That's a great idea! I'll definitely suggest they contact their tax preparer. Do you know if most preparers offer this service or is it something specialized?

Most professional tax preparers can do this if they have proper authorization. Your in-laws would need to have signed a Form 8821 or Power of Attorney (Form 2848) allowing the preparer to access their tax information. If they didn't sign this initially, they might need to do that first. Many enrolled agents and CPAs routinely offer transcript services as part of their package when they prepare returns. It's worth asking, especially since the preparer is already familiar with their tax situation and could explain everything in context.

Does setting up a payment plan stop the penalties from adding up? Or do you still get charged interest while paying it off?

23 Good point about states! Do you know if the IRS transcript thing shows state forms too or just federal? Moving between states seems like tax nightmare fuel.

3 The IRS transcript only shows federal forms, not state ones. Each state maintains their own separate tax systems, so you'd need to check with each state tax department individually. And yes, moving between states can definitely complicate your taxes! You typically need to file part-year resident returns in both states, and the rules for how income is allocated between states varies. Some states have reciprocity agreements that simplify things, while others make it more complex.

21 Do they at least email you when the 1095-A is ready? I'm on marketplace insurance for the first time this year and trying to be proactive.

3 I did this last year. You can request it online through the IRS website or by calling. No setup fee, but you still pay interest and the failure-to-pay penalty during those 120 days. It was straightforward - I just needed to specify how much I owed and that I'd pay within 120 days. No financial statements needed.

Really helpful breakdown! My transfer would be to North Carolina. Any idea where that falls on the state tax spectrum? And is there a good online calculator you'd recommend that lets me input all these factors?

North Carolina is actually pretty straightforward with a flat 4.75% state income tax rate - so middle of the road compared to other states. Not as high as California or New York, but not tax-free like Texas or Florida. For calculators, I recommend using the ADP Salary Paycheck Calculator (just Google it) - it lets you input your salary, state, filing status, and deductions including 401k and health insurance to get a realistic take-home estimate. SmartAsset's paycheck calculator is another good one that shows the breakdown of all taxes. Both are free and pretty accurate based on my experience relocating employees to various states.

This is so important - I got hit with unexpected taxes from my home country after my transfer. Do you need to file Polish tax returns every year even after moving to the US? How does that work?

I use H&R Block and did something similar last year. The interface is different but the concept is the same. You need to create two separate K-1 forms and split the income between them. The tricky part in H&R Block is you have to manually go to the forms view and find the right schedule to enter the rental real estate portion.

Thanks for the guidance! Do I need to do anything special to make sure the basis calculations carry forward properly in H&R Block? And should I be entering any tax credits on the first or second K-1 entry?

You actually can edit the TXF file directly if you're comfortable with text editing! I tried this approach too. TXF files are basically formatted text files, and you can open them with Notepad or any text editor. Look for the sections related to your K-1, and you'll see entries for each box. You can create a duplicate of the partnership entry with a slightly different name, then remove line 2 from the original and remove everything except line 2 from the copy. It's a bit technical but doable if you're careful.