Most booster clubs don't make enough money from year to year to have to worry about paying taxes --- so applying for tax exempt status is usually...

You need to think long term and not just about tomorrow's tax bill. Sooner or later you will want to sell your house in Illinois, and when you...

It's very possible that a return was prepared and filed, but it has not yet been processed by IRS --- especially if it was a paper return and not...

The short answer is this: if you sell for more than what you paid for it, then YES, you will owe capital gains tax, because this is not your...

You need to consult an expert probate/trust law attorney to review the trust document and prepare the necessary documents. Otherwise, you run the...

Somebody in the family -- either an executor or trustee -- should consult an expert probate law attorney to answer these types of questions. You...

Yes, you would report any capital gains in year 10. And you should have also been reporting interest income in years 1-9. Consult an EA or CPA...

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IRS is backed up right now. Be patient.

Without actually analyzing your IRS transcripts it's hard to determine what actually happened. You should consult a tax attorney who specializes...

Beginning in 2018, the limit on deductible mortgage interest was reduced to $750,000 of debt secured by your first and second home for binding...