Assuming that you sell the land for more $$$ than you paid for it, then you will have capital gains and you will have to pay tax on those gains.

It sounds as though your attorney "friend" is not being very responsible and is giving you bad legal advice. Your house will not automatically...

A let depends on when you filed your 2024 income tax return and how it was filed: paper tax returns take longer to process than efiled tax...

You are wise to encourage your siblings to seek out expert legal assistance with the administration of this trust. In addition to providing legal...

No attorney can advise you on this until after first reviewing the trust document. You should consult an expert trust & estate attorney.

The best defense against a future will contest is careful planning and well-drafted documents. An expert estate planning attorney can help you...

You cannot get the professional assistance that you need by posting questions on the internet. The penalties for FBAR/FATCA violations are...

If you have unfiled returns IRS can prepare a tax return for you, known as an SFR. Then, if you owe income tax based on the SFR, IRS can levy...

Unpaid taxes are a lien on the property and will pass to whoever buys the property. As for the "20% tax agreement" that you mentioned in your...

It is unclear from your question exactly what happened. You would be wise to consult an expert probate or tax attorney in your area to discuss...