All Questions
7
questions
1
vote
3
answers
6k
views
Must I file Form 1099-INT for interest on a business loan from an individual?
The 2020 Instructions for Forms 1099-INT and 1099-OID says that "you are not required to file Form 1099-INT for interest on an obligation issued by an individual", but I don't understand what they ...
- 507
2
votes
0
answers
153
views
How can I stop the IRS from withholding refunds for a student loan that is already paid off?
I paid off my student loan over 10 years ago. The IRS is now withholding my refunds. How can I prove this loan has been paid?
- 21
5
votes
1
answer
4k
views
How does the bank/IRS know whether a bank transfer over $14k is a gift or loan repayment?
Suppose I want to help a relative, an international student, pay his college tuition before he arrives in the US (let's say the amount is $20k, i.e., over the $14k tax-exempt limit for gifts). He'll ...
- 183
5
votes
2
answers
328
views
How do I get my student loans that were waived due to disability, not to be treated as income by IRS?
I went to college, graduated and had a bunch of student loans.
I got them waived, on account of being permanently disabled. Now the loan organization is going to report this as income to the IRS. I'...
- 51
1
vote
0
answers
145
views
Tax return rejected, received a check
I filed my tax return in 2015 using TurboTax and received a check from both federal government and state. I am currently applying for a loan. When I downloaded the tax return statement (from ...
- 131
1
vote
1
answer
2k
views
Short term loan from parents and the IRS
My wife and I are purchasing a new home that we're closing on July 1st.
The sale of our house closes July 15th.
For the down payment on the new house we're a little short on cash and can't use the ...
- 377
4
votes
2
answers
326
views
When getting a business loan, does it look better to owe the IRS or the credit card companies?
I am looking to take out a $40,000 loan to buy out my mother's existing business, that is doing quite well. I explained to the loan officer, in a phone conversation, (I have not yet sent in my ...
- 41