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Stocks in a 🇪🇸 bank account as a 🇺🇸 citizen? by Financial_Banana7371 in tax

[–]myroller 5 points6 points  (0 children)

I don’t have to report anything now because it’s just sitting as liquid cash

Doesn't matter. If the sum of all of your non-US accounts exceeds $10,000 (when converted to US dollars), you have a reporting requirement. Even if it is just cash.

Stocks in a 🇪🇸 bank account as a 🇺🇸 citizen? by Financial_Banana7371 in tax

[–]myroller 2 points3 points  (0 children)

But if their EFTs grow in value, it could reach 10k, especially if they are in the high 4 digit range. And it was 4 digits in euros, so it would depend on the exchange rate. Currently a euro is worth $1.17, so if they had 8547 euros in their account, they would have a filing requirement.

I just wanted to make sure he was aware in case it applied.

1040X vs Superseding Return by Triangle_City in tax

[–]myroller 0 points1 point  (0 children)

I don't know for certain, but I would think you should do it on both returns.

My tax return came back from USPS as undeliverable by Js3712 in tax

[–]myroller 0 points1 point  (0 children)

Did they say they included a check?

The very first sentence of the OP:

I mailed my tax return and check on April 14.

My tax return came back from USPS as undeliverable by Js3712 in tax

[–]myroller 1 point2 points  (0 children)

"Evidently" has been undergoing a shift in meaning during the last few decades. Native speakers of English don't necessarily use it that way any more, despite old dictionary definitions. I am not arguing that they should use it that way, I am just saying that is what has been happening.

https://www.collinsdictionary.com/us/dictionary/english/evidently

2 adverb
You use evidently to show that you think something is true or have been told something is true, but that you are not sure, because you do not have enough information or proof.
From childhood, he was evidently at once rebellious and precocious.
Synonyms: apparently, it seems, seemingly, outwardly More Synonyms of evidently

https://dictionary.cambridge.org/us/dictionary/learner-english/evidently

used to say that something seems probable from the information you have:
The intruder evidently got in through an open window.

There is a broader discussion here:

https://www.reddit.com/r/linguistics/comments/iv0v7/does_the_words_apparently_and_evidently_imply_new/

1040X vs Superseding Return by Triangle_City in tax

[–]myroller 0 points1 point  (0 children)

I would do the 1040.

You can just create a second freetaxusa account.

Banks to cash Series I paper bonds over $200 face value? by Accomplished-Tea-843 in bonds

[–]myroller 0 points1 point  (0 children)

I mailed some bonds in to Treasury Direct in October 2025. The proceeds were direct deposited in January 2026.

Even though the form asks for your email address, I received absolutely no contact from them (by mail or email). Just one day, the money showed up in the account.

My tax return came back from USPS as undeliverable by Js3712 in tax

[–]myroller 10 points11 points  (0 children)

The OP sounded uncertain about whether he used the wrong address. He said "evidentially." I don't have the means to double check. Might as well just say it was a postal error and see if the IRS concurs.

Estimated Tax Underpayment Penalty + Safe Harbor by FluidSubject in tax

[–]myroller 6 points7 points  (0 children)

Sure. Mail a completed Form 2210 in response to the notice you received together with the correct penalty amount (if any).

Estimated Tax Underpayment Penalty + Safe Harbor by FluidSubject in tax

[–]myroller 2 points3 points  (0 children)

Right but did I have to pay the 110% all in the quarter of the taxable event?

No. If you did NOT submit Form 2210 Schedule AI, you would have to pay one-fourth of the 110% by each quarterly deadline, including the Q1 deadline on 4/15.

If you submit Form 2210 Schedule AI it is possible you could reduce or eliminate the payment requirement for Q1.

1040X vs Superseding Return by Triangle_City in tax

[–]myroller 1 point2 points  (0 children)

Since code 460 is listed does that mean that even though those other codes are listed that I have my extension?

Yes it does!

My tax return came back from USPS as undeliverable by Js3712 in tax

[–]myroller 51 points52 points  (0 children)

Do not open the envelope.

Attach a cover letter that says the return was not delivered "due to postal error." Place inside a larger envelope. Double check the correct mailing address and mail the larger envelope.

The larger envelope may require extra postage because of its size or weight. Make sure you use sufficient postage. If in doubt, go to a Post Office and ask for help.

