Social Security Page 23

Social Security Questions

National debt – reader calls Terry “a bit dated”!!

Have you read Stephanie Kelton’s book “The Deficit Myth”? It makes a lot of sense to me. Your views seem..

SALT — new exceptions in Illinois

Hi Terry, Wondering -Just heard you with Steve Bertrand – What about S-Corp (Instead of LLC) to be able to..

Income tax for 2020

I usually pay about $200 income tax yearly. My last tax cost $1,739. I did increase my quarterly IRA withdrawals..

Child tax credit impact

How does this new child tax credit affect my tax return? And will this affect being able to qualify for..

Amended taxes

I had to amend my 2019 Federal and State taxes…having to pay additional money as well as a penalty. Does..

Quarterly Taxes

I filed my taxes by mail in, I’m getting a refund, and requested the first quarterly payment be taken from..

Reembursment

If I owe irs 2000 dollars will they take it out of the 10,200 of my taxes that I filed..

Estimated tax penalty

Hi Terry, I am retired and the withholdings from my pension and investment income were far below my tax obligation..

1099s – League Winners

Softball teams pay fees to play in a tournament. Winners receive a payout: either a credit on their account or..

Stepped up cost basis

There is talk about eliminating the stepped up cost basis on assets being inherited by heirs. Would this include home..

unemployment benefits for IRS filing

i live in illinois and am filing my taxes on Monday. do i need to file both Federal and State..

Where’s My Refund?

I filed my 2020 taxes early and the were accepted by the IRS on 2/15. I have yet to see..

Late 1040 Filing Refund

I’m a perpetual late filer for reasons I won’t go into. However, I filed my 2016 taxes that were due..

Itemized Deductions – State of Illinois Sales Tax

We are retired, and are residents of Illinois. We take Itemized Deductions on Schedule A. Because our income is all..

1040SR federal tax form

Hi Terry I completed my 1040SR federal tax forms from the irs.gov site I had to add my agi on..

Covid Stimulus

Hello, I am curious about what could be done regarding taxes and covis/stimulus. The government is giving all housing benefits..

Tax Filing Status

Are there any particular rules of thumb for deciding whether to file separate or married /joint status on your income..

Tax Form 8915-E

Hi Terry, I need form 8915-E to complete and file my taxes. However, I understand the IRS has not yet..

Filing taxes

Is interest paid on my home mortgage deductible ?

1040 SR help filing

Since retiring my return has been returned many times. Is there a real good guide, step by step that can..

money

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