Me and my sister filed our taxes before our mother, even though we claimed dependent. It will not let her file hers now as it says we have filed as independent. We both have already received our refunds. Is there any way for us to be able to 'unfile' our taxes, allow her to claim us, then refile?
January 21st, 2024
I did not file my taxes for 2009 and now the state of California is charging me for not filing, including late fees totaling about $4,000. I am unable to afford professional tax assistance. How can I file my taxes myself, and where can I obtain the necessary forms? I have my W2.
June 28th, 2024
I recently bought a property in Connecticut and my tax rate is 58.2% of the assessed value. Where can I find information on tax exemptions or deductions that might reduce my tax rate?
October 16th, 2023
I'm selling my house to my son and his wife, gifting 20% of the equity to help them get a loan for the balance. The sale price is $440,000, with an equity gift of $88,000 and a new loan of $352,000. Do I have to pay taxes on the $88,000 gift? The original purchase price was $370,000, and I've been claiming the property as a rental on my tax returns. What happens to the $30,000 in upgrade expenses, and how does this affect my capital gains or losses?
February 23rd, 2024
The IRS made a mistake on my federal refund by not applying premium tax credits for health insurance premiums and refunded me $1,300 too much. How do I return this money without being penalized or charged interest?
December 21st, 2024
I have a client who put his real estate assets into an intentionally defective grantors trust for his children about two decades ago. The trustee found 8 properties with liens on them that expire in 2027, under the grantor's name, even though the grantor was not the owner. The IRS won't release the liens until 2027, despite the ten-year statute of limitations on collections due to a late assessment. Is there any solution other than waiting until 2027?
August 13th, 2024