For tax purposes, would this be considered a gift? No services were rendered or products sold.

No that's not a gift. It's a loan without interest between related parties which is ok.

I want to file bankruptcy but Im in the middle of an offer of compromise that wont end for 6 months. I really need to file asap

You can file bankruptcy in the middle of an accepted offer but those taxes are not discharged.

Taxes offer in compromise

You can always file bankruptcy. But if your question is are income taxes dischargeble then that's different. You can file bankruptcy even in the...

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W-2's are not filed either by paper or electronically with MA. Instead, MA gets information from the IRS. However, because the IRS doesn't not key...

Non Resident Alien using her SSN to start a sole proprietorship business in the US. Difference between forms W-8BEN and W-8ECI?

First, it's not clear about your SS#. If you have one then you were either a citizen or a resident alien (green card holder) in the past. If you...

My business is changing from a general partnership to an incorporated non-profit. Do we need a new EIN?

Yes you should get a be federal ID number because this not merely a change in form but a change from for profit to non-profit.

In 2013 I purchased my first home. I've now received notice from the IRS that I owe them $10,000.

There are not many things you can do. First, to avoid the 10% penalty you must be over 59 1/2 at the time, not 55. Second, neither the lender nor...

Looking for an attorney or some direction on settling some state taxes.

There are many good tax lawyers to help you with this. We do this all the time. Find one and ask what they can do for you & will it be cost...

Owe back taxes for several years and am currently disabled with a limited income. Can my ssdi check get levied?

Yes, those payments could be levied but if you contact the federal or state agency to let them know you cannot afford to pay back taxes, you should...

How much a US LPR living overseas should pay for taxes?How do they calculate the taxes if you are self -employed living overseas

US citizens working overseas as a permanent resident may exclude from US income taxes a little over $100,000 and other tax benefits related to...