When I filed my 2008 taxes in October 2009, I owed $9500.00 and made an installment agreement to pay $500.00 per month. I still owe $3700.00 and am getting ready to file my 2009 taxes, which I estimate will also result in a similar amount owed. Will the IRS allow me to continue making installment payments on the entire amount owed, or do I need to pay off the $3700.00 from 2008 before I can get an installment agreement for the 2009 taxes?

March 29th, 2023

Have sale of residence owned by 2 related parties (mother and adult son). Son has lived there over 5 years, while mother never occupied the property. Gain on sale exceeds son's exclusion by about $100K. In reporting on form 593, do I use two forms, one for each party, and allocate the gain in relation to their ownership percentage?

June 20th, 2023

A few years ago, I paid cash for a house, and now I am selling it. Will I have to pay taxes on the sale if it does not exceed what I paid? The house was bought by my daughter who was about to lose it.

June 20th, 2024

I received a refund yesterday with the wrong name on the check. The check says Darlene R & Clyde G. Powell, but my husband's name is James L. This is a Kansas 12/2012 Tax refund with MFT30 and 7.60 interest. What should I do?

August 12th, 2023

A corporation paid for a land improvement, specifically a breakwall for a marina, while renting the property from a related party on a month-to-month basis. Is this considered a land improvement or a leasehold improvement, and would bonus depreciation still be allowed?

October 18th, 2023