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I would recommend that you contact the SSA through the U.S. embassy in Manilla. Depending on your situation, there may be entitlements that you can miss if you try to do this on your own. Here is a link to a page with more contact information and resources: ph.usembassy.gov/services/social-security/

IRC Section 6404 applies to erroneous guidance given by the IRS, so that wouldn't apply. IRC Section 6651 is the code section that applies penalties for not paying. You probably would be best off by requesting abatement based upon reasonable cause (which may apply in your situation). If you meet the criteria for first-time abatement, then the IRS will use that as the reason to abate your penalties. The instructions state that unless you're responding to a notice, you should file Form 843 with the service center where you would normally file your tax return. Assuming that you file Form 1040, according to the Form 1040 instructions, there are two addresses that you could file (based on living in California), based on whether you're submitting a check with your return: Not submitting a check: Department of the Treasury Internal Revenue Service Ogden, UT 84201-0002 Submitting a check: Internal Revenue Service P.O. Box 802501 Cincinnati, OH 45280-2501 Unfortunately the instructions don't appear to make it any more clear than this. I'd probably call the IRS to get specific guidance on how to file.

You are correct! Thank you for pointing that out...I'll incorporate that into the next update!

Generally speaking, the person making the statement is the one expected to sign the statement. Usually, it's the claimant for Social Security benefits, but it could be another person.

This form can lead to a lot of confusion. It is an IRS form, and it's used for a variety of purposes, not just for SSA. That's probably why the SSA doesn't have a lot of guidance. To answer your other comment, the form goes to the SSA, since they have to process it to take taxes from your SSA payments. The reason Line 4 might be different from Line 2 is that there could be multiple people claiming SSA benefits on the same wage earner's record. For example, you could have an ex-spouse, current spouse, and minor children all as claimants, in addition to yourself. This chart helps understand which claim number belongs to which person (original wage earner, spouse, etc.): www.hud.gov/sites/documents/DOC_10855.PDF

@@teachmepersonalfinance Thanks for the reply and the link for the codes. This is all they had to do on the form, provide information on the codes. There is nothing on the W-4V explaining this, and as I mentioned, the employees at the SSA do not know either.

You can Google IRS Form 4506, search for it on the IRS website, or download it from the file in the article (see link in the show notes).

That’s a possibility. I wouldn’t be able to know for certain without being able to look at your tax situation.

Nothing in the form instructions requires filers to submit proof of their new address.

401k contributions are considered Social Security wages, according to the IRS: The amounts deferred under your 401(k) plan are reported on your Form W-2, Wage and Tax Statement. Although elective deferrals are not treated as current income for federal income tax purposes, they are included as wages subject to Social Security (FICA), Medicare, and federal unemployment taxes (FUTA). However, employer contributions would not be considered Social Security wages.

According to the IRS, I believe that you would still be considered a disregarded entity, if that's how you choose to be identified. Here's further guidance: Joint ownership of LLC by spouse in community property states Rev. Proc. 2002-69 addressed the issue of classification for an entity that is solely owned by husband and wife as community property under laws of a state, a foreign country or possession of the United States. If there is a qualified entity owned by a husband and wife as community property owners, and they treat the entity as a: -Disregarded entity for federal tax purposes, the Internal Revenue Service will accept the position that the entity is disregarded for federal tax purposes. -Partnership for federal tax purposes, the Internal Revenue Service will accept the position that the entity is partnership for federal tax purposes. A change in the reporting position will be treated for federal tax purposes as a conversion of the entity. A business entity is a qualified entity if; -The business entity is wholly owned by a husband and wife as community property under the laws of a state, a foreign country, or possession of the United States; -No person other than one or both spouses would be considered an owner for federal tax purposes; and -The business entity is not treated as a corporation under IRC §301.7701-2. Note: If an LLC is owned by husband and wife in a non-community property state, the LLC should file as a partnership. LLCs owned by a husband and wife are not eligible to be "qualified joint ventures" (which can elect not be treated as partnerships) because they are state law entities.

