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Home > Author Archives: Jim Buttonnow (page 3)

Author Archives: Jim Buttonnow

Jim Buttonnow
Jim Buttonow, CPA/CITP, is cofounder of Beyond415. He has more than 26 years of experience in IRS practice and procedure. Reach Jim at [email protected].

Is There a Tax Penalty for Filing Jointly? – Kathy

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“Dear Jim, im about to be married my fiance wants to know if there is a tax penalty when you file married filing jointly Kathy” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here The Answer ... Read More »

I Can’t Pay My Estimated Quarterly Taxes. – Heather

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“Dear Jim, I’m a freelancer who recieves a 1099 and pays estimated quarterly taxes but last year I was unable to keep up with my payments due to medical bills and other hardships. I do not think I will have enough to pay my 2011 taxes owed by April 15th, as well as, paying my 1st quarter 2012 estimates. I ... Read More »

My Husband Passed Away. Can I File My Taxes as Single Now? – June

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“Dear Jim, my husband passed away we always filed jointly..can I file as being single this year? will I have to file his income tax…what is the best root to pursue? June” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat ... Read More »

My Company Has Lost Money For the Past 6 Years. What Will The IRS Think? – Wahi

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“Dear Jim, I’ve a fulltime job as an IT consultant. I also have a food distribution business as well. Your Question * My company has lost every year for the past 6 years, and this year too, I’m in a loss. Since it’s an ‘S’ corp, I’ve been posting the loss on my personal, which help me at least get ... Read More »

I Don’t Know if I Have to File Taxes Because I Was in School. – Jone

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“Dear Jim, I have always done my taxes my self, and I didn’t know if I had to file my taxes this year or not. In 2011 I was in school, but I was not working. I was collecting child support for my only income to live on. I received a W-2 from the school and it shows the money ... Read More »

Homebuyer Credit and Taxes. Do We Have to Pay the IRS? – Theresia

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“Dear Jim, We bought a house in 2008 and got the first time homebuyer credit of 7500$. We sold the house in 2009 due to expected military orders. (We ended up NOT getting military orders) We took a 14,000$ loss on the sale of the house. Last year we made an “installment” payment on the credit of 500$. This year ... Read More »

I Got a 1099-C On My House in Miami. How Do I Handle This? – Bill

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“Dear Jim, Paid $200,000 for second home in miami in 2006. Got a 1099c for $80,000. This is for 2010, and i have not filed 2010 taxes. Just an extension. still can’t figure out how to handle 2010 taxes which i have not yet filed. I think i am too old for all of this. I don’t have the short ... Read More »

Can My Father Sell His Home Without Paying Taxes? – Eva

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“Dear Jim, I am in charge of my dad’s property. My father 82 urs old, lives in Mexico and owns a 2 flat that he rents out here in the US , he has asked me to sell it. In order to take advantage of the 1 time tax free sale of a property for people over 65 does the ... Read More »

Can I Get Rid of Back Taxes in My Chapter 7 Bankruptcy? – Jacquelyn

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“Dear Jim, I am converting from chapter 13 to a chapter 7 and I have owed federal taxes in it they will work with me on it won’t they? Will they work with me to pay back my taxes? Jacquelyn” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads ... Read More »

My Mother-In-Law Moved From Puerto Rico to the U.S. Does She Need to File a U.S. Tax Return? – Amy

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“Dear Jim, My mother-in-law moved from Puerto Rico to the US and the only income she has is from a pension that she receives from a lifetime of teaching in PR. Even though she lives in the US, does she need to file a US tax return if she does not receive any US income? Amy” Don’t miss our free ... Read More »

The Virginia Department of Taxation is Taking All of My Pay. – Leslie

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“Dear Jim, I owe back taxes to the state of Virginia for ’06 and ’07. I neglected to pay only because I was dealing with a brain tumor. The VA Dept. of Taxation levied a garnishment of 100% of net. VA Dept. of Taxation uses federal tax exemptions not federal limits for garnishment. At least, that is what I am ... Read More »

I Owe the IRS. Will They Settle for a Lesser Amount in an Offer in Compromise or Do I Need an Attorney? – Diana

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“Dear Jim, I owe the IRS $26,000. There were some years I failed to file taxes and some years I filed and owed, but they said I never filed, I have the copies. I have all the information except one year. My question is will the IRS settle with me for a lesser amount or do I need to hire ... Read More »

Are the Monthly Fees I Paid for Debt Settlement Tax Deductible? – Susan

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“Dear Jim, I engaged Greensheild FS after loosing my job5/2009, due to @ 50, 000 in debt. I started paying their fee 7 2009. I was not able to get a copy of the the contract on line until two months before I found my account had been transferred to davenport law (@12 2010). Each month I was charged 330 ... Read More »

I Didn’t File Tax Returns for the Last Five Years But I Live on Very Little. What Do I Do? – Barb

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“Dear Jim, I am in my late 70′s and I have gotten neglectful and ill the last five years and did not file a return. I know I do not owe money since I usually owe them nothing(it is taken out) or very very little for many years. I am retired and live on about 10,000 a year. Do you ... Read More »

I Owe the IRS a Lot of Money and They’ve Put a Lien on Me. What Do I Do Now? – George

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“Dear Jim, I own IRS appx 40,000., 65,000, with penalties and interest in back taxes. IRS recently notified me of a lien for almost 40,000. I want to set up an installment plan with the irs over 5 years to pay all the monies due. I am a retired federal employee and make approx 90,000., a year I am currently ... Read More »

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