Archived
By law, does not the nonprofit have to release their financials to the public? I have concerns of their tax reports and they wil
Magda's answer
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Answered on March 09, 2016
In accordance with the IRS:
"Tax-exempt organizations must make annual returns and exemption applications filed with the IRS available for public...
Archived
Who has the right to claim my daughter as a dependent myself or my ex-wife?
My daughter is living with me full time and has for
Magda's answer
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Answered on March 09, 2016
Generally the custodial parent gets to claim the child as a dependent. In order for the non-custodial parent to be able to claim the child as a...
Archived
Do I have to refile, or will I get in trouble, if I do not file this, after I have already paid several thousands of dollars,
Magda's answer
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Answered on March 09, 2016
The tax effect would probably negligible. My recommendation is that you file amended returns to include this omitted income and pay the...
Archived
In an OIC that an offered amount is established, does the monthly payments get deducted from the offerred amount?
Magda's answer
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Answered on March 09, 2016
Assuming that the monthly payments are being made in conjunction with the submission of the offer, then yes. In your example if the offer were...
Archived
Is their anything i can do
Magda's answer
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Answered on March 09, 2016
I am not really sure what you filed, when you filed it and what you are expecting back.
I would start out by contacting JH and obtaining not only...
Archived
Would buying a home and putting the title into my daughters name be considered a income or gain for her and taxable?
Magda's answer
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Answered on March 09, 2016
The IRS does not provide legal advice. There are private letter rulings issued by the IRS, but that is an exception and not generally used for the...
Archived
Am I liable for her medical expenses? Should I continue to put her as a dependent on IRS return? does that compromise Medicaid?
Magda's answer
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Answered on March 09, 2016
Unless you co-signed or somehow assumed responsibility for the medical expenses at the time they were incurred you are not legally responsible for...
Archived
Do I need a lawyer to complete paperwork to finalize the transfer of the property? What do I need to know about inheritance tax?
Magda's answer
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Answered on March 08, 2016
I am not sure what you mean when you say you were "given the deed to one of his homes". Did these deed transfer the property to you or name you as...
How do I calculate Cost Basis of timber or Fair Market Value
Magda's answer
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Answered on March 08, 2016
In the case of an inheritance the basis of inherited property is generally the fair market value of the property on the date of the decedent's...
Archived
Is the equity in this home I don't live in going to keep me from doing bankruptcy?
Magda's answer
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Answered on March 08, 2016
You need to contact a knowledgeable and qualified bankruptcy attorney in Pennsylvania. They would be able to help you determine whether the house...