I am 73 and own stock in a closely held corporation. I and my wife want to give the stock to our 6 kids.

It is combined between both taxes. Whatever amount was not used up in your lifetime due to gift taxes goes to the estate tax.

Do i have to include in my divorce decree who claims which children for federal taxes?

Custodial parent (one with whom child lives the greater number of nights) is allowed to claim child on tax return unless exemption is released to...

If I receive a settlement check from an accident is it reportable on income tax, and if you have dentists bill is it deductible,

Pain and suffering damages are not taxable. If you got damages for lost wages or even punitive damages, they would be taxable. Dentist bill is...

All income, including illegal income must be reported on your taxes. In your case, the income would be self employment income to be reported on a...

Can I claim my daughter from my previous same-sex relationship on my tax return?

What makes your situation a little tricky is that you are not the birth mother. Unfortunately, this particular area is not well defined in the...

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Estranged husband filed head of household on tax return and claimed his girlfriend's children as his niece and nephew.

If the kids are not related to him, then he cannot claim head of household. He should not have gotten Earned Income Credit for the kids. He...

How can I get tax information from my father?

Unfortunately, without a power of attorney, you won't be able to get this information from the IRS. It seems that perhaps the only way you will...

If I am paying child support am I allowed to claim dependents?

The kids have to live with you for over half the year or the custodial parent must sign the release of the exemption. Paying child support does...

IRS says I owe $24,000. I have not been able to recovered from losing my home and jobs are scarce. What should I do?

This is an instance in which you should speak with a tax attorney in your area to see if the attorney could negotiate on your behalf with the IRS.

Tax return

You don't get a refund of medical expenses paid. You only get a refund of taxes paid, unless you qualify for a refundable credit, such as the...