What notices and/or time frame is the IRS required by law to adhere to prior to any lien/levy actions for outstanding tax bill?

The federal tax lien arises when any taxpayer liable to pay any federal tax fails to pay the tax after a demand for payment. So if they have sent...

What can I do if I don't have the income to pay my income tax? Will I lose my home

Gambling losses are deductible and can offset the gambling winnings. However, you can only deduct gambling losses if you itemize deductions, as...

What should my filing status be for filing taxes this year?

Regardless of where your spouse resides, if you are married, then you should indicate on your return that you are married. You are not able to...

Can I donate my house to the non-profit. Have it make the sale, payoff my mortgage, pay me over years, and save tax cost?

You currently have a mortgage on this property. If another entity (non-profit or not) pays off this mortgage for you, then this is income to you. ...

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Why do I need to claim a security deposit for an apartment I am renting as income on my taxes, when I didn't deduct it from my t

If the rental company included the security deposit as income on their return when you paid it to them, then it's possible that they're trying to...

Tax return

There is no way to determine what your tax liability is based on the limited information that you've provided. I assume that the $20,000 in self...

Who is the best ATTORNEY TO RESOLVE TAX ISSUES? NEGOTIATE A SETTLEMENT, OR SHOULD I FILE BANKRUPTCY?

Due to ethical considerations, no attorney can advertise themselves as "the best," or otherwise suggest that the quality of their representation is...

Do I need to file and LLC tax return

If you are the only owner of the LLC, then the income and expenses of the business are reported on Schedule C of your individual tax return. If...

Tax return with 1099 c form

A Form 1099-C indicates that a debt you previously owed has been forgiven or otherwise canceled. Because you previously had a financial obligation...

Can 2010 taxes still be audited

Returns can generally be audited within a 6 year period of the filing date of the return. This is due to the fact that if the audit uncovers any...