What is the maximum amount of a monetary gift on which there is no tax?

Assuming your wife is a U.S. citizen, gifts from you to her are non-taxable. You can give her as much as you want in one or more payments and...

The issue here will be FIRPTA compliance more than anything else. While the transfer of the property by the NRA to a wholly owned foreign...

Is a spouse of a Beneficiary of an Estate allowed to directly communicate with counsel for the Plaintiff?

While attorneys are restricted from speaking to opposing parties represented by counsel, there is no restriction on a non-attorney party to...

Florida only imposes income tax on corporations. LLC’s, however, can be in the form of either a corporation, a partnership or a disregarded entity...

Can the IRS and Offer in Compromise?

The IRS engages in “offers in compromise” under various circumstances. The most common successful offers in compromise (which is a process in...

Do I need to pay taxes on $100970 I received in 2014 on wire transfers? My mom and grandma sold a house in Cuba.

If it was a gift from your non-resident alien mom and grandma, then there will be no tax. You do, however, have to file a Form 3520 to report the...