How much would they be on a house appraised at 500,000.00?
Who knows how they were paid. You could call the County and ask or have the accountant produce a receipt. Absent that, the assumption would be that...
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Who knows how they were paid. You could call the County and ask or have the accountant produce a receipt. Absent that, the assumption would be that...
It would probably still be capital gains unless there was a distribution. You should look in to having a CPA or estate attorney handle the returns...
The taxes paid by the Indian partners will depend on the corporate election made by the LLC. LLC's that do not elect treatment as a corporation are...
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Not at this point. You might see if the property is ever offered for sale again.
Unfortunately, botched ITIN applications are a common complaint here regarding this company. You need to contact a tax attorney or CPA who also...
Gains taxes are filed and paid at the time the tax return is due (April 15 for trusts or individuals, other types vary). What or how you will pay...
You need a tax attorney who specializes in international tax issues (notably, offshore disclosure issues). The only real way to make sure you are...
You will need to hire a tax attorney to take care of this for you. After the CP2000 comes the Statutory Notice and at that point, you are left with...
This is a purchase of a house and involves a number of complicated legal and tax issues. Just because it is a private owner sale (i.e., no real...
Forgiveness of debt on Form 1099-C is considered income by the IRS. There are some exceptions to this which can be claimed. You stated that the...