Will the IRS take my house?

I doubt it. If you are on a payment plan, that means typically that they forego any other collection activity. It is also very rare that the IRS...

My mom had a Revocable Trust set up in 2004 for her. All of her assets, stock portfolios, house, etc. were put into the Trust.

A revocable living trust is not an asset protection trust (i.e., including Medicaid), it is a trust to avoid probate, keep matters private, handle...

Ask 10 people and you'll get 10 answers. Some audits are random. Most audits are based on income levels and certain types of deductions. If you...

Selected as the best answer

Can someone get a power of attorney if they are clearly physical and mentally able to make decisions on there own.

Mr. Frederick offers sound advice. Keep in mind that a power of attorney does not always mean the person giving it (principal) is incapacitatd in...

Can I sue a lawyer for negligence or something else for not completing a legal non-profit business incorporation in 2 years,

1. Hire a new lawyer, 2. I suppose you could investigate a claim for malpractice but you have to show actual damages (in addition to any legal fees...

Generally speaking a life insurance policy with named beneficiaries is what is called a non-probate asset. That means that the contract of life...

I wrote a will naming the beneficiaries of my car, condo, personal prop, and had it notarized. Is that sufficient in Virginia?

I am not a licensed VA attorney. However, all states require that a will be witnessed by at least 1 "disinterested" witness. It is also helpful to...

Paying income taxes on profit from house?

To expand on Mr. Frederick's answer: Under current law the house will receive stepped up basis which means that the value for INCOME tax purposes...

After 15 yrs paying me LTD payments, the Insurance Co. wants to see my Tax Return! What right do they have to that information?

I would want to review the policy information. Insurance companies regularly investigate fraud and do audits. It may simply be that you were...

What is the best method for writing a check from a sale of a house to a family member, listed in the will, that won't be taxed?

How can your Mom write a check from your grandfather's account? If this was your grandfather's home alone it is probate property, if the account...