The IRS is a federal agency and the income tax return you file with the IRS in California is the same return you file with them in Florida. The...

Whether or not you were required to file an FBAR in previous years depends on the amount of money in the account. If you were required to file an...

Since you are legally married, you and your wife can file your return as married filing jointly. You say that you bought the condo you in 2008 and...

The IRS has very specific rules regarding the tax benefits for children of divorced parents. Instead of detailing all that here, I think the best...

You would have to reach out to an experienced and knowledgeable tax attorney who can thoroughly review your specific situation and determine what...

Under the IRS default regulations, a single member LLC is a disregarded entity for tax purposes and reports income/expenses on the owner's 1040...

As long as you declare all the income you earn from the jobs and pay the taxes due, there is no problem. If these are 1099 positions (not W-2) then...

A bankruptcy can discharge a judgment debt. It is best to consult with a knowledgeable bankruptcy attorney to review your particular situation to...

You are correct. In 2022, a donor is allowed to gift $16,000 to a single person tax free. If the gift is over $16,000, as in your case, the donor...

The IRS advises taxpayers not to use these types of companies. They are included in the IRS Dirty Dozen list of scams. You can confirm this by...