Purchase of Assets with loan from one partner but purchase agreement with other. Who has ownership in LLC partnership

Please get a good tax and business lawyer! You are demonstrating the problem with business owners trying to form and run a business without proper...

How do I find out if the IRS has discharged old tax bills past 10 years?

The IRS has 10 years to collect from the date of assessment. This can be extended by Bankruptcy filings and also certain appeals within the IRS,...

As a disregarded entity, the foreign corporation would need to file a US tax return for the entity. Depending upon the law of your home country, it...

I got a cp59 in the mail for 2011 Taxs not being filed will my wife also get one?

You must file the tax returns! I explain repeatedly every adult should file a tax return every year, even if there is no income, just to start the...

What should I do? I received a letter from the IRS stating that I owe them 31k in taxes. I havent slept since.

You have a common problem. Many times, people take an early withdrawal from an IRA in order to pay bills while unemployed. They forget that in...

1099 misc only shows net of $6000, last year, can I use this year as exempt & not file taxes since I paid out more than I made

You must file the tax returns! Every adult should file a tax return every year, even if there is income less than the amount required to file, just...

I am willing to register LLC in Delaware. Do I need phyiscal Delaware address to register business. I live in NJ . Plz advise

Yes. Your tax and business attorney will arrange for a registered agent and registered office in any State you choose. Why do you want to be a DE...

If I am an employee of my C or S corporation but my husband is not, can we each still take the standard deduction on our taxes?

Why did your lawyer select a corporation rather than a Limited Liability Company? That would have been a much wiser choice. You can take the...

Can I still send my 2012 taxes today, if I was late?

Yes. File your taxes right away, even if you cannot pay the balance! There is a 5% per month (up to 25%) late filing penalty. Frankly, I am very...

How do I stop IRS tax garnishment from my paycheck?

You need to file your tax returns! The IRS has prepared Substitute for Returns for the missing years. Probably, the amount of tax is much more than...