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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12689
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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When filing an individual tax return where the IRS has

Customer Question

When filing an individual tax return where the IRS has garnished wages, how, or is, the taxes taken by the IRS shown or accounted for on the 1040 return?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi Colin. My name's Lane I can help you here.

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Your intuition is good. Because this is a tax from a prior year, rather than an expense or income OF the year, this wouldn't be placed on a tax return at all.

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Let me know if you have questions.

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Lane

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I hold a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Expert:  Lane replied 1 year ago.

. … Please let me know if you have any questions at all.

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If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

Otherwise I’m working for no crediting at all here

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Thank you!

Lane

I hold a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Expert:  Lane replied 1 year ago.

Hi Colin ... SO sorry ... looks like there was an issue with the call request... Shall I try from my end?