I got a inheritance, situation is unique as there was no estate. Do I have to report or prove inheritance to IRS?

It sounds like your parent bypassed probate somehow, and the assets were given to the sibling to manage and distribute. If the sibling had legal...

Classification of Independent Contractors (ICs) vs. employees is complex, and the IRS considers a variety of factors. However, a key factor in...

How much is my taxable income this year?

What you are asking is what is the capital gains that you would recognize on the sale of your store. And without knowing more specifics, I cannot...

Can i use a no change letter given by the irs to Maryland tax audit?

While many states use Federal adjusted gross income (AGI) as a starting point in determining state taxable income, there are often differences...

You should consult an attorney who is experienced in federal estate tax to determine whether you are even required to pay tax on this bequest. ...

You may need to consult more than one lawyer to answer your question. First of all, you should consult an immigration attorney to determine...

Most CPAs have their clients sign a standard form agreement for preparing a client's taxes at the time the organizer is sent out and before work...

Withdrawals from your mother's IRA really have nothing to do with the trust, as the IRA was not an asset of the trust. When your sister withdrew...

My Mother has full on Dementia/Alzheimer's Can we still receive any gift income?

You can only receive a gift from your mother if she has a power of attorney with authority to make gifts. That means that the power of attorney...

How can I receive a gift from a future revocable trust?

Your sister is wise not to transfer any of your mother's property without first consulting an attorney who specializes in Elder Law or Medicaid...