners individual income to certify with that and keep our payments down.

I’m filing my 2024 tax return, but I already made an extension payment for my 2025 taxes which have not been filed yet. Should the 2025 extension payment be entered anywhere on the 2024 return, or is it handled separately as a payment toward 2025 only?

I want to make sure the IRS doesn’t mistakenly apply it to 2024 or issue a refund because they see the payment and return for different tax years. The payment was intended for 2025.

Is there anything I should check or do to ensure it’s credited to the correct year?

If someone were to recive a refund from the us treasury after paying missed taxes from an amendment is that concerning? should it voided and sent back according to the instructions on the irs website?

I need to close my LLC that I never did business with in PA, but I'm confused about the steps to take. Some sources say I need to Dissolve it, others say I need to Terminate it. Which one do I need, or do I need both?

I took on a client who's past returns were a mess. He is genuinely trying to get things straightened out and not grumbling about paying the IRS 10k+ for the past few years in the process.

We have everything straightened out except for 2023. The client received a 1099 that reported about $10k in FIT withholding. The previous preparer executed a nominee distribution of the income to an S-Corp, picked up the income on the 1120-S, reported the related K-1 on Sch E of his 1040, and reported the $10k FIT withholding reported on the 1099 on the 1040.

On examination the IRS disallowed the $10k in FIT reported on the 1099. The client went through the appeals process himself, eventually filing a small tax case petition which was dismissed on procedural grounds due to missing the deadline to file the appeal.

If he had come to me when he received the first IRS notice, this is an easy fix, but it has progressed beyond the point where I know how, or even if it is possible to address. I am tempted to refer him to a tax attorney, but I don't want him to get gouged if the FIT is not recoverable. Does anyone have any ideas/advice?

Hello. I’m panicking a bit. And I know this is the internet so I’m all ready to scroll on past trolls who judge me for being here.

I am incredibly behind in taxes. City income and state sales tax (as a very part time small business). I had filed 2017-2021 income city tax but had a balance I tried to pay for, but couldn’t keep up. That was referred to the state Treasurer collections unit. I thought my accountant filed 2022-2024 city taxes but didn’t, so that’s where the garnishment came from (I do some contract side part time work).

I got a wage garnishment notice this week for delinquent city tax filings and payment, and promptly borrowed, hustled for the money to pay for it.

But I’m worried what’s to come. A portion of my income tax balance between 2017-2021 got sent to the state treasury collections department.

I’m estimating about $8k owed in back taxes.

I’m a single mom (since 2017). I have three girls, 22 (in college), 19 (in trade school), and 14 (freshman). Not that I need to explain or defend myself, but I have struggled with mental health issues (PTSD, anxiety, depression with suicide ideation, panic disorder, ADHD), since my dad passed and grandpa passed close together in 2018. Then worked at a health department during the pandemic, which really took a toll. Found a new job, got laid off last year. I took a job paying less, and have been working 2-3-4 jobs to make ends meet. I have a budget, I stick to it, for the most part, unless my older kids have emergencies.

I know others have it harder, but I’ve hustled and sacrificed to make ends meet for my family (divorced, no child support), and sacrificed a little too out of my capacities so am now trying to clean up the mess. Am I screwed? My body is shot from the PTSD symptoms and panic … I’ve lost 6 pounds this week. Again, I KNOW I effed up and am willing to put the work in to make it right, but worried it’s going to be impossible.

I formed an LLC and am the sole member. No other elections so it is a disregarded entity. The LLC has an EIN. For W9 purposes I do not want to have my SSN on there. I understand the wording says it can either be the owner's SSN or EIN, my question is: How can I get a "personal" EIN? I'm having trouble understanding the IRS guidelines and the online application website. Any help is appreciated.

There was a small remainder left to contribute to my SEP IRA, but I forgot to do it yesterday, October 15th. The Small Business department at my brokerage said go ahead and make the contribution because they report to the IRS the year the contribution is made, not the tax year, so it will show up as 2026 anyway, and it is up to me on my taxes to tell the IRA that that amount is designated for 2025 tax year. Is this right? I already filed my taxes last week and paid state and federal in full.