Where in the US code does it talk about canceled debt may be taxable?

Section 61. The increase to net worth. Perhaps the easiest question asked here.

Does the personal check for processing fees for I 539 ( Extension of B2) need to be from my name?

I do not know b/c I don't work in that area, but I SERIOUSLY DOUBT that it makes any difference at all who pays the filing fee. Hopefully the check...

My husband/we owes back taxes of 20K. I have just inherited 50K. Should we file separate for 2018 so the IRS doesnt take the 20K

It doesn't matter if you file separately for THIS year as to whether you're liable for THAT year. What matters is how you hold title to assets. If...

Tax question?

In my years of practice, dentists are notoriously famous for the practice of having plenty of staff for the entire week but none are full-time. The...

Do I have to claim in my taxes a cancellation of debt?

Didn’t you ask this question yesterday? I already answered it.

What’s missing from the answers above is that you should use form 982 to show the IRS why you are excluding it.. There are several boxes to choose...

Am married but filing single what will happen to me if the it's fines out.

There’s a good chance it’s will fine out. Do it the Wright way.

The first question is whether it’s proper to treat you as an independent contractor in the first place. I use several independent contractors that...

Can IRS take widows income tax(home,property) for unpaid taxes owed by deceased husband when he filed married living separately?

Short answer is no. You need to hire someone to pull Account Transcripts to see what’s going on. Small matter to inquire.

Why do I owe FEMA-related IRS taxes five years after bankruptcy?

You could amend 2016 and attach form 982 stating your debt was discharged in bankruptcy so was not taxable. Also file the Petition to Tax Court (if...