My parents, who work for the United Nations and are not US residents, want to transfer money from their UNFCU account to my US bank account. I am a US resident on a work visa. Would I or my parents have to pay taxes on this transfer?

January 16th, 2024

My teenage son bounced a check to the IRS. I know there will be a penalty for this. Do we need to wait to hear from the IRS to find out what that will be or can we mail a check in now?

June 1st, 2024

My wife died on January 6 of this year. We have lived in our house for 23 years. Should I get the house appraised to change the cost basis? What are the tax effects of selling the house this year (filing as married) or selling next year (filing single)?

May 17th, 2024

I coordinated with my employer to have my entire paycheck deposited into my HSA until I hit a certain amount. Due to an error, they deposited $1000 more than I asked, putting me over the maximum HSA contribution for 2016. Payroll corrected the next paycheck, but now I need to return the $1000 excess to my employer. Payroll advised me to write them a check from my HSA, but I'm unsure if that's appropriate since it's non-medical related. My credit union does not have a special form for distributing excess contributions. How can I return the $1000 to my employer without incurring a penalty or tax on it, since it's just going back to my employer?

February 11th, 2023

I have a 21-year-old daughter who lives at home and works full-time. We paid for her health insurance through the Affordable Care Act, but she filed her taxes and is now having problems because she did not pay for her own health insurance. What additional filing requirements do we need to be aware of, and how should we allocate the health care costs?

July 23rd, 2023