RENTAL HOME DEPRECIATION

Assuming you are renting it out at fair market value, you can depreciate the home. Your tax basis is the fair market value at the date of your...

I have not received child support in 2 years. My ex gets to claim 1 of our 2 daughters on his taxes. I'm going to file first.

I am assuming that your question is whether you can claim both daughters by filing first. By filing first and claiming both daughters, the iRS may...

There are options here. If the equity is 100% yours, the lien can be removed. If the equity is, in part, your ex-husband's, then you may be able...

Does the IRS go after someone who has a side job making about $25k ?

All of the previous answers are correct and helpful. The bottom line is that you need to report all of your income, period! Don't mess around. ...

My father - non US person- transferred some money to me before I come to the states. I never reported this money, Do I need to

You have given us only the tip of the iceberg and I urge you to see an attorney. That being said, allow me to deal with some of the questions that...

How fast can the irs accept an offer of compromise?

I agree with the conclusions of the other two attorneys that the offer will not be accepted. The fastest acceptance I have ever seen is about 5...

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My husband owe the IRS, and add me to his insurance, I do you think I will have to pay his penalty for owing the Government

This is your husband's debt, not yours. You have no liability for his taxes unless you filed a joint tax return with him. You stated that you...

If I live in a tax free state but commute/work in a heavily taxed state, will I be taxed? i.e Nevada/Wash to California/Oregon.

Normally, you will be taxed in the "heavily taxed" state only on the income allocable to that state. So, if you work 20% of the time with respect...

I received a notice that my wages will be garnished.should i file for bankruptcy

You have lots of options. Bankruptcy may or may not be a viable option. At worst case, you may pay the IRS over 72 months. That would work out...

Depending upon the circumstances and the wording of the specific order, Pendente Lite payments may be taxable to the recipient and deductible by...