My ex-wife and i owe back taxes to irs in yrs 2003/2004. we were divorced in 2005, do we not both owe these taxes

Since you and your wife apparently owe the tax, I assume you filed a joint return. Therefore, the IRS can collect the entire amount from either...

In chapter 7, could someone please break down / simplify the checklist for when tax debt to the IRS or state can be discharged?

As to IRS debt, it is important to note that only income tax is dischargeable in bankruptcy. Estate taxes, gift taxes or excise taxes are not...

IRS letter regarding income

Any response to your question must be qualified and subject to a review of the both the IRS letter and the consolidated 1099 issued by your...

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How to calculate capital gain taxes on the disposition of rental property?

The rental property will not qualify for capital gains tax exclusion under the Mortgage Cancellation Tax Relief Act, which is scheduled to expire...

Unfortunately, "operating" a vehicle can include simply having the ignition on and the car running without the car being in gear. In fact, in some...

Yes. The IRS can either directly garnish your social security check from the social security administration or attach a bank account in which the...

My brother recently died. He owns 1/3 of our property which is under our names. His wife and their children would like to sell

The extent of taxes due depends upon the value of the decedent's 1/3 interest at the time of death and the decedent's basis in the property. ...

My brother recently died. He owns 1/3 of our property which is under our names. His wife and their children would like to sell

The extent of taxes due depends upon the value of the decedent's 1/3 interest at the time of death and the decedent's basis in the property. ...

Can your state seize your social security income or pension if you owe taxes and are unable to pay all at once?

The State of Missouri can not attach your social security income or your pension income. According to Section 207 of the Social Security...

Do I have to pay US tax on a legal settlement in Canada???

Whether or not a tax is required depends on how the settlement agreement is structured. In other words, the taxability of the damages received...