do not say anything to anyone! Immediately contact a tax attorney. When you see two people from the IRS it could mean the Criminal Investigation...

Can an irrevocable living trust be used to reduce estate taxes?

Yes. One example is an irrevocable life insurance trust (ILIT). This is a complex area and you need a good tax and estate attorney. I hope this...

What to do about a K-1 (a tax form), I received on the 15th of April?

A K-1 is part of a 1065 or 1120S. These are filed by March 15, or later if they are on extension. Normally, I tell clients to delay filing their...

The problem is your LLC is not set-up right. If you had 2 classes of membership interest, you could divide the income by class. This would do what...

I have not filed taxes 3 years in a row, how can I resolve my issue?

The Failure to File taxes for 3 or more years has a presumption of "willfulness." This means you would be presumed guilty if you are criminally...

You are in trouble because you could be liable if there is an accident and possibly be considered having an uninsured vehicle. Please talk to a...

Best way to export?

Usually, it would be easiest (and wisest) to set-up a separate US entity. This way you will not subject your Columbian company to US taxation,...

If I already have a tax I'd for my llc, do I need to obtain an estate tax id to manage my husband will? Can I use my llc id.

You need a new TIN. Please retain a good tax and estate attorney. Ron Cappuccio

I have an llc tax id do I still need an estate tax id to manage my late husbands will

You need an estate TIN. Please speak to a good tax and estate attorney to help you with this. Estates involving businesses can be quite...

Are there particular issues of unique real estate or tax structuring significance in connection with the acquisition of a farm?

First, you need to have separate entities for the Real Estate and the business. Sometimes additional structuring is helpful. Usually, I would work...