My mother received a home in 1961 and it was placed in a trust with a life estate for her in 2019. The house is now being sold for $950,000, with net proceeds of approximately $750,000 after closing costs and mortgage payoff. How will capital gains taxes affect her, considering she does not know the initial value of the home but estimates it to be around $40,000?

August 1st, 2023

My husband and I filed our 2019 tax return on September 17, 2020, expecting a $1,130.00 refund to be deposited directly into our bank account. However, we have not received the refund yet. Could you please find out the reason?

August 5th, 2023

I need records of my EIP 1 & EIP 2 for my tax compiler in order to file for an adjusted rebate. I am located in Knoxville, TN, 77 years old with no dependents, and my typical filing status is single. My income is just slightly over $100,000. Is there anything else the Accountant should know before I connect?

July 25th, 2024

I am a small business with less than $1M in gross revenues, trying to fill out Form 3115 to change my accounting method from cash to accrual. What DCN code should I use?

January 24th, 2024

My bank account number has been changed and I need to update my direct deposit. When I applied for Social Security, I don't remember if it was online or by another process. I haven't tried logging into my account because I don't know the password, and I'm unsure if I have access to the email associated with the account.

December 25th, 2024