I owe the IRS $1,981.66 for the year 2020, which seems to correspond to the amount of two stimulus checks I received. I don't understand why I owe this amount, as the stimulus checks were not considered taxable income. What could be the reason for this discrepancy, and what steps should I take to resolve it?

January 9th, 2023

An irrevocable trust (with its own EIN) receives 1099s for dividends, interest, and capital gains (all of which were not distributed and retained within the trust). In order to pass the responsibility for those taxable events to the appropriate beneficiary and/or grantor, does the irrevocable trust issue out 1099s or K-1s?

January 23rd, 2023

As a foreign-owned U.S. LLC (owned by an Irish company) with no physical presence in the U.S., how should I navigate the tax interview on platforms like Amazon, and how does this affect VAT and income tax obligations?

May 16th, 2023

If my Nevada LLC purchases a vehicle in Arizona, pays the 5.6% sales tax in Arizona, and then drives to Nevada to register it, would I have to pay more sales tax upon registration in Nevada, and how does that work?

June 12th, 2024

If I move money out of stocks, mutual funds, and other investments to a loan for an individual for their mortgage, will I pay capital gains tax? The money being moved does not get added to my annual salary because it is being reinvested into the loan. Will I be taxed on capital gains and have that lump sum added to my annual income for that year?

April 14th, 2023