Author Topic: any accountants out there that i can ask a question?  (Read 319215 times)

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2020 on: July 14, 2021, 07:48:48 PM »
thanks
expecting a large refund, which that link is showing as pending (since Apr). wouldn't want to jeopardize that
That's a long time to be pending. Did you call the IRS and ask about it?

Online gozalim

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Re: any accountants out there that i can ask a question?
« Reply #2021 on: July 14, 2021, 07:54:31 PM »
That's a long time to be pending. Did you call the IRS and ask about it?
seems like it's pretty common for people who filed before the 'system update' at beginning of May. see https://forums.dansdeals.com/index.php?topic=124962.0
I got state very quickly, waiting on IRS

isn't it impossible to get anyone on the phone there? and they'll be able to tell me anything?

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2022 on: July 15, 2021, 05:15:37 AM »
seems like it's pretty common for people who filed before the 'system update' at beginning of May. see https://forums.dansdeals.com/index.php?topic=124962.0
I got state very quickly, waiting on IRS

isn't it impossible to get anyone on the phone there? and they'll be able to tell me anything?
Did you have unemployment pay.
Call at exactly 7:00 am.

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Re: any accountants out there that i can ask a question?
« Reply #2023 on: July 15, 2021, 09:06:16 AM »
Did you have unemployment pay.
Call at exactly 7:00 am.
no UI, some child stimulus updates.
Calling will accomplish something? Or if I wait it won't resolve itself soon?

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2024 on: July 15, 2021, 11:42:54 AM »
no UI, some child stimulus updates.
Calling will accomplish something? Or if I wait it won't resolve itself soon?
Sometimes you need to get someone to give it a push to the next stage. It's also possible they sent you a letter for you to respond to but it got lost in the mail.

Offline Sammy82

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Re: any accountants out there that i can ask a question?
« Reply #2025 on: July 15, 2021, 11:48:56 PM »
Sometimes you need to get someone to give it a push to the next stage. It's also possible they sent you a letter for you to respond to but it got lost in the mail.
What's the number to call @ 7:00?

Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #2026 on: July 16, 2021, 12:01:57 AM »
Is there a way a non-profit can not pay FICA?
If they don't pay it, is the employee supposed to pay it?


40 years ago the non-profit I worked for didn't pay it, but I don't know if it was legal then and I don't know if it's legal now. 

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Re: any accountants out there that i can ask a question?
« Reply #2027 on: July 16, 2021, 12:33:31 AM »
Is there a way a non-profit can not pay FICA?
If they don't pay it, is the employee supposed to pay it?


40 years ago the non-profit I worked for didn't pay it, but I don't know if it was legal then and I don't know if it's legal now. 
probably refers to this
https://www.irs.gov/charities-non-profits/churches-religious-organizations/elective-fica-exemption-churches-and-church-controlled-organizations
I think once you elect to skip, you can't switch back
consult your accountant before doing this

Online yitzgar

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Re: any accountants out there that i can ask a question?
« Reply #2028 on: July 16, 2021, 12:36:04 AM »
Employees have to pay seca

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Re: any accountants out there that i can ask a question?
« Reply #2029 on: July 16, 2021, 12:39:40 AM »
unless employee shares that same belief and opts out the same way

Offline davidd75

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Re: any accountants out there that i can ask a question?
« Reply #2030 on: July 16, 2021, 09:10:03 AM »
what line number should I look at on my 1040 return to determine how much taxes I owed for the purpose of offsetting that amount with non-refundable credits?
what if I paid my taxes during the year on a regular basis does that matter?

anybody with some insight on this?

Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #2031 on: July 16, 2021, 09:52:07 AM »

anybody with some insight on this?
Non-accountant here.
The last line on the 1st side of the 1040 has your total taxable income.

It looks to me that your tax is the first line of the 2nd page - line 16.
Then it goes on to list your credits, amounts already paid, etc.

So probably line 16 is what you're looking for.




Offline davidd75

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Re: any accountants out there that i can ask a question?
« Reply #2032 on: July 16, 2021, 02:52:55 PM »
Non-accountant here.
The last line on the 1st side of the 1040 has your total taxable income.

It looks to me that your tax is the first line of the 2nd page - line 16.
Then it goes on to list your credits, amounts already paid, etc.

So probably line 16 is what you're looking for.

thanks! sounds right I think that's the line I would use to determine if I can benefit from non-refundable credits for example $7500 tax credit for electric car etc...?

Offline davidd75

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Re: any accountants out there that i can ask a question?
« Reply #2033 on: July 22, 2021, 10:52:59 AM »
Parents live in the US and want to move to Israel and buy house in Israel but get tagged with a approx 25% capital gains tax in Israel if they still own house in the US.  Any legal way to shield that house in the USA besides transferring ownership to another(as that would require the another to perhaps owe taxes on the rental income)?

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2034 on: July 23, 2021, 03:40:33 AM »
Parents live in the US and want to move to Israel and buy house in Israel but get tagged with a approx 25% capital gains tax in Israel if they still own house in the US.  Any legal way to shield that house in the USA besides transferring ownership to another(as that would require the another to perhaps owe taxes on the rental income)?
They would probably be exempt from Israeli tax under the 10-year exemption on passive foreign income for new olim. Check with an Israeli accountant.

Offline davidd75

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Re: any accountants out there that i can ask a question?
« Reply #2035 on: July 23, 2021, 09:40:09 AM »
They would probably be exempt from Israeli tax under the 10-year exemption on passive foreign income for new olim. Check with an Israeli accountant.

they are Israeli citizens who have lived in Israel before but have been living in the US since 1983.  can you elaborate more on this 10 year exemption for new olim?
« Last Edit: July 23, 2021, 10:51:29 AM by davidd75 »

Offline Mf1

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Re: any accountants out there that i can ask a question?
« Reply #2036 on: July 25, 2021, 07:35:39 AM »
Anyone aware of a heimeshe accountant who had experience helping us citizens overseas file taxes ( to assist them in getting the stimuluses that they missed)?

Offline davidd75

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Re: any accountants out there that i can ask a question?
« Reply #2037 on: July 25, 2021, 05:09:20 PM »
They would probably be exempt from Israeli tax under the 10-year exemption on passive foreign income for new olim. Check with an Israeli accountant.

their issue is more with the Israeli 25% capital gains tax on purchasing a house in Israel if they own property in the USA not foreign income?

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2038 on: July 26, 2021, 03:37:59 AM »
Anyone aware of a heimeshe accountant who had experience helping us citizens overseas file taxes ( to assist them in getting the stimuluses that they missed)?
You can PM me.

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Re: any accountants out there that i can ask a question?
« Reply #2039 on: July 27, 2021, 12:41:56 AM »
Yes.
If you were not expecting a refund then you can go to https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp and put $1 as refund amount to get a status update.
can I amend 2019 while 2020 refund is still pending?