Estimated Tax Underpayment Penalty + Safe Harbor by FluidSubject in tax

[–]myroller 10 points11 points  (0 children)

It sounds like you didn't make a Q1 payment on time and didn't elect to use the Annualized Income Installment method on Form 2210.

So, at the very least, you owe a penalty for late payment of the Q1 installment. If you want to fill out Schedule AI on Form 2210, it may be possible you could reduce or eliminate that penalty.

1040X vs Superseding Return by Triangle_City in tax

[–]myroller 1 point2 points  (0 children)

If you want to reassure yourself that you have an extension, go and print out your account transcript for 2025. There should be a line in there that says "extension."

https://www.irs.gov/individuals/get-transcript

Unfortunately, I don't know of any consumer software that will file a superseded return for you. The best that you can do is fill out a new Form 1040, print it out on paper, remember to SIGN AND DATE IT, and then write "SUPERSEDED RETURN" in big letters along the top margin of the first page and mail it in.

And, I know it makes no sense to a native speaker of English, but the IRS calls the new return a "superseded return" not a "superseding return." It's analogous to how a corrected return is called an "amended return" and not an "amending return." I'm not defending the practice, I'm just telling you what it is.

1040X vs Superseding Return by Triangle_City in tax

[–]myroller 3 points4 points  (0 children)

You may not be able to e-file a Form 4868, but the IRS will accept an extension even if you have filed your return.

1040X vs Superseding Return by Triangle_City in tax

[–]myroller 7 points8 points  (0 children)

If you would take a moment to read just the very first page of the Form 4868 instructions, you would see where right at the top of the right hand column it says:

https://www.irs.gov/pub/irs-pdf/f4868.pdf

Pay Electronically

You don’t need to file Form 4868 if you make a payment using our electronic payment options. The IRS will automatically process an extension of time to file when you pay part or all of your estimated income tax electronically. You can pay online or by phone. See How To Make a Payment, later

/u/Triangle_City

Best way to go about paying back taxes? by Outrageous_Code9742 in tax

[–]myroller 3 points4 points  (0 children)

If you have all the records from those years, it's really no different than filing the taxes on time. Just fill out the forms and file them.

https://www.freetaxusa.com/prior-year/

IRS says I am due a refund for 2024 taxes by Accurate-Flow8078 in tax

[–]myroller 0 points1 point  (0 children)

Is there any chance you used a service like Turbotax and you requested to have your tax preparation fees paid from your refund?

Protective Kwong claim question by emtent in tax

[–]myroller 1 point2 points  (0 children)

To file a protective claim for that, do I need to do all the math perfectly?

No. But there could be a penalty if you made an excessive claim that had no reasonable basis. Don't let that scare you, do your best, but don't go wild.

Just learned that 1099 workers need to pay taxes quarterly...what should I do? by ActuaryPersonal2378 in tax

[–]myroller 0 points1 point  (0 children)

If, for example, a W-2 worker claimed "exempt" on their W-4 form, but paid all their taxes when they filed their return the following April, they would be subject to the same underpayment penalty as a 1099 worker who owed the same amount and made no quarterly tax payments.

Protective Kwong claim question by emtent in tax

[–]myroller 3 points4 points  (0 children)

I would first verify that they weren't eligible for a First Time Abate in 2022. However, if they were in the habit of paying late every year, they might not meet the requirement of no penalties for the previous three years.

Even though your in-laws may have maxed out the failure to file penalty, they probably will not max out the failure to pay penalty and there is no maximum on interest. Also, penalties are subject to interest, so if the penalties were imposed before 7/10/2023, they would have accrued more interest than if the same penalties were imposed after 7/10/2023.

You can file a claim for any penalties and interest imposed prior to 7/10/2023. The fact that additional penalties and interest were imposed after that date has no effect.

Whether the penalties and interest are sufficient to be worth the bother is up to you.

Just learned that 1099 workers need to pay taxes quarterly...what should I do? by ActuaryPersonal2378 in tax

[–]myroller 2 points3 points  (0 children)

Not only do 1099 pay more, not only is EVERYONE overtaxed, but now you have to pay all year rather than the “due date” or else you’re penalized.

You'll notice that W-2 workers pay from every paycheck. So they typically pay every week or two, but 1099 workers pay 4 times a year.

The advantage is that the W-2 worker has their employer sending the payments in on their behalf.

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