The taxation of settlements is governed by the origin of the claim. If claim by its usual nature is taxable income, then the settlement (or the...

Tax implications

A capital gains tax is typically imposed when there is a sale of a capital asset. In this case, your gave the property to your family members so it...

What kind of documentation can i use instead of federal income tax return information?

I have had this come up before in my practice. You need to go ahead and file U.S. tax returns for the 10 years you lived outside the U.S. As a U.S....

Proof of Tax Status

I am assuming that you are a U.S. citizen. As a U.S. citizen you are taxed in the U.S. on your worldwide income. There is an exclusion from U.S....

Can I still get a tax return, while owing back child support?

The mechanism for using your tax refund to pay back child support is not the source of your problem. The child support amount determination is your...

Is a wife liable for husband's tax debt

It is possible that you could be responsible. This assumes that you file a joint tax return with your new husband, and do not otherwise qualify as...

The short answer is yes. The IRS is a super creditor, and can reach pretty much any asset including your home and retirement accounts. You should...

Can I face criminal prosecution for an outstanding tax bill

Failure to file and pay your federal taxes can be a crime. The IRS has a policy of not pursuing taxpyers criminally if they file and pay the past...

Is it possible to arrange an installment plan with the IRS for owed back taxes

The statue of limitations on collections begins to run from the date of filing of the original tax return. So if you timely filed your 2000 tax...

What is the best way to clean up potential tax evasion issue with IRS

You need to quickly get correct tax returns filed. Then you can deal with paying any outstanding tax lisbilities. You may pay in full, establish an...