ILITS

Many people believe that life insurance death benefits are not part of their taxable estate because they have heard that death benefits are "tax...

Gift splitting

There are several items of information I would need to know before appropriately responding to your question. I suggest that you either consult an...

Filing taxes for my kids who I only get summer and winter vacation.

Whatever comes of the divorce decree or separation agreement, you should familiarize yourself with Form 8332, Release/Revocation of Release of...

Yes. The "S corporation" is defined at Section 1361(a)(1) of the Internal Revenue Code ("IRC"). Certain businesses properly incorporated by a...

Owe back taxes

Section 6331(k)(2)(C) of the Internal Revenue Code precludes the Internal Revenue Service ("IRS") from issuing a bank or wage levy so long as you...