Thanks for the question, there are options to reduce tax, penalty and interest owed to the Illinois Department of Revenue. You should probably...

Usually the IRS will advise what information they received that is causing them to question what was placed on the return. You should consult...

Yes, unemployment income is taxable income at the Federal level. There was a potential for an exclusion from income of $10,200 (depending on...

I agree with Ms. Willi for moving forward, but that still begs the question of what to be done about the past. The IRS (may) expect to see revenue...

What is the cost basis for tax purposes? Is it claimed on this years taxes or when I sell?

I believe the IRS would likely conclude that you have received two different cost basis in the property. The first you received when your mother...

If the IRS is not allowed to regulate tax preparers. Can the IRS criminal division investigate tax preparers ?

I agree with all of the attorneys who have posted; I would also tell you that if you have been notified by the Department of Justice that you have...

Can I partly carry S-Corp Net Operating Loss to both past and future years?

The general rules surrounding NOL's are that you must carry back the NOL two years before the current year return, then to the preceding year...

There is a detailed process; it may require more than a W-4 submission. You will likely also be requested to supply current pay stubs for all jobs...

Capital gain taxes

Yes you will have to pay taxes and more information is necessary. Contact your a CPA or Attorney to help you.

What process do we need to go through for taxes when we hire an employee for a "trial period" and decide not to keep them on?

You answered your own question within the question. Because you consider the worker an "employee" rather than an "independent contractor" you must...