Archived
I do not have any income, but I owe income tax on money I took out of a tax deferred account(s), so I could keep my house.
Charlotte's answer
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Answered on April 11, 2017
It may depend on whether it was an IRA or a 401K as to whether you can be relieved of the 10% penalty. Regardless of the situation, you have...
Archived
How do I contest a note of federal tax due?
Charlotte's answer
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Answered on April 11, 2017
Talk to a Tax attorney. It would probably take a couple hours of time to clear it up. It shouldn't cost too much money. You could try calling...
Archived
Change tax from married separately to married jointly
Charlotte's answer
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Answered on April 11, 2017
If both parties agree, the return can be amended to married filing jointly.
Archived
My mom wants to give me 65k, but not sure if she'll be taxed on it or not?
Charlotte's answer
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Answered on April 11, 2017
A person can gift 14K per person per year without the need to file a gift tax return. If your mom intends to gift you $65K in one year, 14K would...
Archived
Tax
Charlotte's answer
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Answered on April 11, 2017
Sounds like you are better off.
You can file married filing separately with your documents alone. You do not need his and because you are...
Archived
Do I have to pay taxes on money I received in a divorce settlement in 2016
Charlotte's answer
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Answered on April 11, 2017
If this was a division of the assets and not alimony, then no, you likely do not need to pay tax on that money.
Does a tax refund have to be split when getting a divorce?
Charlotte's answer
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Answered on April 11, 2017
He is totally entitled to file married filing separately and receive that refund back since that amount represents the amount of money he overpaid...
Archived
Would this qualify as a controlled group for IRS purposes?
Charlotte's answer
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Answered on April 10, 2017
No, it is not a controlled group if the LLC's other 50% ownership is owned by a third company or separate corporation. Controlled groups require...
Archived
How long, after filing deceased parent tax return, should I wait before final distribution of funds to heirs?
Charlotte's answer
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Answered on April 10, 2017
Did the trust also file its return?
You should discuss this with a probate or tax attorney. The tax attorney could pull transcripts to ensure...
Is my wife liable for my portion of the tax owed if we file married separate return.
Charlotte's answer
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Answered on April 10, 2017
If you file married filing separately, then your wife is not liable for the taxes. I am not sure if an offer in compromise is appropriate as I do...
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