Will my father have to pay gift taxes if he puts me on his account as joint owner?
You likely will not have any gift tax issues. However, as you have signature authority over a foreign bank account, you may have to file an annual...
Atlanta, GA
Tax Lawyer at Atlanta, GA
Practice Areas: Tax, Business, Estate Planning
You likely will not have any gift tax issues. However, as you have signature authority over a foreign bank account, you may have to file an annual...
NO, they will not abate your trust fund recovery penalty. However, if you turn this person in, and the IRS does indeed collect tax from him that...
Good question. First of all, you need a regular CPA for your income tax advice. Second, you will need to make the informed decision, with the...
What are you gathering evidence for? Your question is too vague.
Because you could possibly be in a problematic situation, I recommend you consult with a tax attorney before doing or filing anything.
Although I do not know enough of the facts to make an educated guess, this situation does not fall within the bounds of what the government would...
Go to the IRS website, www.irs.gov, and search for Form 3949-A. It will be easy to fill out. However, expect a very long time before you get a...
There is nothing about this scheme that appears proper. Your dad is going to eventually have to hire a tax attorney if he engages in this plan.
Your question poses the typical scenario where it is so important to enlist an attorney to assist and guide in establishing a business correctly.
Your best bet would be to contact the firm that actually prepared the form and ask them.