Our choir director does not wish to receive a salary, so the church is putting his entire salary into the missions fund, per his request. He also requested and received $2700.00 of that salary for a missions trip with his wife. Some say there is no tax liability, but I question that. Should this transaction be reported as salary, and is it wrong to report it to the IRS? What is the correct procedure?

December 7th, 2024

The company I work for received a notice of levy with my ex's name and company's Tax ID, but with my social security number. Can they have my social for his name and company?

September 15th, 2024

I owed Bank of America approximately $610,000 when they agreed to a short sale of my home for $310,000 in 2010. The title company sent me a 1099-S for $310,000, but my tax guy says they should have sent a 1099-C because I received none of the proceeds. The IRS may think I owe taxes on this amount. What should I do?

February 28th, 2024

Can I withdraw from my IRA at age 58 without being retired, and are there any limitations or reasons I can't touch the money if I am willing to pay the 10% penalty and full tax?

August 27th, 2024

Is it true that I must include the $3000 Schedule D loss on line 13 of my 1040 form even if it does not reduce my tax, and if so, why must I give up a $3000 Schedule D loss when taxwise it does me no good?

November 15th, 2023