Such letters have the ability for you to deny the liability and file an appeal. I suggest you consider doing both. If you truly did not receive...

In your situation I would file. If there is no tax due, normally there are no penalties. But, check with a local CPA or tax attorney. Also many...

What went wrong is that you did not use a QDRO (Qualified Domestic Relations Order) to transfer the funds from your IRA to that of your wife’s. I...

First thing you should do is to immediately get another accounting firm on board Do not wait any longer. You can request an abatement of...

Let me walk you through this piece by piece: #1: Upon the sale from son/daughter of property to mom and dad, there is no taxable transaction on...

If they get any further letters addressed to the company and without your parents name, they should not open the mail and simply return it and mark...

Please do not pursue this question online. Hire tax counsel to advise you. If you have a winning lottery ticket, this is not the place to discuss...

You should go to a CPA and let them run the numbers for you to get an estimate. The CPA will ask you many questions to make sure he/she can...

There us a negligence penalty that is often assessed for tax understatements of $5,000 or more. The penalty is 20% of the understatement of tax. ...

Most likely she will not be jailed. However, if she is intentionally not filing her returns and not paying her tax she is committing a crime. You...