Limit for funds transfer from India into US to payoff loan. Any taxes applicable here again ?

You are a resident for US income tax purposes and therefore taxed on your world wide income. You will have to declare the sale of the apartment in...

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My question is, why is this reported as actual money the estate had when it this money was not paid? Is this considered a gift?

My first thought is why are you bringing something up that happened 8 to 9 years ago. The time to have questioned the return was back in 2007 when...

Does this incur any gift tax to me / giver. What are the annual limits Would it be advisable to split between me and wife

Gift tax is paid by the person who gives the gift and not the person who receives it. Currently a donor can gift $14,000 per person free of gift...

Can I request an extension to file my federal and state taxes?

You may request an extension to file your 2015 federal income tax return by the due date of the return which is April. 18, 2016. However, an...

Do We Owe Inheritance Tax On Land Sold in Louisiana Heirs Live in Different States

It all depends. Since your grandmother passed away owning the property, the general rule is that the basis of the property for determining gain...

How can I stop paying child support.

This is not really a tax question but a family matter. I recommend that you address your question to an attorney who is familiar with outstanding...

Can I use the old EIN number which I was using in incorporation or do I need to apply the new EIN number?

You should discuss this with your accountant. However, if you were incorporated and have now formed a new entity altogether I believe you should...

Is there anything I can do to not pay $1000 and to stop the harassment.

I am not sure why this popped up as a tax question since it clearly not. My recommendation is that you contact a copyright and trademark attorney...

How should I rectify tax filing mistake without any negative repercussions from the IRS in the future?

If everything on your return is correct, and using an incorrect form was an inadvertent error, the filing would not be considered fraudulent. I...

Do I need to wait until the end of tax season to file an amendment?

If you are asking about your federal income tax return, you have 3 years to amend a tax return from the time of filing or two years from the date...