The IRS changed this form a few years ago to make tax withholdings more accurate. By listing your spouse's income, the payer is more likely to withhold the correct tax percentage, based upon your probably tax bracket. For example, if your spouse earns $300,000 per year, then your tax withholdings would probably be at a higher percentage (based on your tax bracket) than if you did not list that income at all.

If you originally requested a check, then you should enter 'Check' under Item 7, where it discusses the type of return, amount of refund, etc.

I'm not sure either of those references apply in this situation. Can you give me some more context on what you're trying to achieve?

I'm not exactly sure. Those are figures that the IRS incorporates into the worksheet to help taxpayers correctly calculate their capital gains tax liability based upon income.

@@teachmepersonalfinance Thank you.

I don't think the intention is to provide a secure way of sharing your SSN. This form is to give permission for the Social Security Administration to release information to a lender, or potential employer, or other organization for purposes of verifying your identity. This form is completely voluntary, and you don't need to complete it. However, this form is usually required when the applicant is requesting something from a third party, such as a job or a loan. If they cannot verify that you are who you say you are, then they don't need to approve whatever it is you're asking for.

You attach this form to your tax return and file it in the same place. If you file electronically, then this form should accompany the rest of your tax return. If you file by paper, then you would make the completed tax return based on the IRS Form 1040 instructions.

The super simple method would be to identify the areas where you use the farm (i.e. Line 1b indicates the nontaxable use of gasoline on a farm for farming purposes), then attach associated invoices showing the amount that you purchased/used during the year. The IRS doesn't specify exactly what you need to have documentation for, but you should make it clear that the documentation supports the number of gallons (and amount of tax credit) you're entitled to.

@teachmepersonalfinance thank you

If you're wondering whether sending paystubs without your full SSN would be appropriate, you would need to understand what the IRS is asking for, or what they're trying to determine. If the paystubs prove or indicate your income, then I'm sure they would be all right, with or without your SSN.

You do not need to have reached any minimum age to complete this form, since it's for the lump-sum benefit, not for ongoing survivor benefits.

You can complete the form online, as I did in the video. However, you must file the paper version..you cannot file it electronically.

Thank you! I'll republish the article and publish a new video today!

I see two scenarios here: -Your pension is higher than your wife's -Your wife's pension is higher than yours Here's how I would handle this form based on each situation: *Your pension is higher than your wife's* I would include your job income in Line 2(b)(i). Leave Line 2(b)(ii) blank. Go back to *your* Form W-4P and add your wife's pension to that form (and your job income, if you didn't enter that the first time around). This should help ensure that your withholdings are more accurate. *Your wife's pension is higher than yours* Include your job income in Line 2(b)(i). Enter your pension in Line 2(b)(ii).

@teachmepersonalfinance you are the best. I appreciate your advice. I definitely will subscribe to your you tube

@@teachmepersonalfinance with that being said yes, my pension is higher than my wife. So, on line 2 b (l) I should add my current income with my job now and pension on that line?

On your wife's W-4P, only enter the pension amount in Step 2b(i). On *your* W-4P, enter the earnings (from your job) amount in Step 2b(i) and your wife's pension amount in Step 2b(ii).

@@teachmepersonalfinance my wife will be receiving her first pension in January so we are just starting this process. This WP form is from her job. I know that I have to go into my pension account and pull the wp form to fill out. Just like I said my wife hasn't received her first pension yet until January 2025

If you claim on your ex-spouse's benefits now, then you might jeopardize your own full SSA benefits when you reach FRA. Unless you were born on January 2, 1954 or earlier, you cannot delay claiming your benefits when you claim a spouse's (or ex-spouse's benefits). In other words, you would file a simultaneous claim for your ex-spouse's benefits as well as your own, based on your current benefits (not your FRA benefits). The SSA will pay the higher of the two, but not both. This means that your benefits would become frozen. When I used to work with financial planning clients, if they were still working and had not reached FRA, I would almost always suggest that they hold off on filing for SSA benefits for as long as they can. Here are some SSA references, as well as a walkthrough so you can see this for yourself. However, before you file a claim, I would definitely sit down with the SSA and go over your options--this is potentially the largest financial decision you'll make. 5 Things Every Woman Should Know About Social Security www.ssa.gov/sf/FactSheets/WomenandSSrev1.pdf Check eligibility for Social Security benefits: www.ssa.gov/prepare/check-eligibility-for-benefits

You might want to determine whether you're still under the default rules. Generally speaking, the IRS will treat a single member LLC as a disregarded entity, which means that's your tax treatment unless you select otherwise. Without looking at your Form SS-4, I can't tell whether the IRS will assume that you're an LLC, but if you checked 'Yes' on Box 8a, and entered '1' as the number of LLC members on Box 8b, then the IRS will probably treat your LLC as a disregarded entity. In that case, you wouldn't have to complete Form 8832.

