Has anyone tried using TaxSlayer? Their website says they offer "Ask a Tax Pro" service that sounds similar to what TaxAct used to have. Thinking about switching for next year.

I'm in the exact same boat as you! Been using TaxAct since 2020 and loved having that scheduled appointment where someone would walk through my entire return with me before filing. It was such a relief as someone who's not super confident with taxes. I noticed the change last year too and was really frustrated. What helped me was combining a few approaches: I used the new question system to ask about specific sections I was unsure about, but I also found a local Enrolled Agent who offers "review only" services for about $75. They'll go through your completed return and flag any issues before you file. It's annoying that we have to cobble together solutions now when TaxAct used to offer everything in one package, but at least there are still ways to get that expert review we need. The peace of mind is worth the extra step and cost for me.

As someone who works with veterans' benefits, I want to emphasize that your client's VA disability payments are protected from IRS garnishment - this is a huge advantage in their situation. The IRS cannot legally seize VA disability compensation to satisfy tax debt, which means their basic living income is secure while you work on resolving this. Given that they're living solely on VA disability, they should have a very strong case for an Offer in Compromise based on doubt as to collectibility. The IRS looks at reasonable collection potential, and for someone with protected income and minimal assets beyond their primary residence, this could realistically result in a settlement for 5-10% of the original debt. I'd also suggest contacting the Taxpayer Advocate Service - they have special procedures for cases involving disabled veterans and can often expedite resolution when normal IRS processes aren't working effectively. This is a free service that can really help navigate the bureaucracy.

I wanted to add something important that might help your client's case - make sure to document any medical expenses related to their disability when preparing the Offer in Compromise application. The IRS allows reasonable medical expenses as part of the necessary living expenses calculation, which can significantly reduce their ability-to-pay determination. For a veteran with permanent and total disability, ongoing medical costs (even if covered by VA healthcare) like transportation to medical appointments, prescription copays, medical equipment, or home modifications can all be factored in. This could further strengthen their case for a very low settlement amount. Also, if your client received any VA compensation increases or adjustments after 2022, make sure those aren't counted as "available income" in the OIC calculation, since VA disability ratings and payments are specifically for loss of earning capacity, not discretionary income.

Wait my bank sent me a 1099-INT for like $23 of interest for 2023... am i supposed to file a return just for that??? I had a w2 job too but only made like 8k so I didnt think I needed to file anything???

I'm glad you're being proactive about this! As others have mentioned, you're definitely under the filing threshold with just $135 in interest income, so you won't face any penalties from the IRS. One thing to consider though - even if you don't file for 2023, make sure you keep that 1099-INT document for your records. Sometimes the IRS receives copies of these forms and might send you a notice years later asking about unreported income. Having the documentation showing your total income was well below the filing threshold will help resolve any questions quickly. Also, since you mentioned you're still looking for work, you might want to file anyway if you think you'll have more complex tax situations in future years. Getting familiar with the process when stakes are low (like your current situation) can be helpful when you do have more substantial income to report. The good news is you have until April 2027 to decide whether to file a 2023 return, so no rush to figure it out immediately!

I went through this exact situation when my Canadian father passed away two years ago. A few additional points that might help: 1. **Provincial vs Federal Canadian taxes matter**: Since your parents are in Ontario, be aware that Ontario has its own probate fees and tax rules that can affect the inheritance. The provincial withholding taxes on RRSP distributions can vary significantly. 2. **Consider the timing of RRSP rollovers**: If one parent predeceases the other, RRSPs can often be rolled over tax-free to the surviving spouse's RRSP/RRIF. This could delay the tax hit until the second parent passes away, potentially giving you more time to plan. 3. **Currency exchange implications**: Don't forget about currency fluctuations between inheritance and when you actually receive/convert the funds. This can create additional gains or losses for U.S. tax purposes. 4. **Estate planning with a cross-border attorney**: I wish I had done this earlier - having both parents' wills reviewed by someone familiar with both tax systems can prevent a lot of headaches. Some structures that work great in Canada can create unnecessary U.S. tax complications. The good news is that with proper planning (which it sounds like you're doing!), most of these issues can be managed effectively. The key is getting professional advice while there's still time to make strategic decisions.

What is collecting inheritance from Canada the taxes name

Just to add a caution - I tried to do this "catch up" thing last year and ended up getting audited. The IRS flagged it because the sudden large depreciation deduction looked suspicious. Make sure you have excellent records of when you bought the property, improvement costs, etc. My audit went fine because I had everything documented, but it was still super stressful. Whatever method you choose, have your paperwork in order!

I went through this exact situation with a duplex I own. Missed depreciation for 2019 and 2020, then panicked when I realized my mistake. Here's what I learned after consulting with a CPA: You have two main options: 1) Amend the prior years if you're still within the 3-year window, or 2) File Form 3115 for an accounting method change to catch up all at once in your current year return. The Form 3115 route ended up being way less hassle for me. Yes, it's more complex than a regular form, but it saved me from filing multiple amended returns. I claimed about $8,000 in missed depreciation all in one year through the Section 481(a) adjustment. One tip - when you do catch up (either method), spread out your documentation clearly. I created a simple spreadsheet showing the property purchase date, cost basis, improvements, and calculated what depreciation should have been claimed each year. This made everything crystal clear for my records and would help if the IRS ever questions it. Don't let this mistake stress you out too much - it's more common than you'd think!