I received a CP90 letter from the IRS in 2017 indicating I owe $120k in federal taxes, but the fees have increased the total to $136k. I currently cannot pay this amount in full. Is it possible to settle this debt through monthly payments, and if so, what would be a reasonable payment plan? Additionally, is it possible to have the fees removed to reduce the total amount owed?

May 13th, 2023

I have been a limited partner in a limited real estate partnership in Oregon for 30 years. My capital account has gone from plus $30,853 to minus $64,806. When the partnership is liquidated, my share of the selling price will be about $50,000, but I will receive no cash distribution because of an enormous mortgage that must be paid off first. What is my basis and how much long-term capital gain will I have?

May 9th, 2023

I am planning to convert some stocks from my IRA to my Roth IRA without selling them first. Can I transfer individual stocks and adjust for the basis (I understand that the gain would be taxable)? Or do I need to calculate the entire basis of the IRA account and use the percentage gain on the transfer?

August 10th, 2023

I need my Tax Transcript and for some reason the IRS is not letting me go forward with an online request. I need to know if someone can do it on my behalf, and if so, who can I contact to expedite this process?

October 28th, 2023

I have been sued for non-payment of taxes on a lake lot that I could not sell or give away in 2002 after the death of my husband. I decided to not pay taxes and let them foreclose. If I pay now, I will still own the property. Why won’t they foreclose? I need to send them an Answer. Do I need to hire an attorney to do that? I was told that I had to have a Smith County attorney.

March 25th, 2024