asked
We have moved our mother into a retirement community. She owns her home outright and wants to sell it as is. We want the property sold with the least tax consequences. Mom and Dad had always wanted to take the money realized from the sale of the home and gift the four children equally. How can we achieve this with minimal tax implications?
August 12th, 2023
In layman's terms, what does 'Industrially Disabled' mean, and why did my December 2017 wages not show on the calculation for my state SDI claim in California?
May 12th, 2023
Can I receive my K-1 income as a DBA (using my individual SSN) and employ my husband on payroll (with an EIN, withholdings, etc.) through this DBA, to compensate him for work and errands related to my S Corp, without transferring my ownership interest?
March 7th, 2024
I received a letter from the IRS indicating that someone had filed a Form 1040EZ in my name, and I confirmed with the IRS that I did not file this return. I have taken steps to notify the FTC and credit bureaus. My question is about Form 14039, the Identity Theft Affidavit from the IRS. The instructions for Form 14039 indicate that it should be filed with a paper copy of my tax return if I've been advised that I cannot file electronically due to SSN misuse, and separately if I received a notice from the IRS. However, it doesn't explain what to do if I received a notice and was told I can't file electronically. Should I file the affidavit with the paper copy of my return, considering I already notified the IRS by phone that they should not process the suspicious return?
July 24th, 2023
I just received my tax refund and it was reduced with the IRS code 896 I/B D Overpayment Credit Offset. What does this mean, and how can I find out what the offset was for if I don't know of any IRS debts?
September 19th, 2024
Can the IRS make you pay taxes older than 10 years, and if so, must they lift liens and unfreeze a passport after paying back taxes from 2005 and 2006?
May 29th, 2023