I owe back taxes for more than one year. Must the IRS allocate payments I make to the oldest (largest) tax bill?

There are opinions on record which state that the I.R.S. can apply payments in a manner that is most beneficial to the I.R.S. This means that they...

This would depend upon the nature of his conviction. If the conviction is related to a crime involving truthfulness (such as fraud, larceny by...

Claiming child on taxes when divorced

Your verbal agreement will likely not be upheld in a court of law due to the fact that it spans more than one year. Any contract or agreement that...

Can I write off a swimming pool if my wife was born with a heart defect and can't exercise normally?

You may wish to contact the I.R.S. in order to get a personal opinion drafted for your specific situation. If you attempt to write this off, you...

I live in TX and Inherited a personal bank account from my father in law. Do I have to claim the monies as income on my taxes

Any amount earned after accepting the account (such as interest) will be reported as taxable income, but the account itself will not. The only...

I pay 524 a month for my child and i agreed with the mother to pay 400 a month and she get every year taxes

If this was a verbal agreement, then it likely can not be upheld, as it violates the statute of frauds in that is an ongoing agreement that can not...

When I was Working,then was out on Social Security Diabelity,not enough taxes where taken Out ,!70.00 per month comes out of My,

Is this levy from the I.R.S. or state department of revenue? Either way, you should be able to contact a taxpayer advocate at the I.R.S. or state...

Federal tax misfiled by large tax preparation firm--IRS audit and penalties. What are my options for suing the tax prep firm?

You will first want to check with the preparation firm to determine if they have any guarantees or policies regarding incorrectly filed returns. ...

My employer has been issuing me a 1099 for 4 years now and I use all of his equipment should he pay 1/2 of taxes & soc security

While he is "avoiding" paying taxes by giving you a 1099, he is not cheating the system. Unless he is paying you an amount that, after you pay...

Are the owners of an S corp personally liable for unpaid payroll taxes?

Yes, they can be. Any individual who is responsible for submitting returns and paying taxes could be held responsible, thus it can be more than...