IRS is this true

US citizens are taxed on their worldwide income. So, if person born abroad is a US citizen because his/her parents are US citizens then the person...

Received 1099-C for cancelled credit card debt. Excluding from income by f982. I am confused about line 10a. Please help!

You need to consult with a tax attorney or CPA to make sure your return is prepared correctly.

Didn't receive 1099 or W2 from my ex-employer. Do I have to pay taxes?

Yes you do. Even though you did not receive a 1099 or W2 you still had income. The money you received as result of judgment is taxable as income...

If I go back to school before getting divorced can my sister claim us as dependents?

In order to claim someone as a dependent there are certain requirements that need to be satisfied. The main ones are that the person lived with the...

What to do if ex claimed child on taxes and was not entitled to:

If you qualify to claim your child as exempt you can file your return doing so. When the IRS gets it eventually they will see that two people have...

What can I do about my TAX debt???

Unfortunately when a joint return is filed both spouses are fully liable for the tax debt. It does matter what the divorce papers say. The IRS was...

Can the filing fee for a Ch7 Bankruptcy be waived or reduced for low income families?

Yes, the filing fee can be waived. Your attorney can file the pettion requesting waiver and if you meet financial requirements the judge will enter...

Were do I file my Form 8379 Injured Spouse Allocation, If I filed my Joint Tax Return Electronically?

Per the instructions: If you file your Form 8379 by itself after you filed your original joint return electronically Then you must send the...

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I signed tax form 8332 for a friend who is not a relative of anyway to my child nor did they support my child or live with my ch

That is odd since Form 8332 is used when a custodial parent releases the exemption to the non-custodial parent. It does not appear from your facts...

I have an LLC and I am the sole member. I had a net loss in 2015. Do I have to file state taxes?

The following link may help you: http://www.tax.ohio.gov/portals/0/forms/ohio_individual/individual/2015/PIT_IT1040_Booklet.pdf This is not...