The return has been received by the IRS and it is being processed. While generally refunds are issued fairly quickly when a return is...

Will someone go to jail for ACCIDENTALLY NOT FILING a tax return worth $23k ?

It is highly unlikely that the IRS will refer your cousin's case for criminal prosecution for failure to file a return and pay taxes. While both...

Claim Insurance on Federal Taxes?

You do not state what type of insurance is involved. Assuming you are the beneficiary of a life insurance policy: 1. Life insurance proceeds you...

A gift is not taxable to the person who receives the gift. The $15,000 threshold you refer to applies to the person who makes the gift. The donor...

Unfortunately, since your disability benefit is not service-connected (i.e. a veteran's type benefit), it is not exempt from levy by the IRS. The...

Corporate officers are not liable for corporate debt except under limited circumstances. Some of the exceptions to the rule are if the officer...

I am in the midst of a Chapter 7 bankruptcy, and became unemployed. Do I inform my bankruptcy attorney? How will this effect me

If you are represented by an attorney you should discuss with him any changes and concerns you have about your case. However, since Chapter 7 is...

Once you receive the letter accepting your offer and comply with all its terms, you are done. The tax debt is satisfied and all liens released....

You can search the public records of the county where the property is located. If the IRS has filed a lien against your husband you will search...

Can I still gift my child 30k after my husband’s death?

If your husband has passed, he is unable to make a gift. You can gift your child the full $30,000, but if you do so you will be required to file a...