I am looking to understand if I am eligible for (all or part of) the $500K tax exemption on gains from a home sale. We are selling our house, which we bought on 6/30/20 for $888,000, and expect to sell it for $1,500,000. We spent $75K on home improvements. We are aware of the tax implications and ideally want to close on our sale after 6/30/22. However, we want to understand the tax penalty if we close before 6/30/22. Additionally, does it matter how much of our proceeds we roll directly into our next purchase, and if my wife getting a job in a far-away city would qualify as an unforeseen circumstance to allow pro-rating of the tax?

February 2nd, 2024

Can one take the Net Unrealized Appreciation (NUA) tax strategy for highly appreciated company stocks from a 401(k) plan even if previous withdrawals were made prior to taking NUA? I am aged 72 and have retired from the company. My investment in company stock within the 401(k) plan has highly appreciated.

February 13th, 2024

I haven't received the advanced child tax credit for my 3 children. I sent back the checks because my wife is incarcerated and I couldn't cash them. They said they would fix the issue and re-issue the checks, but I still haven't received anything. What should I do?

December 22nd, 2024

I received a letter from the IRS stating that I owe taxes. I would like to pay off the amount in full. What are my options for making this payment?

September 17th, 2024

I was issued a check from PUA, which I never received through mail, and I have not filed my taxes yet because I need a copy of my last year’s taxes in order to file. Can you help?

October 19th, 2023