I received a Notice of Lien for Unpaid Tax due to unfiled returns. I have since filed all unfiled returns and paid the State of Maryland. However, I do not remember receiving a required Nonpayment of Personal Income Tax Due notice before the Notice of Lien. How can I find out if Maryland sent this notice, and if it was sent to an incomplete address, who should I address this issue to?

June 3rd, 2024

Should I use both Schedule C and Schedule E for my taxes as a real estate professional with rental properties, and how should I handle the material participation requirements for real estate professionals?

April 4th, 2023

I recently sold an investment property for cash and made a $280,000 profit. The property was in my name, and my stepfather managed it. We split the rent and he paid himself a yearly management fee. My stepfather told me I would not owe any tax on the property due to capital gains exemption, but my accountant says otherwise. My stepfather and I split the profits, but now he claims the taxes are my problem since the property was not in his name. The sale was cash, and I never received a 1099-B. My questions are: Is there any way I can force him to pay his share of the taxes? If he refuses, can I alert the IRS? Since I never received a 1099-B, does the IRS even know I sold the property? The property was in New York City, and I currently live in Puerto Rico due to a job transfer. I purchased the property in 1989 and sold it in 2012.

October 16th, 2023

In the sale of the stock and assets of a C corporation, how is the appropriate operating capital typically determined to ensure the corporation can continue operations at the current level of revenue and net earnings?

October 8th, 2023

As a self-employed building contractor on Medicare, how much of my Medicare premiums and my wife's private health insurance premiums can we deduct under the self-employed health insurance deductions on line 29 of form 1040?

January 3rd, 2023