I earned no income last year and am fully retired. Should I file a tax return anyway, even though I had no income in 2021, to maintain good faith with the IRS and avoid potential audit risks?

May 5th, 2023

We received a 1099-B form, but we did not sell or trade any assets this year. My husband’s company was acquired, and the form seems to capture proceeds from broker transactions due to this acquisition. The term ‘proceeds’ suggests we made money and should pay taxes on it, but our account after the sale shows no increase in value, nor did we receive any cash. What are these ‘proceeds’ and why am I paying taxes on them?

September 29th, 2023

My husband just died. We were married over 10 years. How do I apply for his Social Security benefits? What percentage will it be?

October 13th, 2023

I'm filling out Form 7004 and need to determine if my LLC qualifies as a partnership under Regulations section 1.6081-5. The LLC is formed in Delaware but conducts all business and keeps its books outside the US. Additionally, last year we received a penalty for late filing of Form 1065, which we filed despite having no income or expenses. What should I do to avoid penalties and correctly file this year?

August 20th, 2023

My daughter received an SSA-1099 for her social security survivor and disability benefits from her mother's death. I am the overseer on the account. Do I or does she need to pay taxes on that money? Box 5 is $132,126. I am a painting contractor, have my daughter as a dependent, and we live in California.

March 1st, 2024