I need advice on structuring the sale of a franchise from an air conditioning company that is an S Corp. Will the sale be ordinary or capital gain on the franchise proceeds, and should they sell the assets or the stock?

January 17th, 2024

I need a tax lawyer. I'm being garnished at work for taxes I owed in 2003. I thought I had resolved the issue when I filed and paid about $1,000, but now they are saying I owe for another year (1998) and still owe $124 for 2003. Can they keep changing the amount and how far back can they go?

March 21st, 2023

As an Indian citizen and permanent resident of the United States (Green Card holder), I am employed in India and receive my salary in INR, while also working as a contractor in the US and receiving allowances. I pay taxes in both countries. Do I need to pay taxes in India again on the INR portion of my income? Should my Indian savings salary account be converted to NRI or NRO? Additionally, do I need to report 'credit Interest capitalized' and interest amounts with no TDS deducted under 'Income from other sources'?

December 24th, 2024

When filing an 1120X to amend a return and do an NOL carryback, should the total deductions in the 'Originally Reported' column include the previous NOL amount from the original return, and should the current NOL (being carried back) be part of the deductions total in the 'Correct Amount' column?

July 1st, 2024

I have intangible and tangible drilling expenses that my accountant didn't include on my tax return. What information should I provide to my accountant, and how should these expenses be reported?

March 25th, 2024