Taxes & Economy

Taxes & Economy Questions

Head of household

My daughter and 2 grandchildren (ages 10 months & 2 years) live with me. She is on SNAP and TANF..


My husband passed away in Feb 2024. I filed my 2023 taxes and the IRS has not approved them. Is..

Excess IRA contribution

Hello Terry, I watch you at WGN and enjoy your topics, very helpful. I have a personal question regarding excess..

Tax Refund

I am receiving the $7500 electric vehicle rebate on my taxes for 2023. I filed electronically and they were accepted..

taxes on my social security

i live on social security only, do i have to pay taxes? iam 72 yrs. old and to date i..

part time job with holding tax

Hello Terry: I’m 71 years old and retired a little over a year ago. I have income from Social security,..

IRA Transfer to another IRA with a different company

When you transfer an IRA form one company to another, I thought you should receive a 1099-R indicating the tax-free..

Capital gains

I’m selling an investment property(quick house flip) I will have to claim the gains as income as I will have..

Sale of home and Property Taxes

Hi Terry! My husband and I sold our home in June 2023. We bought a new house in July 2023...

Refund of taxes withheld

My sister, Robin, 61, has dementia and Down syndrome. She has lived with me in my home since 2006 when..

Free file with the IRS website,

Hi Terry, I just saw you on WGN, at approximately 8:35 am, and you were promoting the IRS free and..

Tax preparation at IRS Free file

Tax question: I only have standard deduction. Is free file on the best way to file or do I..

Tax Refund Web Site (

My Accountant Filed my “2023 Fed Taxes” electronically 5 weeks ago.. For the past week I have been checking the..

corrected mortgage statement

I received a corrected mortgage statement yesterday. The mortgage interest is less than the original mortgage statement. There is about..

Tax relief help

My 65 yr old brother hit a brick wall financially and emotionally. He’s working in a restaurant (not earning much)..

Scam on income tax

My friend fell for scam right after her husband died. She filed police report. Is she able to claim this..

Income tax filing

Hi Terry, I am divorced and it is not my year to claim my dependent son. I own my own..

4 week T-Bills taxes

I have been buying 4 week T-Bills in 2023. I know I have to pay Federal tax on the interest...

Tax question

Hi Terry, my husband and his sisters sold their family home last year since both parents have passed away (it..

Tax forgiveness

Are there any legit tax help companies and should I try them. I’ve filed all yrs but I owe past..



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