I am receiving no payments. All I get is an annual statement in April telling me what I could be paid in 20 years time. If I have to report this, not sure what numbers to put in a 3520-A form or when to file. The first "pension" tax year I will be...
You are not the U.S. owner of a foreign trust. Read the instructions to the form. If they are unclear, which I can easily see, it is because the concept of a U.S. owner of a foreign trust is a complex one. That refers to someone setting up a trust which is revocable, or someone else setting up the trust and giving you certain powers over it.See question
We have a volunteer group that campaigns against animal cruelty and we spend lots of our own money for our campaign such as postage, give away items, t-shirts, newsletter fees, leaflets, donating to activists overseas,...etc. We spent tens of tho...
You cannot get a tax benefit without creating a non-profit the way you are currently behaving. You can contribute money to an existing non-profit, but it may not let you act as you are currently doing.See question
I have an LLC that was established in 2009. All tax returns were filed with income flowing into Sch C as sole proprietor. I never received notification to pay the annual $800 fee. As such, all years were delinquent. Recently, the FTB sent a suspen...
If you did not take any money out of the LLC while it owed the tax, then you do not have any personal liability.See question
Our tax preparer submitted 2012, 2013, & 2014 tax returns w/false information. She stated we had over $5K in business expenses and huge losses to a home business that is non existent. She also stated we had property that we did not. We only pro...
As the other fine lawyers have indicated, you sign your return under penalty of perjury. So, as between you and the IRS, you are responsible for the return. However, if your return preparer ignored the documents you provided and made up deductions, you still may have a cause of action. The question will be: what are your damages? If the preparer prepares the corrected returns for you and does not charge you form them, then you may not have any damages. Interest is not damage. Only penalties would be damages.See question
I will be the one file the will and request personal representation under a bond
Yes. The IRS can seize the inheritance. It is an asset which is not exempt.See question
I was living in Ohio, and partime in CA, when I sold some personal common stock, filed my taxes in Ohio in 2011, 12, then in CA for 13, 14. I only made 2300.00 dollars in 2013 from stock sales, no money in 2014 Franchise. CA franchise board sta...
Messrs. Egli and Halverson have given you superb advice. You should pick up the phone and buy time from one of them. If you were a California resident when you sold the stock, then you own tax to California.See question
He sent this email to my loan broker: This is to notify the receipts of this email that the use of any of my financial, tax returns or any financial papers that bears my name, xxx , is hereby strictly forbidden for obtaining any loans or refina...
You are entitled to supply a copy of your joint return to anyone you wish. The issue is whether the lender is entitled to rely on your husband's income for purposes of making the loan. Your husband obviously does not want to be responsible for the loan, which is the reason for his e-mail to the loan broker. So if you need his income to qualify for the loan, you are probably going to have a problem. This is something for the two of you to work out.See question
I am an intern for a firm and I was asking for the attorney I was working for.
Yes. A citizen of a country other than the U.S. can be an employee of a U.S. company. That person may not need to pay taxes in the U.S. if the services are performed outside the U.S.See question
I read somewhere that non-profits under this code are treated the same as for profit entities, but does that include non-profit churches?
It does not appear that a tax exempt entity is a "merchant acquiring entity" or a "third party settlement organization" which are the entities covered by that code section.See question
Is this illegal? Should these violations be reported to anyone?
No it is not legal. Yes you should report the violations to the state of California.See question