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If you select 'Final,' then you're informing the IRS that you do not plan to file future tax returns under that Tax ID number. I don't believe it's necessary to re-file Form 56 for this purpose.

@@teachmepersonalfinance Ok, thanks so much!

I'm not sure what you mean. If you're referring to the check box in the spouse's name field, then I would probably leave that alone, unless you want your spouse to appear on a separate Form 6166.

⁠@@teachmepersonalfinanceThank you for the reply. My question is what should I check in order for both of us (me and my wife) to be on the 6166 certificate? IRS sent me 6166 with only my name and without my wife’s name.

@@Johnny-sg5tc Did you call the IRS to see why they omitted your wife's name from the certificate? It seems that if she was jointly listed, then her name should have appeared on the form. However, the IRS might have different guidance on how to approach this, so that they process the certification in accordance with your wishes.

I'm not sure that I fully understand your question. Are you referring to your mother? If so, then she was probably collecting on your father's benefits, unless she earned significantly more than him over the course of her lifetime.

I don't believe you can, based upon the form instructions. The employer withholding instructions direct employers how to process W-4 forms, while the Form W-4V is for certain government payments and unemployment compensation.

Here's a link to an updated video that I just released: ua-cam.com/video/oWUNYqSDLYc/v-deo.html

This is an optional field for recordkeeping purposes. You do not have to enter a number in this field, but if you have a system where you assign a control number to specific forms, then this would help you keep track of your W-2 forms or transmittal documents.

Did you call the IRS to see what this issue is with your tax account?

l did, the agent said that notice is auto-generated when there is a large discrepancy from a previous filing. And that l should submit the "copy" of the Return along with the notice 15103, to show that it was filed for 2023. I sure could use your help to make sure l am in compliance.

@@BlueOriginAire I'm not sure which notice you received, and I'll assume that the IRS agent was giving you accurate information. With that said, I would simply follow the guidance that the IRS already gave you. I don't think that there's any extra ploy to hold you liable under perjury--your first tax return already does that. Assuming you're not lying about anything, then there's not a lot that the IRS could hold against you. I don't think you need my help for this, but here is a link to the page where you can schedule an appointment to discuss further: calendly.com/forrest-teachmepersonalfinance/30min

According to the form instructions, you're supposed to enter your PO box number instead of your street address only if your post office does not deliver mail to your street address. There are probably low-cost ways to get around this. You could also call the IRS to discuss your situation to see if there's different guidance. Or you could actually try it and see what happens (although I can't actually recommend it). If I were in your situation, I'd probably call the IRS to see if I could use the PO Box address for the W-9 without having to complete IRS Form 8822-B.

I'm not really sure that it impacts you. I don't see anything in the form, instructions, or any publications to indicate otherwise.

Have you called the IRS to learn more about these letters?

I'm not sure that this would warrant an entire video, but I'll outline my thoughts below to help you out. You would simply file IRS Form 1040-X and use either Line 25 (child dependent) or Line 27 (other dependents) to list the correct number of dependents. Enter the original number in Column A, the new number in Column C, then the difference in Column B. Below, you would simply list the dependents' name, Social Security number, relationship, and check the box if they qualify for the child tax credit or credit for other dependents.

@ ok so if I claimed 1 but it should’ve been 0 , should I list them in the area where they ask for there name and then not check the box for child tax credit or credit for other dependent ?

@@TheGalacticProphet-lf8bn I would enter '1' in Column A, (1) in Column B (indicating a negative number), and '0' in Column C. Since your new return has zero dependents, I would not list anyone as a dependent in the spaces provided.

@@teachmepersonalfinance Should I click on the check box for Schedule 8812 (Child Tax Credit) in Line 15 as I will showcase the correction there with 500 in Column A then (500) in Column B then 0 in Column C. Does checking off the Schedule 8812 seem right or should I just leave it blank?

@@TheGalacticProphet-lf8bn The first scenario sounds right, if you're looking to correct a tax credit that you shouldn't have claimed.

