Category Archives: Statute of Limitations

He Who Hesitates is Lost

Today TaxMama® hears from several people in the TaxQuips Forum with questions about expired refunds. Let me summarize.  “I faced a hardship and didn’t file tax returns for several years. Now, I learn that I cannot get my refunds for all those years. Can you help?” Dear Friends and Family, My answers to Dustin and […]

Net Operating Losses

Today TaxMama® hears from Jean in the TaxQuips Forum, with this problem. “I have a client that hasn’t filed his personal tax returns for 8 years. He is currently under audit, and I am preparing the returns. Can I carryback net operating losses (NOLs) from 2012 to 2010, and forward from 2009 to 2010? Since […]

Very Late 1099

Today TaxMama® hears from BigDog in the TaxQuips Forum, with an odd occurrence. “I received a 1099 for 2006 on 04/01/2013. This 1099 is from an old employer, who has in the past accused me of receiving more money than I earned. However I did file a 2006 tax return. Is there a statute of […]

Unclear on the Concept

Today TaxMama hears from Cliff in the TaxQuips Forum, who dropped the ball. “Filing your income tax return is due April 15th, or with an extension, 10/15. However, the instructions also say that you have three years (plus any extension) to file a claim for any refund due. Which rule takes precedence?  The IRS cannot […]

TaxMama’s Tax Roundtable – March 2011 Session

March 17, 2011 TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. REPLAY today’s session below – you can listen and SEE the session and forms.

Tax Advice From Friends

Today TaxMama hears from Tim in the TaxQuips Forum. He tells us. “I’m a career military guy and bought a house in 1994. In 1996 we were transferred and turned the property into a rental house. Over the first few years of this period I depreciated the home; but stopped in 2002 on the advice […]