The CA Franchise Tax Board sent a notice of balance due for LLC tax for years 1999 and 2000, which is the first notice received in 13 years. We no longer have documents proving whether we paid or filed the tax returns. Is there a statute of limitation that prevents the Franchise Tax Board from collecting something from over 13 years ago? FTB is asking for over $4,600 in fees, interest, and penalties. Is there any way to negotiate with FTB to reduce the amount owed?

June 14th, 2023

Can costs of property and liability insurance, electricity usage, maintenance, and repairs for land and lake cabins used by beneficiaries be included on line 15b of Form 1041, and if not, are there any other deductions available for these expenses?

April 9th, 2023

Is there a Pennsylvania tax break if I were to gift my house to my life partner now but remain together in said house, given that my estate is well below the federal exemption level?

February 8th, 2023

I had debt reduction through Freedom last year but did not receive any 1099-C forms. I settled credit card debts for less than what I owed. Do I need to claim that as income since I did not receive any 1099-C forms?

October 27th, 2023

If I received $7700 from a death warrant from a person who died at my work, do I have to pay taxes on that money, even though taxes were taken out before I received it?

August 24th, 2023