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Arkansas DFA has set up an online refund inquiry service for individual taxpayers.  You just enter your SSN and zip-code.  I’m not sure how useful this will be. I just tried it for a couple of clients, and it came up with the following message in each case.

Income Tax: Refund Inquiry

There is currently no return found for the Social Security Number and ZIP code you entered. It may take as long as six (6) weeks from the time you mail your return until it can be located in our processing system. Also, you may want to verify the Social Security Number, and ZIP code you entered with those found on your copy of your return. If you have additional questions, please call (501) 682-1100 inside Pulaski County, or outside of Arkansas, or 1-800-882-9275 WATS, in Arkansas.

Q:

Exchange Question

What if I sell Florida then use only some of the money for another property in another state?  Or can I use it to pay off one of the other financed properties?

A:

Like kind replacement real property can be in any state; not just the one where the original property was located.

If you reinvest less than the net sales price, you will have to report as taxable income the difference; the amount you missed the target replacement price by.

Paying off loans on property you already own is not a like kind investment.  You have to acquire new property.

Your personal professional tax advisor should be able to help you with real numbers for your unique circumstances.

Good luck.

Kerry Kerstetter

 

Q:

Subject: tax website

I saw your tax web site, and was wondering if you could help me.

 

Simply, the IRS disalowed my EIC, ( never recieved it, (( refund froze )),  later after i protested, they reassessed their own review and sent me a letter stating that i have to pay them the EIC amount in question, if i disagree, then i have to go to tax court. If i go to tax court, then i will have to pay penalties and interest on an amount that i never recieved.

 

Is their any service that you can offer me to fix this ?

Have you seen anything like this before?

A:

There are far too many variables involved for me to be able to advise on your particular situation via this medium. 

The person who prepared your tax return should be able to help you with this.  If you did your own return, you learned an expensive lesson.

To work out the best solution for your particular circumstances, you really need to work with a tax pro who can help you set up a strategy that will work for you.

I wish I could help you; but I already have too many clients to take care of; so we are not accepting any new ones at this time.

Unfortunately, we don’t have anyone else to whom we could refer you. If you haven’t already done so, you should check out my tips on how to select the right tax preparer for you.

Good luck.

Kerry Kerstetter

 

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