My son has a trust fund that pays for college, does he have to claim that money as income on his taxes?

It depends on the Trust and how the money is handled. Most Trusts are set up to remit educational funds directly to the institution, so there are...

Am I responsible for daughters medical bills if I claim her as dependent on taxes.

For tax purposes, you aren't liable for medical expenses in addition to what you have paid.

Tax problem

You need to contact a tax attorney or CPA today. There is a very short time limitation on contesting a notice of levy via collections due process....

You can do this to "home" the LLC to a particular state (and, yes, you'll want one with no tax on out of state business). However, you pay taxes...

Yes, you have the legal right to file an amended return after being audited. However, what you filed only makes your situation worse. Going from...

How do I proceed with this bizarre letter from IRS claiming they have my payment but no tax return for 2013?

You need to speak with a CPA or tax attorney. They could access your tax records to see if a return is on file for the year in question. In terms...

Hi everybody Brief few days in NJ,never pay taxes working with an airline as flight attendant . How can i apply citizenchip th

You need to contact both a tax attorney and immigration attorney ASAP. As a green card holder, you are required to report and pay taxes on any...

Can I do a 1031 Tax-deferred Exchange by selling one rental property, and putting the money into a second rental I already own?

Maybe. You would need to set up a consultation with a tax attorney who handles real estate matters and give a lot more information about what you...

Taxation of US subsidiary

Yes, you will have a number of tax consequences. It sounds like this was not set up correctly from the outset and will require some work to fix so...

Do foreigners who pay cash for a home in USA have to pay property taxes?

Yep, property taxes apply to the property, not the residency status of the owner.