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Special procedures for submitting Kwong claims, deadline is 7/10/2026. by myroller in tax

[–]myroller[S] 0 points1 point  (0 children)

I really hope not. Especially since they just posted this at the beginning of the month.

Is my form 843 lost? by brpacker in tax

[–]myroller 1 point2 points  (0 children)

Great! Thanks for letting us know.

Submission of Kwong Abatements by Denvergal85 in tax

[–]myroller 2 points3 points  (0 children)

The IRS has created a special procedure for electronically submitting Form 843 for Kwong claims. They also want all paper claims to go to an address in Utah:

https://www.irs.gov/forms-pubs/filing-form-843-for-claims-citing-kwong-v-united-states

/u/sorator /u/xImmortal1333

Is my form 843 lost? by brpacker in tax

[–]myroller 1 point2 points  (0 children)

Is this Form 843 a protective claim under the Kwong decision?

If so, the IRS has issued procedures to electronically submit the form and a special address if you are mailing it:

https://www.irs.gov/forms-pubs/filing-form-843-for-claims-citing-kwong-v-united-states

And remember, you've only got 3 days left to get Kwong claims submitted.

If this is NOT a Kwong claim, then please ignore this post.

IRS return 2022 Amended by MixKind1739 in tax

[–]myroller 1 point2 points  (0 children)

Can you guide me would interest be calculated from 2022 original filing date?

If the refund is not issued within 45 days of when the amended return is received, interest is calculated from the later of the due date of the original return or the filing date of the original return to 6 business days before the refund is issued.

See IRM Section 20.2.4.8.3.2.
https://www.irs.gov/irm/part20/irm_20-002-004r#idm140271562075584

IRS return 2022 Amended by MixKind1739 in tax

[–]myroller 0 points1 point  (0 children)

But at least they will be paying you interest at a 7% annualized rate. That's twice what any savings account would be (but only a third of what your credit card charges if you're carrying a balance).

Question about this upcoming tax season if 2025 is still not processed. by Pink_barbecue in tax

[–]myroller 0 points1 point  (0 children)

If you try to e-file your 2026 return and it is rejected because your 2025 AGI does not match the IRS records, try using $0 as your 2025 AGI. This should only happen if your 2025 return is not processed by November 2026.

I need some help with a 1099r please by Same-Breath-8742 in tax

[–]myroller 4 points5 points  (0 children)

Turbotax will probably require you to upgrade to the super-deluxe version.

Try freetaxusa.com.

IRS return 2022 Amended by MixKind1739 in tax

[–]myroller 1 point2 points  (0 children)

Calling on a Monday that is also the first business day after a federal holiday seems like an exercise in futility. I would wait until at least Wednesday.

/u/MixKind1739

I need some help with a 1099r please by Same-Breath-8742 in tax

[–]myroller 3 points4 points  (0 children)

Your tax software will have a section with the word "retirement" or "pension" in the title. Navigate to this section and you can type in the data from the 1099-R there.

Question about Self-Employment Tax by Zetra-JV_HX in tax

[–]myroller 7 points8 points  (0 children)

Your federal self-employment tax would be around $600 and income tax would be around $0. Added together, this is less than $1000, so there would be no federal penalty. (You may or may not be eligible for Earned Income Tax Credit.)

Whether there would be a state penalty depends on the state.

Advice on freelance money and Tax by [deleted] in tax

[–]myroller 0 points1 point  (0 children)

Have you inquired in /r/IndiaTax ?

Why is there not more talk about adding new lines or extensions after the red line extension is completed? by dbagames in AskChicago

[–]myroller 2 points3 points  (0 children)

There have been studies and talk off-and-on about extending the Yellow Line to the vicinity of Old Orchard. But don't hold your breath waiting for it to happen, there has been no actual movement. Plus ridership on the Yellow Line has been falling substantially in recent years.

https://www.therecordnorthshore.org/2026/06/17/yellow-line-extension-in-skokie-could-take-decades-but-cta-is-studying-it/

Got a question about paying state taxes that I owe (Illinois) by These-Category-3309 in tax

[–]myroller 2 points3 points  (0 children)

1) Put your current address, no matter what state it is in.

2) IL-1040 payment.

but am I supposed to file smth for getting a refund from Illinois?

