I have an estate of a decedent who had savings bonds cashed. The only beneficiary is a church, and we are in the second year of the estate. Does this income pay income taxes or should I distribute it to the beneficiary even though it was distributed in the second year? I am filing the first year estate tax now, and the second year will follow shortly.

August 15th, 2024

I have a client with a large NOL originating in 2013. In 2015, his income is 98,000+, triggering AMT. I'm trying to figure the ATNOLD. Here are the 2015 6251 amounts: Line 1 -154271, Line 10 249614 (NOL), Line 28 AMTI 95,343. How do I figure the ATNOLD?

May 30th, 2024

If a Sub-S corporation voluntarily dissolves (not through bankruptcy), will any unpaid portion of an expense included on previous year's tax return under accrual accounting need to be taken back into income for the current year? Are there any exceptions?

November 19th, 2024

I am a non-US resident contractor working for a US company in Belarus. I visit the US for 1-2 months a year. What are the current tax reporting liabilities for the company before the IRS, and how would they change if I became a minority shareholder or received stock options instead of an outright ownership stake?

April 14th, 2023

I did my mom's taxes for 2015 and mailed the return around April 5th. The IRS website's "Where's my refund" tool says they have no records of it. My mom is 93 and a little senile, so she can't call the IRS herself. Does this mean they never got the return, and should I resend it? If so, where do I send it?

October 23rd, 2023