Taxpayer asks:
Is there a way to complete the W9 form that is technically legal that will avoid being 1099’d for income paid to you?
Taxgirl says:
No, not legally. The rules about when a form 1099 must be issued are pretty clear and there’s no magic language or box that you can check that will change that. Moreover, there’s a little bit on the form W-9 where, when you sign the form, you’re swearing that you’re telling the truth. Just saying.
Taxpayer asks: I thought the Postal Service’s “forever stamp” was a great idea. I stocked up on forever stamps at 41 cents each right before the new postage rate went up to 42 cents. Now I have a dilemma. Since these forever stamps with a basis of 41 cents are now worth 42 cents when…
Taxpayer asks: Hi, I work for a company and am currently deployed to Iraq. I had met the Social Security Cap for withholding mid 2008 and mid year was transferred to our subsidiary. They again withheld my Social Security to the Cap so in effect I paid double the amount I should have. Can I…
The Internal Revenue Service (IRS) has announced a game-changer: later this summer, taxpayers will be able to file Form 1040-X, Amended U.S Individual Income Tax Return, electronically. Before this year, you could only amend your tax return by paper. At the best of times, that could mean a six-to-eight week wait for processing. And these are not the…
Taxpayer asks: A not for profit hosted a competition in which my 11 yr old daughter won $500. In order to write her the check, They have asked to have her complete a W-9. I thought that since: 1. The value is below $6002. She is a child that will not be filing a return…
Taxpayer asks: I saw on twitter that you ran a race this year so maybe you can help me. I run a number of races throughout the year and I occasionally win some money. My friend told me that I have to include that money on my taxes. Can I deduct the cost of the…
The IRS has indicated that it “will incorporate important changes into a new version of the Form W-4, Employee’s Withholding Allowance Certificate, for 2020.”