IRS

Can't reach IRS? Claimyr calls for you, so you don't have to wait on hold.

Claimyr is a pay-as-you-go service. We do not charge a recurring subscription.

Using Claimyr will:

  • Connect you to a human agent at the IRS
  • Skip the long phone menu
  • Call the correct department
  • Redial until on hold
  • Forward a call to your phone with reduced hold time
  • Give you free callbacks if the IRS drops your call
Fox KTVUABC 7CBSSan Francisco Chronicle


Ask the community...

  • DO post questions about your issues.
  • DO answer questions and support each other.
  • DO post tips & tricks to help folks.
  • DO NOT post call problems here - there is a support tab at the top for that :)

Jabari-Jo

•

21 Be careful if you're planning to take 100% bonus depreciation - it's being phased out. For property placed in service in 2025, the bonus depreciation percentage is down to 60% (not 100%). It drops to 40% in 2026, 20% in 2027, and then goes away completely unless Congress extends it. Section 179 is still available at full amounts though, so that might be your better option anyway. Just make sure you're working with current tax law!

0 coins

Jabari-Jo

•

16 Is this accurate? I thought 100% bonus depreciation was extended in that last tax bill? My accountant mentioned something about this changing.

0 coins

Jabari-Jo

•

21 You're right to question this - there has been discussion about extending 100% bonus depreciation, but as of now, the law still has it phasing down. The Tax Cuts and Jobs Act originally set up the phase-out schedule I mentioned. Some proposed legislation would extend the 100% bonus depreciation, but it hasn't passed yet. This is why it's always good to double-check with your tax professional right before filing, as tax laws can change. If you're making vehicle purchasing decisions now for tax planning, you might want to consider Section 179 since those limits are more stable.

0 coins

Jabari-Jo

•

2 Don't forget that if you take Section 179 or bonus depreciation and then sell the vehicle or reduce business use below 50% before the end of its recovery period, you'll face recapture provisions where you have to report as income a portion of the deduction you took. This bit me hard when I sold my business truck after only 3 years.

0 coins

Jabari-Jo

•

9 How exactly does the recapture work? I might sell my business vehicle next year - what should I expect?

0 coins

Ally Tailer

•

Section 179 recapture can be painful if you're not prepared for it. Basically, if you sell the vehicle or drop business use below 50% within the recovery period (usually 5 years for vehicles), you have to "recapture" part of the deduction as ordinary income. The recapture amount is the difference between what you deducted under Section 179 and what you would have been allowed to deduct using regular MACRS depreciation up to that point. So if you took a $50,000 Section 179 deduction but would have only been allowed $15,000 in regular depreciation over 3 years, you'd have to report $35,000 as recapture income. This gets reported on Form 4797 and is taxed as ordinary income, not capital gains. It's why some tax professionals recommend being conservative with Section 179 if you think you might sell the asset relatively soon.

0 coins

Zoe Stavros

•

Be SUPER careful with ERTC claims right now! The IRS has been cracking down hard on what they consider "improper" claims. My business partner's company had their claim audited and they're now fighting penalties. Make sure you're actually eligible and have solid documentation.

0 coins

Jamal Harris

•

What kind of documentation did your partner's company lack? I'm worried now because I used one of those ERTC specialist companies that promised they could get me qualified.

0 coins

I'm going through the exact same situation right now - filed my ERTC claim in February and it's been radio silence from the IRS ever since. The uncertainty is killing me because my business really needs that cash flow. From what I'm reading here, it sounds like the 6-9 month timeline that Luca mentioned is pretty accurate, which means I've still got several months to go. The lack of communication from the IRS is the worst part - you have no idea if your paperwork is sitting in a pile somewhere or if there's an issue that needs to be resolved. I'm definitely going to look into some of these tools people mentioned for getting status updates. At this point I just want to know that my claim is actually being processed and hasn't disappeared into the bureaucratic void. Has anyone else tried calling the IRS directly or is that just a waste of time?

0 coins

Has anyone actually filed a 2020 return recently using TurboTax or other tax software? Do they still support returns from that tax year or do you have to file paper forms?

