I have a question regarding receiving cash/money gifts from parents in large amounts. My mother wants to give me $200k and I am not sure what is the legal way to receive that amount? Do I have to pay taxes or fees? She can send the money two ways: from an international bank account in Ecuador via Intl. Wire Transfer or from a US bank account via a Domestic wire. Are both methods valid? Will my mother or I have problems with the IRS?

May 5th, 2023

My employer received a 2800C letter from the IRS, and I have never had an issue before. What does this letter mean, and what should I do?

May 26th, 2024

I filed my taxes on July 3, 2020, and have not received my federal refund, only my state refund. I filed an amended form at H&R Block and paid $200 for the service. Why haven't I received my federal refund, and what should I do?

October 19th, 2023

I received a letter regarding my 2017 back taxes. I have an installment plan already set up, and payments were initially credited to my account. However, since I started paying online through direct pay, the payments may not have been credited, and I'm now receiving letters that I am in default. I have not missed any payments since starting the installment agreement. How do I get my account brought up to date, and what should I do since the IRS is not accepting calls?

May 29th, 2024

Want to take the cash value on my life insurance policy. Will this be taxable?

April 12th, 2023