old excise tax from years back
People don't go to jail for non-payment of auto excise taxes and if you mean corporate excise tax then again, usually not. There are, of course, non-criminal means for the IRS and the DOR to collect such taxes. I suggest you meet with a tax lawyer to be more specific and get good answers and a strategy.See question
I had numerous jobs was too disorganized to file my taxes. I don't know whether I owe more than $50,000, but I never made a particularly large amount of money. I have not received any notices from the IRS about this recently. Might I still have to...
This is more an immigration question than tax. You can find out if you owe back taxes but generally the IRS will not go back more than 7 years for unfiled returns. I suggest you hire a tax lawyer just to find out where you stand.See question
My brother and I became full owners of our dads home which was in a life estate after he died. Home is appraised at $200,000. He wants to buy me out for $100,000. Will there be capital gains tax for either of us. Thanks
There's not likely to be a tax since you & your brother get a step up in basis to the fair market value as if your father's date of death. So if the value was $200,000 of of that date, the no gain to be taxed.See question
I have been awarded a settlement from a PCB litigation in the State of MA. Would I have to pay taxes on that and I have to show that as income. I contacted Cancer and was out of work for a couple of years.
That's an excellent question. Generally, winnings from a lawsuit, whether settled or by judgment, are income or not based upon what's called the "Origin of the Claim" doctrine. So if you are physically insured [car accident for ex.] none of the money is income EVEN IF THE AWARD USED LOSS OF INCOME TO YOU in the calculation. You may need to get that answered by the litigation firm that worked on the case. You will need more info on why you were paid.See question
My situation is this, I've been doing my taxes for the past 2 years with a man that my friend referred me to. Earlier this month I received a letter from the IRS requesting my 1040 and wanting to know how the numbers/amounts on my income tax were ...
This is not really a tax question. You are responsible for the figures on your return even if the preparer did bad things [I see this happen all the time]. Still, you need to pursue that preparer and that might mean suing him in small claims, or another venue. It may mean hiring a constable to serve him. Please get a lawyer to help you with this.See question
If you receive money in foreign currency in foreign account , should you report it for tax forms?
US citizens, green card holders, or if your are physically present in the US too many days are subject to tax on world wide income. Who employs you or how you are paid makes no difference.See question
We sold our home in New York state. My wife resides in MA all year. I work in Albany, NY and reside in Corp apartment. I am the primary household income provider. Currently we are both legal NYS residences and file taxes accordingly. She wants to ...
These are great questions but you should hire a tax lawyer to get real answers with all the details before them. This site cannot answer all the issues presented.See question
When the Massachusetts estate tax return is filed with the Mass. DOR, it must include a copy of a complete 1999 version of the Federal Form 706. Does that form need to be filed with the Internal Revenue Service, if no current Federal 706 is requir...
You need to file Form M-706, Form 706 from 1999 & I always prepare & file the current year Form 706.See question
I recently filed adjustments of status to immigration and all joint sponsors tax information was submitted but replied me to send joint sponsors complete IRS form
A complete return means everything you filed with the IRS. If they claim that wasn't complete you should ask why.See question
I am currently in the process of buying a house. Our appraisal came back 1000 sq ft less than the list sq ft and what the city has evaluated. I looked more into the measurements are the same on both ends, the city miscalculated the numbers. Once I...
This is not a tax question but a real estate question but I can answer that for you. Once you close the house is yours and you have no obligation to pay back the previous owner. That being said, sometimes when you close the actual RE bill isn't known until after the closing and in such cases most P&S Agreements provide for a post-closing adjustment between buyer and seller. But you cannot apply for an abatement of the taxes paid for the previous owner without their input and presumably their request to divide up any abatement.See question