asked
I live in the US Virgin Islands and worked in 2010 without taxes being taken out of my check. I owe Social Security money. When I filed my income tax, I was due a refund of over $7000, but the Virgin Islands Internal Revenue Bureau (IRB) is withholding my refund because I owe Social Security in the US. Can the IRB legally withhold my refund for a debt to a different government agency?
January 10th, 2024
My parents' house in California, held in the family trust, was sold at a loss in 2011. The house was appraised at $650,000 at the time of the owners' death and sold for $550,000. We were told the new owners would be responsible for property taxes, but I am now receiving a property tax bill a year later, which is significantly higher than what we paid in the past. Why am I being billed, and what should I do about it?
May 16th, 2023
As foreign investors living in France, would we have to pay the 30% tax on the gross rent for an investment property in Florida, or is there any way to pay less?
August 30th, 2024
I sold a company to another and was given shares of stock in the other company instead of cash. Do I have to pay taxes on the shares?
December 1st, 2023
15 to 20 years ago, I bought a small stucco company from my father on Hilton Head Island, SC. After his death, the IRS closed the company and sold off all assets due to a $63,000 lien. I was unaware of the debt. A tax lawyer informed me that the IRS did not refile the lien, so I no longer owed the money. However, the lien remains on my credit report, affecting my credit score of almost 700. I want to buy a house through the VA, but this issue is a problem. How do I get this lien removed from my credit report?
September 17th, 2023
I have six children. Can I give $13,000 to each child and claim a deductible of that amount for each child? Will each child (all are over 50 years old) then pay tax on his gift?
August 13th, 2023