Month: April 2023

How to Claim Dependents on Your W-4 Form? A Step-by-Step Guide?

The IRS introduced several changes to Form W-4 in 2020 and 2023. One of…

IRS Code 409: What Does it Mean on IRS Transcript?

IRS Code 409 refers to Section 409 of the IRC, which defines the requirements…

Can I Withdraw My Contributions From a Roth IRA Without a Penalty?

Yes, you can withdraw your contributions from a Roth IRA without penalty (or taxes)…

IRS Code 776: What Does it Mean on IRS Transcript?

The overall yearly amount you pay for federal taxes is subject to interest, whether…

IRS Code 1031: What Does it Mean on IRS Transcript?

All gains you earn from selling properties are taxable, and as such, you must…

IRS Code 977: What Does it Mean on IRS Transcript?

Filing an amended tax return involves going through several preparatory stages before you can…

IRS Code 571: What Does it Mean on IRS Transcript?

Requests for additional account reviews often delay the processing of tax returns. The IRS…

IRC Section 3401: What Are 3401(a) Wages?

Retirement plans can be a significant factor that prompts employees to commit to organizations…

How to Catch Up Depreciation on Rental Property

A few weeks ago, a husband-and-wife team of real estate investors came to my…