Was this correspondence labeled 'CP01A'? How to Understand Your CP01a Notice (Assignment of Identity Protection Personal ID Number): ua-cam.com/video/PWQHLiXlIQI/v-deo.html

You can do this. If your intention is to ensure that the excluded person no longer receives IRS correspondence, then that would be the correct approach.

@ Thanks a lot for your reply! Is that correct that amended annual report and this 8822-b form are the only things to be filed for removing one of 2 owners?

@@meerimdzhetybaeva143 I cannot attest to any state or legal requirements when it comes to change of ownership for a business entity. However, from the IRS perspective, filing Form 8822-B indicates the change of a responsible person, or the person that the IRS will associate with the business entity. For other legal requirements, you may need to check with your state or local business registration office.

Hi! Can you please kindly tell how to find out if this form mailed to the IRS was accepted by them? Because calling to the number they mentioned for businesses didn’t give any results, no one who picked up the phone could help…

@@meerimdzhetybaeva143 Probably the most reliable way is to simply check your IRS online account to see if the address on file has changed. The IRS says that it takes between 4 and 6 weeks for them to process the change of address, so you probably want to account for this as well.

I don't see a reason why a taxpayer would use IRS Form 8949 to report bank deposits. Could you give me some more context about what you're trying to accomplish?

For this worksheet, rental property losses are not included, unless you're talking about a capital loss from the sale of a rental property.

@@teachmepersonalfinance I think I understand, Line 1 asks for AGI minus the Itemized or Standard Deduction (whichever one was used). Rental Income is recorded on Sched E and affects AGI so it is already accounted for in line 1. Right?

@@actmyage That's correct.

I'm not sure that you'd go very far if you report your owner to the IRS. However, if you happen to have details related to their tax situation that the IRS would be interested in investigating, then you might have something there. Otherwise, I'd probably report this to the appropriate state or local housing authority.

I'm not sure what you mean. Most people would expect to *receive* a Form 1099 from the reporting institution (such as a brokerage firm, or the company that paid him or her). Can you clarify your question with what you're trying to accomplish?

@@teachmepersonalfinance what happens when you receive one of these 1099-B forms but from Cashapp for bitcoin? The one I was sent is like the one in your video but some boxes aren’t filled out. Do I fill them out or are they supposed to be like that, or does the tax accountant fill them up?

@@web-headsassemble9415 You should not complete any of the information fields if they're blank. This information is also being reported to the IRS, so you are better off simply reporting the information as indicated on your tax return.

I don't think that I can answer this question without knowing your entire tax situation. This would include basis information about the property being traded, the like-kind transaction that was performed, depreciation history, and the type of property involved. If you're discussing real estate transactions, there are also additional questions about whether the exchange meets the nonrecognition rules. I would recommend discussing this question (with specifics) with a tax professional instead of trying to report this yourself.

Thank you for the suggestion! I'll see how i can incorporate this into future videos!

According to the IRS, you’re only responsible for taxes on income as you earn it. So if you did a Roth conversion in December, then you would not be responsible for any interest or penalties before the Roth conversion.

I'm not sure that I can answer this question properly without knowing how you pay yourself throughout the tax year. Pay stubs are generally considered a payroll function, which the IRS doesn't really dictate. However, it seems that the financial aid department is looking for proof of income, which should be available in different ways, if you don't pay yourself a regular salary. I would consider contacting the financial aid department to see whether your Schedule C (which reports your total income for the year) would suffice, or if there is another way that you can verify your income to their satisfaction.

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I’m not sure what you’re asking. What are you trying to do?