If you're not appointing a third party to represent you, then I would leave the appointee field blank. If you're a green card holder, the instructions state the following: If you are a resident alien with lawful permanent resident status who recently arrived in the United States and you have not yet filed a U.S. income tax return, you should provide a copy of your current Form I-551. Instead of a copy of your green card, you can attach a statement from U.S. Citizenship and Immigration Services (USCIS) that gives your alien registration number, the date and port of entry, date of birth, and classification. With those things said, the last lines of questions make no sense at all. Are you trying to claim money back from the U.S. government? That's not the intent of this tax form.

@@teachmepersonalfinance hi, thank you for your answer! As far as being a green card holder - I did file my 2023 tax return, and it seems like the quote was meant for someone who didn't file previous taxes? I need to receive a grant from a foreign country (Israel) and they asked for the form, before they pay me, to see that I am actually a resident of the US, and will pay my taxes for the grant in the US. Is it possible to file after December 1st, requesting a form for 2025 (on line 7) and doing that based on my 2023 tax return? (since my 2024 tex return is not due yet)?

@@BenSimone Now I understand. You are correct...I get a lot of questions and comments from people who are trying to find various ways to get the U.S. government to give them money without paying taxes. As for the residency certification, it seems that you've already read the section about not submitting *before* December 1 of the prior year for 2025. The other guidance that I would pay attention to is the following: *Form 8802 Filed Before Return Posted by the IRS* If your return has not been posted by the IRS by the time you file Form 8802, you will receive a request to provide a signed copy of your most recent return. If you recently filed your return, it may take less time to process your application if you include a copy of the income tax return with your Form 8802. Write “COPY - do not process” on the tax return. I highlight this because if this were my situation, I would take the precaution to submit a copy of my 2023 tax return and write 'COPY - do not process.' This might not make this go more quickly, but it should eliminate any (even the smallest chance) that this gets held up because the person processing your return is expecting your 2024 return to come in. I hope this helps.

I'd probably just list the old address.

IRS Form 8822-B or IRS Form 8822 should update the address for the tax record associated with the taxpayer identification number: www.irs.gov/faqs/irs-procedures/address-changes/address-changes. There is no official 'W-9' address that also needs to be updated. However, it does take about 4-6 weeks (according to the IRS) for the changes to be made. You can also change your address over the phone (see above link for details), if you need this to post sooner.

@teachmepersonalfinance thank you

If you've previously paid penalties for late tax payments, you should consider filing IRS Form 843. This is the correct form for requesting a penalty abatement. IRS Form 843, Claim for Refund and Request for Abatement Article: www.teachmepersonalfinance.com/irs-form-843-instructions/ Video: ua-cam.com/video/beGwgBS1YYI/v-deo.html

I'm not sure exactly what your question is. Are you asking whether your mother should sign IRS Form 4506-T so that she can request *her* own tax return? If that's the question, then she would sign the signature fields at the bottom of the form. If you intended to ask a different question, could you please clarify?

I don't see anything in the form instructions or in the Internal Revenue Manual with a required response time. Do you have any documentation of any conversation with the bank to verify that they never issued a Form 1099-INT? If so, I would think about forwarding that to the IRS for consideration.

@@teachmepersonalfinance The IRS notification was in February of 2024 for tax year 2022. Since filing my response with documentation, I've received multiple 90 day extensions up to today. When contacting my bank (Chase) they point me to my "Tax Documents" for my account. Over the past 10 years there have been no tax documents because there has been no interest paid. Somehow, the IRS got an electronic interest notification from Chase. Because of this, I submitted the 2624 so they could request a 1099INT to prove their point. Thanks

@@brozbro It seems that you've done all the right things. Did you ever actually receive a notice that revised your tax bill? If so, have you contacted the IRS to see if they'll give you a copy of the Form 1099-INT that they 'received' from Chase? If they can't do that, and you've shown adequate records that you never received the form (and that you never should have received one), then they should drop this. What is the IRS' actual response when you discuss this with them?

@@teachmepersonalfinance I received the CP2000 in February. In that letter was a line showing JP Morgan and an interest amount along with an unidentifiable series of numbers resembling account numbers; none of which applied to my account. I have repeatedly asked for a 1099INT copy and gave them the 2624 on October 1, 2024 to contact Chase to do so. While they "should drop this" if they cannot come up with the 1099INT, as you know, the IRS suffers no penalty for their delays..only the taxpayer. This is why I asked you if there was a time limit to conclude this. Otherwise, due to their delays, if they can produce the 1099INT, they are rewarded with my penalties.

