Lifetime Exclusion. Can you gift 4 people $50,000 without having to pay taxes on it?

You are essentially correct. The lifetime limit (now) is 5.43 million. You can gift up to $14K per person per year and 28K per person per year. ...

Selected as the best answer

I agree with Eric. There is also likely a number at the top of the form that you can use to call them and tell them what happened and then they...

I am planning to pull equity out of my rental property in VA and buy a primary residence in MD and want to understand tax issues

You won't be able to use either to deduct as an expense on sch. E because you are not using the loan as an expense on the rental property.

Can my payment towards a civil debt settlement case be a tax deduction since it came from my IRA?

You will need to provide the recipient with a 1099-Misc. Whether or not that income is excludable doesn't make a difference to your taxes. You...

Tax Returns - How important is it ? REMOVAL of conditions for a Green Card.

Super important! This isn't just about evidence of relationship here. Compliance with US tax laws is a requirement for immigration benefits. ...

Is there a form I can send a religious group to end my affiliation legally?

Most religious groups have their own procedures for disassociation. Your best bet is to contact the leader of your congregation and ask him how to...

Can a tax attorney help us?

I have dealt with these disputes before with the 1099-c. If you show the closing statement and file the correct exemption for COD income, you...

The IRS charged me 26000.00 the CPA got it direct Deposited to Him

Seek a tax attorney to help you sort out these issues. It will probably cost a couple - few thousand dollars. If you so desire, you can also sue...

What can be done, If the person I contract work from,Decline the order, by stating they are not responsible for my taxes etc1099

They can't garnish if you are in dependent contractor and get a 1099 because you are then not an employee. Your "employer" should be careful...

We are working on divorce settlement. How do I minimize tax liability on spousal support?

It depends on what the settlement says. If it is considered alimony, then it will be considered taxable. If he is living there for his benefit,...