asked
My friend's mother just received a 1099-INT for income that her deceased sister had earned but was only discovered after the estate was closed, and they split the amount between my friend's mother and her brother. Is she required to pay taxes on this amount? Was it correct that she was issued the 1099 in the first place?
December 18th, 2024
If I own a property equally with my sister and mother, and my mother passes away, what are the tax implications? Would buying property be a good way to save on taxes in her sizable estate?
September 15th, 2024
Is there a tax credit for me if my husband died this year? He owned a hair salon and I have a full-time job. I am now a single parent of our 4-year-old.
July 1st, 2024
I am having a TV unit and kitchen bar covered with wood. Is this considered home improvement and excluded from sales tax?
September 30th, 2023
I have been the beneficiary of a simple testamentary trust for the past 2 years. Recently, the fiduciary and I noticed an error on the last two 1041 forms the trust filed. On both the 06' and 07' trusts 1041, the box 'This is the trusts final tax return' had been checked, which is a mistake as it is not the final return. Is this a serious error? Should I contact the IRS? The trust earned about 50K in dividends and capital gains, which were distributed to me and taxed at my tax rate. Half of the principal of the trust has been disbursed, and the rest of the funds are in a money market fund and will likely be disbursed soon.
July 27th, 2023
My daughter received W-2 forms from her stepmother, who owns her own business, but my daughter has never worked there. Additionally, her stepmother wrote and deposited checks in my daughter's name into her personal account, with some checks having a forged signature. My daughter is 16 now. What actions can be taken regarding the false W-2 forms and the forgery, and is there a specific form to file a complaint with the IRS?
October 26th, 2024