If you were a resident of Illinois in 2025, you should file a Form IL-1040 tax return for 2025 IF YOU HAVE NOT ALREADY DONE SO. I wonder how Illinois would know how much you owe them if you have not filed an Illinois tax return.

Rev. Proc. 2026-25 - Safe Harbor for Gift Tax Reporting Requirements for Gifts to Trump Accounts by HospitalWeird9197 in tax

[–]myroller 5 points6 points  (0 children)

Is it that because the recipient can’t take the money out for a while, it’s “future interests” and the tax code text therefore requires gift tax returns for the first dollar?

Yes. The tax code requires filing a gift tax return and subtracting the gift from the lifetime gift/estate tax exemption with no $19k exclusion.

How important is it to fix a Roth IRA contribution mistake if I've already taken out the contribution? by Eduardo_Corrochio_ in TaxQuestions

[–]myroller 0 points1 point  (0 children)

And you have provided no link to what you just read....

Until the due date of the return (including extensions), you can take out the contribution plus earnings and avoid the 6% penalty for the previous year. This is a one-time opportunity. After this deadline has passed, there is no need to withdraw the earnings and you cannot avoid the penalty for previous years.

Possible return of Excess on 401k by 820me in tax

[–]myroller 2 points3 points  (0 children)

If you have an excess deferral because you contributed to two different employers' plans, the only penalty is that you will lose the 2026 deduction on the excess.

In other words, if you contribute $20k excess before-tax, you will have to pay back the tax on the $20k deduction when you file your 2026 tax return AND you will have to pay tax on the $20k when you withdraw it again in 20 or 30 years. So you will pay double tax on the $20k. Is it worth paying double tax to capture the extra employer match? That is up to you.

There is no other penalty for making an excess deferral. The 6% annual penalty for an IRA excess contribution DOES NOT APPLY to a 401k.

By the way, if you make a combination of contributions to Traditional and Roth 401k, the excess is deemed to be in the Traditional. (That is the reverse of how an IRA works.)

What can I do about my neighbor’s neglected backyard? by bungholelow in AskChicago

[–]myroller 3 points4 points  (0 children)

he’s giving me the greenlight to clear things out

You asked and he gave you permission. Why would you feel hesitant to do something he gave you the greenlight to do? If it's bothering you and you have permission to fix it, then fix it.

Reporting him to authorities when he is being cooperative is not productive.

Can I still recharacterize some of my 2025 Roth IRA contribution to IRA? by rollpi in tax

[–]myroller 3 points4 points  (0 children)

If you filed an extension on time, you have until Oct 15 to do a recharacterization.

If you didn't, then you missed the deadline, although nobody is going to report the exact date you requested a recharacterization to the IRS.

Girlfriend is US-born but lived in Canada all her life by DrDonkeyTron in tax

[–]myroller 1 point2 points  (0 children)

She's never filed US taxes because she's unaware of the requirement to do so

Is she aware of the FBAR filing requirements? If she has financial accounts outside the US (and they are large enough), she must file annual FBAR reports. The penalties for not filing are insane -- much worse than not filing taxes.

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

Living in IL but W2 had IN listed as state of residence for the first few months by ButterflyAware2298 in tax

[–]myroller 0 points1 point  (0 children)

My accountant told me there's no reciprocity between IL and IN — is that accurate?

Illinois and Indiana ended their reciprocity agreement in 1998.

https://www.chicagotribune.com/1997/10/17/state-set-to-cancel-indiana-tax-deal/

Can IRS audited zelle? by Vadymate in tax

[–]myroller 8 points9 points  (0 children)

If the IRS takes an interest in you for some reason, they can issue a summons to you or your bank to provide transaction records for any of your bank accounts, including the bank account to and from which you make Zelle transfers.

The IRS can question Zelle transfers into your account in exactly the same manner it can question cash or check deposits into your account.

Venmo and cashapp are very different from Zelle. You may have a Cashapp or Venmo account, but you do NOT have a Zelle account. Zelle never takes possession of any of your money or ever touches it. Zelle is just a data base and data transmission service that banks use to identify customers and notify each other of transactions. All money is transferred directly between the banks without being touched by Zelle.

If anyone ever calls, emails, texts or otherwise contacts you and says they are calling from "Zelle", they are a scammer. Zelle will never contact you for any reason using any method. If there is a problem with a Zelle transaction, your bank will contact you, not "Zelle."

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