Category Archives: IRS Forms

Consultant or Employee

Today TaxMama hears from Al from Monsey, NY wants to know, “If I am married and filing jointly; as a PC Programmer, should I get paid as an employee, with a W-2 or should I become a consultant and just freelance?”

What IS Back Up Withholding, Anyway?

Today TaxMama hears from Janet in Anaheim, CA who is perplexed. “My husband’s business received a notice from the IRS. It said that a contractor’s taxpayer ID number on the 1099s we filed last year is incorrect. Now, IRS says I have to file a notice to the contractor within 15 days. But, this guy […]

Late Filed Refunds

Today Barry from Richmond, VA is upset because he got a letter from IRS refusing to give him his refunds. “Is there any way to file for and get tax refunds for years that are past the ‘3 year refund limit’?”

Becoming an S-Corp

Today Julie from Mountain View, CA says, “I’m just launching a new business. After talking to an attorney, I decided I wanted to be an S-corp. I incorporated on May 12, 2005. When I read the instructions for Form 2553 (Election by a Small Business Corporation), it stated that unless I filed for an S-corp. […]