I am to receive $23K from the sale of a property in Puerto Rico, which was sold for $150K. My father is still alive and receives Social Security and Pension payments, so he files tax returns in the U.S. What is the tax reporting requirement for me regarding this $23K, and is there an exclusion amount?

May 31st, 2024

I need to pay commission to a 1099 contractor as part of my business operations. The payment includes a fixed amount per month plus 10% of the sales revenue. How should I report this commission payment on my business tax return, and under which account head should it be reported?

May 10th, 2024

If you sell a book of clients in your S Corp and you actively participate, are you subject to net investment tax in addition to capital gain?

October 31st, 2023

My husband and I filed our 2021 tax return in April. The Ogden Utah office stamped our Certified Mail card on May 11, 2022. We tried to file online but there is a discrepancy in our 2020 taxable income. I have checked online several times for the status of our return and refund, but each time a message displays telling me I must have put in the wrong information. Is there no record of our filing?

February 6th, 2024

I just received a tax credit for the tax period ending March 31, 2022. How can I get the tax return to my credit account?

January 19th, 2023