Your tax questions answered
We know it's frustrating, so the FOX 5 I-Team's Dana Fowle takes your questions to Bill Nemeth, an enrolled agent who is our local expert. He often fights on behalf of taxpayers who are up against the IRS.
A lot of your questions this year concern the Affordable Care Act. Mr. Nemeth addresses your responsibilities to report your insurance coverage status, and whether the IRS views child support as income.
Here's how to get the 1095-A form you will need for ACA: https://www.healthcare.gov/taxes/marketplace-health-plan/
A few things to jot down before you watch the Q&A. Here is the IRS's Identity Theft hotline: 1-800-908-4490. And to learn more about the ID theft PIN program click here.
It's all about the dependents:
So many of your tax questions this year are about how to claim dependents. Who is a dependent? How long can certain dependents be claimed? Bill Nemeth, an enrolled agent, answers a range of questions about how to claim dependents.
And here are some helpful links as you navigate your return:
www.irs.gov/uac/Six-Important-Facts-about-Dependents-and-Exemptions-1
Monday February 23:
This is a guide to help employers navigate through the Affordable Care Act. Check out this ACA Employer Mandate Quick Reference Guide: http://ftpcontent3.worldnow.com/waga/documents/2015-ACA-Employer-Mandate-Quick-Reference-Guide1.pdf
Here is information on who you can claim as a dependent: http://www.irs.gov/uac/Who-Can-I-Claim-as-a-Dependent%3F
And finally, here is the toll-free number to call the IRS if you need to get copies of previous years' tax information: 1-800-829-1040.
Monday March 3:
As we inch toward the April 15th tax filing deadline, your questions for our tax expert keep rolling in. Today we get started with a question about the ad valorem tax. It's the one-time tax applied to vehicles purchased on or after March 1, 2013.
After you watch the full report, check out more information on IRAs:
http://ftpcontent3.worldnow.com/waga/documents/Individual%20Income%20Tax%20Booklet.pdf
Monday March 9:
The IRS gets so many complaints of ID theft that it's started an ID theft pilot program that's available to Georgians. Here's how to get your own personal identification number to protect your good name.
After watching this report, check out these additional links for more information.
http://www.irs.gov/Individuals/Electronic-Filing-PIN-Request
http://www.irs.gov/uac/Authorized-IRS-e-file-Providers-for-Individuals
Monday March 30:
ID theft is a big topic of conversation for taxpayers and for the IRS. Heads up if some of you get a 5071C letter. It means your return has been flagged by the IRS possibly for fraud. We tell you what steps to take.
And here is the link for getting in on a free, 45-minute webinar offered by the IRS. Tuesday, March 31 at 2 p.m. join "Ten Things to Ask Your Accountant." The webcast will offer advice on picking a business accountant and touching on seven deductions you should be taking. It will also include a live Q&A session with IRS personnel.
http://www.visualwebcaster.com/event.asp?id=101754
Monday April 13: Can't make April 15 deadline? You have some choices.
The tax filing deadline is Wednesday, April 15th. But as we know, life gets in the way and sometimes deadlines are missed.
Here are some options:
- File but send in your payment later: 5% penalty for failure to file.
- Can't get it get it together at all? File the Form 4868 Extension.
- If you're payment is late, pay Georgia before the IRS.
Hop over to the video to hear the details from enrolled agent Bill Nemeth. We want to thank him and his staff at Tax Audit Guardian for their help this taxing filing season.
Here is a link to IRS tips for filing late: http://www.irs.gov/uac/Newsroom/Tax-Time-Guide:-Automatic-Tax-Filing-Extensions-Now-Available