What do my spouse and I need to do in order to avoid the situation of 'quiet disclosure' on our 2024 tax return?
Kaye's answer
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Answered on March 26, 2025
You should consult a CPA or enrolled agent who is experienced in FBAR and FATCA reporting requirements. You will probably need to file for...
What would be best approach for taxes this year?
Kaye's answer
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Answered on March 26, 2025
Nobody can answer your questions without knowing more facts and doing a thorough analysis. Of course, it's a too late now for that, with April 15...
IRS Tax Return
Kaye's answer
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Answered on March 26, 2025
Don't call TAS --- they are already swamped, and they won't be able to help you. IRS is really short-staffed right now, as a lot of new hires...
Do I have to pay tax (if yes what type) if I sell a property outside of the US?
Kaye's answer
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Answered on March 26, 2025
Yes, as a green card holder you are required to pay tax on all of your income, including income from outside the US. You would report the income...
Taxes on employment lawsuit settlement? Settlement while on SDI/LTD?
Kaye's answer
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Answered on March 25, 2025
You should definitely consult a CPA or enrolled agent ---- BEFORE you spend or invest any of the settlement proceeds. The ENTIRE amount of the...
Does a Fiduciary and her attorney both get paid by the Estate?
Kaye's answer
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Answered on March 24, 2025
Executors & administrators actually do quite a lot of work --- even when an attorney is involved. Unfortunately, estate beneficiaries rarely know...
Do I have any say so if I have temp custody of grandchild from CPS?
Kaye's answer
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Answered on March 23, 2025
I totally get where you are coming from: you already have a lot on your plate without having to drive your grandchild back & forth to day care...
Best way too prove our bonafide marriage without living together or having finances together. ?
Kaye's answer
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Answered on March 23, 2025
A "Marriage Certificate" shows that you are legally married. You can obtain a certified copy of your marriage certificate from the same Probate...
How does 1099 NEC work I have been getting them since 2019 from my uncle but you see they never explained to me how this works
Kaye's answer
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Answered on March 23, 2025
You report income from a 1099 NEC on Schedule C of your personal income tax return. ...............................................
What are my options for filing taxes if I have no income for a tax year?
Kaye's answer
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Answered on March 22, 2025
If you receive a 1099 or W-2 that reports payment of income to you, you are required to report it. If the total amount of income is less than the...
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