If you were wondering why they chose 4547 for the form number to open a Trump Account, you need look no further than the man himself. Donald Trump served as the 45th and now 47th President of the United States, hence Form 4547. The form can be filed with the tax...
For the Tips, Overtime, and Senior deductions, married taxpayers must file a joint return in order to claim the deductions unless they meet the qualifications to file as Head of Household. The one exception to this is the new deduction for Qualified Vehicle Loan...
Ask Us Anything Dear Brass Tax Presentations, I have taken on a church as a client. They have not applied for non-profit status (I know they are deemed a non-profit since they are recognized as a church). The previous person (now deceased) handled their info. They...
Ask Us Anything Dear Brass Tax Presentations, We are having some confusion over the following topic and were wondering if you could provide some guidance… Does California conform to the IRS regulation allowing for a $1,000 IRA catch-up contribution deduction for...
Ask Us Anything Dear Brass Tax Presentations, We amended a 2019 Form 1040 from MFS to MFJ. The original return was e-filed on 3/28/22, and amended on 3/18/24 (within the 3 years). However, the IRS rejected the refund request because the amendment was “filed late”,...
Ask Us Anything Dear Brass Tax Presentations, I understand cryptocurrency gains/losses can be reported using FIFO or specific identification. Then, LIFO or HIFO could be used as forms of specific identification. If a taxpayer wants to use one of these methods, do they...