@@brozbro I would continue to try and push this with the IRS. I would call the IRS number on your CP2000 notice (there should be one), but if not, I would also contact the Taxpayer Advocate Service for assistance. As long as you haven't been assessed with the additional tax (you shouldn't have been), then you're not subject to the tax penalty. But I would continue to keep pushing this until the matter is resolved.

I don't know enough about your tax situation to answer with certainty. I would suggest that you submit the Form W-4P, then evaluate your tax withholdings once they kick in to see whether you need to make adjustments.

@@teachmepersonalfinance can I ask you in this example you use the 12,900 is that still correct as I thought I saw it go to 29,000? or is that a different form I am thinking off (standard deduction)

@@Wiscwin1 I believe that the $12,900 is the most current number, based on the latest version of IRS Publication 15-T. I have not seen an update to revise that number.

For IRS Form W-4P, the IRS does not allow you to enter a flat percentage. If you're drawing money from an IRA or workplace retirement plan, you could. But not for a W-4P. What I would consider doing is to complete the form as accurately as possible, then take a look at your withholdings once they kick in (or have your retirement advisor do so). From there, you can make additional adjustments in Step 4c (extra withholdings) as needed.

I believe your second statement is correct. I cannot find anything that would give a tax credit for induction stoves. The only stoves that I see in the instructions are biomass stoves, which I don't think are the same thing.

Step 1: You add up the entire payroll. Let's imagine that you end up with $200,000 as your total payroll figure. Step 2: For each employee, you subtract $7,000 from that total. For example, if you had 3 employees, you would subtract $21,000 from that amount. In this example, that would be: $200,000 - $21,000 = $179,000. There's another example in our article: www.teachmepersonalfinance.com/irs-form-940-instructions/

I'm not sure which software you're using. However, my first guess would be that you could meet the criteria for not having to report on Form 8582. According to the instructions, you *don't have to use Form 8582* if all of the following are true: You *actively* participated in rental real estate activities, and you meet all of the following conditions: • Rental real estate activities with active participation were your only passive activities. • You have no prior year unallowed losses from these (or any other passive) activities. • Your total loss from the rental real estate activities wasn’t more than $25,000 ($12,500 if married filing separately). • If you’re married filing separately, you lived apart from your spouse all year. • You have no current or prior year unallowed credits from a passive activity. • Your modified adjusted gross income (see the instructions for line 6, later) was not more than $100,000 (not more than $50,000 if married filing separately). • You don’t hold any interest in a rental real estate activity as a limited partner or as a beneficiary of an estate or a trust

Generally, the IRS limits electronic signatures to certain forms. IRS Form 56 does not appear on this list of accepted forms: www.irs.gov/newsroom/details-on-using-e-signatures-for-certain-forms

I don't think the IRS offers this.

I don't believe the instructions say to subtract negative numbers. However, it's also easy to get lost in the calculations as described in the instructions. To use your example, you should *add* all numbers. Since you're adding the negative numbers (in parentheses), then you'll arrive at the correct answer. In your case, it would be (700), not +300.

@teachmepersonalfinance So, I did it correctly then. Thank you so much! 🙂 But seriously, they do say to subtract negative amounts, haha. Here's the instructions, literally copied and pasted 👇🏾 *2 Totals.* Add the amounts in columns (d), (e), (g), and (h) (subtract negative amounts). Enter each total here and include on your Schedule D, line 8b (if Box D above is checked), line 9 (if Box E above is checked), or line 10 (if Box F above is checked)

Again, thanks for the help!

Here's what I've done for Form 1099-A. IRS Form 1099-A, Acquisition or Abandonment of Secured Property Article: www.teachmepersonalfinance.com/irs-form-1099-a-instructions/ Video: ua-cam.com/video/YQQsmhtZ2mg/v-deo.html

​@@teachmepersonalfinance What about 3949a.

