Do the words tax lien only pertain to back taxes owed on a home? Do the words tax lien only pertain to back taxes owed ?

Federal Tax Liens apply against all assets. The Federal Tax Lien lasts for 20 years. The IRS can renew it, but rarely does. Even when it is paid,...

Is a Church required to file taxes with the IRS?

A church or nonprofit organization is required tooth annually file a form 990 with the IRS. Presuming there is no income is classified as...

My mother and I [son] bought a house . i get all the deductions when i do my taxes.

The answer specifically depends upon how the house is titled. If the deed says your name and your mother's name as tenants in common, then a sale...

I have a client who is selling her home as non-owner occupied for 600k. capital gains 2012 vs 2013

First, it depends on whether your client has any gain. If so, how much? If the gain is under $200k, it will not make a tax difference. On a...

I filed my taxes, Married filing separately, does this relieve me of my spouse's tax obligation?

The accountant has not provided accurate information to you. You are not responsible for your husband's taxes if you filed as married filing...

If i failed to file my taxes this year even though I don't owe money , will it be a problem?

You should file your federal and state tax returns. If you do not filed the tax returns, the statute of limitations never starts to run. That means...

Should i re-organize my business as a holding company that owns operational companies?

It sounds like you already have a complicated business structure. There are very few reasons that it LLC should be treated as an S corporation....

There is no reason for you to set up a corporation or limited liability company. You are rendering personal services and since there is for a...

Are there any limitations on what foreign nationals invest in a U.S. LLC?

A limited liability company can own any kind of asset. Even if the limited liability company is owned by a foreign national, that does not limit...

Tax Question I have not filed tax returns for a number of years I want to correct this situation

Your question states that you have not filed a tax return for "a number of years". It sounds like you don't know when is the last time that you...