Form 1040 Archives - Page 3 of 7 - FREE Yourself from IRS Problems

Shamsey Oloko February 22, 2017 Filing Status, Form 1040, Form 8965 0

Form 1040, Line 61 And Non-Resident Taxpayers

Like resident taxpayers, U.S. taxpayers living abroad must complete Line 61 under “Other Taxes” and “Health care: individual responsibility” on their Form 1040 or equivalent. For 2016, the IRS will not consider a return complete and accurate if the taxpayer…

Shamsey Oloko May 5, 2016 FATCA, FBAR, Filing Status, Foreign Financial Account, Form 1040, Income Tax, Representation, Tax Evasion, Taxable Income 0

Increased Compliance – Record High Fbars Were Filed In 2015

Do you live abroad? Do you own an asset or bank or investment account that had an accumulated value or total exceeding $10,000 at any time in 2015 (or any year)? If so, you are required to file a Report…

Shamsey Oloko April 11, 2016 Audit, Business Expenses, Capital Gains, Capital Losses, Deductions, Form 1040, Gains & Losses, Income Tax, Representation 0

Real Estate Loss Deduction for Individuals

In the last ten years, too many taxpayers have sold real estate at a loss. How does this type of loss ultimately affect the amount of taxes owed to the IRS? First, to accurately determine the amount of a loss…