0 coins

Anita George

•

I just filed my 2020 return last month using TaxAct. Most tax software still supports filing for the past 3-4 years, but you usually have to pay for it - can't use the free version for prior years. I think TurboTax supports it too but double-check before purchasing.

0 coins

Omar Hassan

•

Adding to what others have said about the May 17, 2024 deadline - I want to emphasize that this is a hard cutoff date. The IRS doesn't make exceptions, even if you file just one day late. I learned this the hard way with an old return from 2018 where I missed the deadline by literally 3 days and lost out on a $800 refund. Also, make sure you have all your documents ready before you start filing. You'll need your 2020 W-2s, any 1099 forms, receipts for deductions, and possibly your prior year return for reference. If you're missing any employer documents, you can request wage transcripts from the IRS, but that takes time you might not have given how close the deadline is. One more tip - if you do file electronically, make sure to save confirmation that it was submitted before the deadline, just in case there are any questions later. Good luck getting your refund!

0 coins

Just want to add - make sure you keep ALL documentation about the HVAC issues. Take photos of any correspondence, save emails, keep receipts if you had to stay elsewhere or buy fans/portable units. I had a similar situation last year and the property management company tried to claim later that the reimbursement was for "inconvenience" rather than uninhabitability, which has different tax implications.

0 coins

PixelWarrior

•

Thanks for the tip! I've been keeping everything so far - emails, maintenance request tickets, temperature readings from inside the apartment, and even took videos showing the thermostat vs actual temperature. Does the specific reason for reimbursement actually affect whether it's taxable?

0 coins

Yes, the reason for the payment definitely affects tax treatment. Reimbursements for uninhabitability or property damage are generally not taxable since they're considered a return of your rent payment. However, if they classify it as compensation for "inconvenience" or as a "goodwill payment," the IRS might consider that taxable income. That's why the specific language they use in the documentation matters so much. Make sure any written agreement or check specifically indicates it's a "rent reduction" or "rent reimbursement" due to the unit not meeting habitability standards.

0 coins

I'm a property manager (not yours obviously lol) and I can tell you we always request W9s for any payment over $600, even when it's not taxable income. It's just company policy for record-keeping and because our accounting system requires it. Our legal team makes us do it even when we know the payment won't be reported as income.

0 coins

That's really helpful insider info! So basically OP might need to fill out the W9 regardless of whether it's taxable or not? Is there any way for them to ensure the management company doesn't incorrectly report it as income on a 1099 later?

0 coins

Noah Ali

•

@Zainab Ibrahim That s'really reassuring to hear from someone on the industry side! Is there anything OP can do when filling out the W9 or in their communications to make it clear this is a rent reduction rather than taxable income? Like including a note with the W9 or getting something in writing from the property management company about how they plan to classify the payment?

0 coins

Has anyone used TurboTax for handling car deductions and EV credits? I'm trying to figure out if it walks you through all this complicated stuff or if I need something more specialized for my 2025 taxes.

0 coins

I used TurboTax last year for my EV credit and business mileage. It asked all the right questions about whether the vehicle qualified under the new rules and walked me through the business use percentage calculation. The only challenging part was having my mileage log ready - the software doesn't help you create that retroactively.

0 coins

AstroAlpha

•

I'm in a similar boat - making around $70k and considering an EV purchase partly for the tax benefits. After reading through all these responses, it sounds like the key is understanding the difference between tax credits and deductions, and being realistic about the actual savings. From what I'm gathering, the EV tax credit (up to $7,500) is the real benefit since it's a dollar-for-dollar reduction in taxes owed, but it depends on the specific vehicle configuration and your tax liability. The business deduction route only works if you have legitimate business use beyond commuting, and even then you're only saving your tax rate percentage of the deducted amount. I'm definitely going to check my mileage patterns first and maybe use one of those tax analysis tools mentioned here before making such a big purchase decision. Thanks everyone for the reality check about not buying a $40k+ car just to save a few thousand in taxes!

0 coins

Prev1...35403541354235433544...5645Next