@@AltarEdO.o Here's the article and video link: Article: www.teachmepersonalfinance.com/irs-form-3949-a-instructions/ Video: ua-cam.com/video/xUpOUPWhfiw/v-deo.html

I can't answer that question directly, because there is a lot of missing information that goes into the withholding instructions, and it would not be worth the effort to really try. If you'd like, you can navigate the instructions for Worksheet 1B. Payer’s Worksheet for Figuring Withholding From Periodic Pension or Annuity Payments, located in IRS Publication 15-T: www.irs.gov/pub/irs-pdf/p15t.pdf. That's probably not something that anyone wants to do (not even the people that have to actually process the W-4P forms), so here's another way to approach this. 1. Submit a blank form and let the company process it. 2. Once the tax withholdings take effect, then run the calculations to see if you need to resubmit with additional withholdings. Or you can use the tax withholdings to update your tax projection, then make your adjustments based on where you think you'll end up (you'll probably want to wait until the end of the year and do this tax projection for the following year). Here are a couple of ways to run the tax projection: 1. Use the tax estimator on the IRS website. Here's a video tutorial that walks you through it: ua-cam.com/video/zXA4ut_OTzU/v-deo.html 2. Use the tax calculation worksheet for IRS Form 1040-ES (my preferred method): IRS Form 1040-ES, Estimated Tax Voucher Article: www.teachmepersonalfinance.com/irs-form-1040-es-instructions/ Video: ua-cam.com/video/MqA_0OX9kxI/v-deo.html

@@teachmepersonalfinance Thanks.. today I take flat 20% and last 4 years get the same amount back I then pay state taxes out of what I get from return and still have about 4-5K left. I asked to change from 20 to 18 and that is why I have to do a new 4P form.. so you would not think it too hard but.. thanks for the info I will research. or just say screw it and leave as is.

@@Wiscwin1 I understand. It's not obvious. Without knowing the specifics of your tax situation, I would offer this as an alternative to leaving the form blank. Take a look at Step 3 (Claim Dependent and Other Credits), and Step 4b (Deductions other than the Standard Deduction). If your concern is that leaving a blank form causes *overwithholding,* then this appears to be inconsistent with what I've seen from other readers/viewers. Their concern usually means that they have to apply *additional withholding* on Step 4c. What I would look at is what you claimed on last year's (or what you will claim on this year's) tax return, in terms of tax credits. Specifically: -Child tax credit or other dependents credit (reported on Schedule 8812-see links below) -Miscellaneous credits, such as foreign tax credit (IRS Form 1116), and education credits (IRS Form 8863). However, this is not limited to these, so take a look at your tax return to make sure you're accounting for *all* tax credits that you're taking throughout the year. A good checklist comes from Schedule 3, Additional Credits and Payments. If there's nothing obvious in the tax credits, then look to see if your tax return includes Schedule A (Itemized Deductions). If you file Schedule A, then there is a worksheet in the form instructions that you can use to determine the amount you enter in Line 4b. All of this might not be perfect. In fact, it might not even apply to your situation. But I'd double check all of these things to be sure. And if you did, and it's still not right, then that might be worth leaving alone. Below are links to resources on all the forms and schedules I mentioned above. IRS Schedule 8812, Child Tax Credit or Credit for Other Dependents Article: www.teachmepersonalfinance.com/schedule-8812-instructions/ Video: ua-cam.com/video/g-BklQfU_gI/v-deo.html IRS Schedule 3, Additional Credits & Payments Article: www.teachmepersonalfinance.com/irs-schedule-3-instructions/ Video: ua-cam.com/video/mh4XzSzrNeM/v-deo.html IRS Schedule A, Itemized Deductions Article: www.teachmepersonalfinance.com/irs-schedule-a-instructions/ Video: ua-cam.com/video/-7YUwQ6Q1LI/v-deo.html Playlist: ua-cam.com/play/PLYHzJrFFCrpy1rgmUyp_4JMBnBvphyqB6.html IRS Form 1116, Foreign Tax Credit Article: www.teachmepersonalfinance.com/irs-form-1116-instructions/ Video: ua-cam.com/video/PHHWbiB8LpY/v-deo.html IRS Form 8863, Education Credits Article: www.teachmepersonalfinance.com/irs-form-8863-instructions/ Video: ua-cam.com/video/ZHw6UqA4l0c/v-deo.html

With a QDRO, you could transfer money penalty free into a Roth IRA account. However, if it's from a pre-tax account (such as a traditional 401k or 403b plan), then you would pay taxes on the transfer, just like you would with a Roth conversion. In other words, a QDRO could make this a penalty free, but not a tax free event.

