A benefit fund was opened at a local bank for the sole purpose of holding funds raised for a young man in need of a wheelchair lift or van for transportation. It is not a trust account. Is this money taxable?

September 10th, 2023

I have websites for virtual currencies for online games and these websites are not registered under any company or real business. With significant income coming into my bank account, if they suspect I am money laundering, can the statements from PayPal and other payment options be used as evidence of selling these digital items?

December 18th, 2024

Can a person use what taxes they have paid into Social Security & FICA as a "Cost of contract" or as "Cost Basis" to reduce reportable benefits received on form SSA-1099?

January 6th, 2023

An unmarried couple with 2 kids lives together. The father works and supports the family, while the mother, who owns the home, stopped working in July 2014 and will have less than $3000 in income for the year. Should the father claim the kids as dependents now and at the end of the year, or should the mother continue to claim them?

March 11th, 2023

I am already on a payment plan with the IRS of $205 per month for a tax debt of $4,203.00 for the year 2011. I also owe $17,122.00 for 2013 and $9,213.00 for 2014. What do I need to do to increase my monthly payment or consider a tax consolidator?

August 22nd, 2023