I got a CP2000 form from the IRS. As sole heir and executor, am I responsible to pay for extra tax if the estate is closed?

As personal representative you are responsible for making sure that all valid debts, especially taxes, are paid before the assets are distributed. ...

I need help. I havent filed taxes in 5-7 years. Im not sure what to do. Should I get a tax lawyer or an accountant to help me?

If your income is low enough, you may not owe any income tax, but self-employed persons must pay self-employment tax on all earned income. I agree...

If a retired parent turns over his house that is paid for to his child, Who pays property tax and home owners insurance ?

If no life estate was retained in the deed, the child is legally responsible as the sole legal owner. If a life estate was retained by the parent,...

How does Someone defend themselves against a foreign government enitity the IRS?

This is an argument some use to try to get out of paying taxes, but a U.S. citizen or permanent is legally bound to pay taxes and there is...

When my heirs calculate the value of my estate - estate tax purposes - include death benefits they receive from life insurance?

Yes, if you own the policy at the time of your death or gave it away within three years of your death, or if you retained "incidents of ownership"...

IF A TRUST IS CREATED IN NEW YORK, AND ONE OF TRUSTEES IS IN NEW YORK AND THE OTHER IS IN NORTH CAROLINE. ALL OF THE ASSESTS ARE

Probably New York, but this is a complicated area of the law, and to answer the question correctly, you will probably need an attorney to review...

No, it will not be a valid transfer. The LLC will first need to be reinstated.

It appears that there are a number of legal issues that may need to be addressed in this situation, but in terms of your specific question, it...

You cannot sue a trust itself; you have to sue the trustee in his or her capacity as trustee. In this case you would also sue the trustee in his...

California state's I owe taxes from 2001 but I didn't live or work there in 2001. And I filed my state and Fed taxes in GA.

Did you have any income originating from CA, such as rental income? If so, you will most likely have to file a CA return, but you should get at...