@ thanks very much.

My guess is no, but I would also ask the SSA to see if there's anything that would indicate yes. Here's why I don't believe you would be entitled to his SSDI benefits. According to the SSA, if you’re divorced, you can receive benefits based on your ex-spouse’s work if: • Your marriage lasted 10 years or longer. • You’re unmarried. • You’re age 62 or older. • The benefit you’re entitled to receive based on your own work is less than the benefits you’d receive based on your spouse’s work. • Your ex-spouse is entitled to Social Security retirement or disability benefits. This guide, titled "What Every Woman Should Know," is a pretty good resource for SSA benefits information. www.ssa.gov/pubs/EN-05-10127.pdf However, I don't see any clear guidance regarding SSDI, and whether the 10-year marriage requirement specifically applies to it (although the booklet alludes to it). It's a long shot, but it's a question worth asking to see whether they can give you a reference that specifically precludes you from claiming your ex spouse's SSDI.

I'd have to take a closer look at your paperwork, but generally, if you've defaulted on your loan, that means that the loan company believes you've failed in your loan obligations. They may very well try to take certain steps to make collections on your loan. This could mean any (or all) of the following: -Garnishing wages -Garnishing a tax refund through the Department of Treasury's Treasury Offset Program -Reporting your debt to credit agencies Here is a link from the Consumer Financial Protection Bureau website (CFPB), which is part of the federal government: www.consumerfinance.gov/ask-cfpb/what-happens-if-i-default-on-a-federal-student-loan-en-663/ Here's an article about the Treasury Offset Program and how it works: www.teachmepersonalfinance.com/tax-topic-203/

In short, it's too late to file this normally, without seeking relief for late filings (which you can do). According to the form instructions, you can file this form under one of two normal conditions: • No more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or • At any time during the tax year preceding the tax year it is to take effect. For 2024, this would be any time on or before March 15, 2024. You can request late election relief, if you meet certain criteria, which you can find in the form instructions.

@@teachmepersonalfinance Sure. Thank you for clarifying.

Have you called the IRS to go over your tax account? That might be the first step to take to better understand why the IRS is doing this.

According to the IRS instructions, entities that are in the business of lending money must file IRS Form 1099-C if they cancel debt of $600 or more. Credit unions are specifically mentioned in the form instructions, even though they operate under slightly different rules than most financial institutions: mycreditunion.gov/about-credit-unions/credit-union-different-than-a-bank Corporations can also be required to file this form if they are in the business of lending money and meet the requirements. Most of the largest financial institutions in the world are classified as corporations.

I believe that you're asking where to file this form if your old address was outside the United States. In this situation, you would send the form to the following IRS location: Internal Revenue Service Ogden, UT 84201-0023 If this is not the question you intended, please clarify your question.

You can fill this form out. Since you're not a paid tax preparer, you don't need to have a PTIN. A CAF number is assigned by the IRS, so this only pertains to people form whom an authorization is on file. You can enter your SSN, and select option (f) in Part II.

You should update Line 7, which is the physical business address. You can fill in the other fields as a CYA, but you probably don't need to. Since the form instructions do not contain any fax information, I don't believe that faxing your change of address form is an option here.

You might want to follow up with the IRS to see what's going on with your return.

You can use this form to request Form 1098 series forms for up to 10 years.

This appears to be a unique situation that you'd want to clarify with the IRS. Generally speaking, there are default rules in place stating that a single-member LLC is *disregarded* as a separate entity from its owner. In other words, if you were the owner of a single-member LLC, then the IRS would treat you and the LLC as the same tax entity, not separately. But if you previously elected a partnership, then the situation might be different. So you might need to clarify with the IRS what your current status its. From there, you would have a better idea of whether you need to change your current election using this form.

I cannot answer that question. You should ask the payer.

What do you mean by this? If you're asking whether using IRS Form 1040-V to make tax payments actually works as intended, then I would say that I've successfully used this with clients in the past.

My pleasure!

You would need to ask your church this question. The IRS instructions do not specify who is authorized to sign on behalf of the church or religious order.