Is there a statute of limitations on federal taxes?

The normal Statute of Limitations is 3 years from the date of filing or the date due, whichever is later. If you did not file, the Statute never...

Didnt file '09 return. IRS says I owe & must pay by 12/31. Do I pay , then send return OR send return by 12/31 OR call IRS first

Please call a tax attorney right away! You have received a collection letter and the next steps will be attempts at enforcement action (wage...

Income tax with holding

Yes, the employer must withhold Federal and State Taxes. Why did you not fill-out a W-4. I hope you are not a tax protester. The Supreme Court has...

Tax on Gifts

Until December 31, 2012, you can leave up to $5 million. You would need to file a gift tax return, but there would be no gift tax on it. After...

Can a bad personal loan be deducted on your taxes/

Usually, personal loans are not a deductible expense. if you own a business, it might be a business loss under the right circumstances. You might...

It sounds like a plain, old mistake. Has FICA and state withholding been taken out? If so, there was probably something entered incorrectly in the...

I receive a royalty monthly for songs and there arrangements on a CD. Is this income taxable and can it be calculated as income

Royalty Income is taxable income. Speak with your tax attorney because starting January 1, 2013, Royalty Income is treated as net investment income...

I have a C corp, with $400,000 in cash that has had taxes paid on it. How can I get the money out without paying a double tax?

Why are you a C corporation? That is rarely a good choice for closely held businesses. Now that you are stuck, you should consider several...

How do i obtain a copy of a lien when i live in a different state?

A federal tax lien was filed in the County of residence of the taxpayer. You need to contact the County to see if they were inexpensively give you...

If someone receives an inheritance that is put in a money market account and then withdraws monthly from that account to put in

If the money inherited was from a regular bank account or brokerage account, then only the interest earned since you received the inheritance would...