Michael S. asked
In Nebraska, does a non-profit organization pay sales tax for non-resale items if it is a property development company putting a new building or development project in place?
December 4th, 2023
Karen R. answered
In Nebraska, non-profit organizations are generally exempt from paying sales tax on purchases used i...
December 4th, 2023
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I received a 5071C letter from the IRS about tax return verification. What should I do?
June 15th, 2024
I'm doing a partial 1031 exchange on a rental property. I need to determine how much cash I can take out of the exchange without incurring tax liability. I have both offsetting capital losses and catch up depreciation which may impact the decision. What are the tax implications of taking cash out during the exchange, and how do capital losses and catch up depreciation affect this?
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Is there anything I can do to protect my tax refund from being taken due to child support arrears, especially since my child now resides with me and I need the refund to buy a home for my family?
October 11th, 2023
Who is the responsible party for an EIN application when a revocable trust converts to an irrevocable trust upon the grantor's death?
December 22nd, 2023
Hello - re IRD 082-805-133. We have just been advised by our accountants that this entity has a penalty going back to May 2019. There was no GST to pay, and we were not aware that filing had not been completed. Now after four years, this is the first notification we have received. There has been no communication during this period. Consequently, we ask for the understanding of Inland Revenue in this instance. Thank you Ralph Faulkner ***@******.*** (###) ###-####.
November 17th, 2024
