Transferring partnership from one LLC to another without tax consequences

Not only may there be tax consequences of doing this, if you fail to do this properly you will probably violate your Operating Agreement. You...

Do we have to claim rent on our taxes?

Yes you would report rental income on Schedule E.

I believe the time frame for counsel to turn around an accepted offer is 45 days, but I'm sure in practice if they request an extension and notify...

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I incorporated my business as a s-corp and the IRS still attacked my personal funds. Can the IRS still take my funds

If the IRS has deemed you to be the responsible officer of the S-Corp you would likely have a trust fund recovery penalty against you personally. ...

IRS offshore voluntary disclosure question (OVDP)

The Power of Attorney receives copies of everything the client receives, I don't believe the attorney would have the requirement to sign.

How do I handle unpaid taxes when I want to dissolve my LLC?

If you had no employees, and never told the IRS that you were going to have employees, you really don't have a quarterly filing requirement for...

What date do creditors usually put in box 1 of 1099-c as the "identifiable event"? date of agreement letter or actual discharge?

You would fill out a separate 982 for each form 1099-C received because the date each debt was cancelled will be different and so will your assets...

In General, the IRS has ten years from the date a tax liability is assessed in order to collect on such a debt. However, there are circumstances...

What "event" determines the IRS definition of COD (Cancellation of Debt) ? creditor letter date? payoff date? 12-31 of

You hit it on the head with your last question. The 1099-C form that you receive will have a date debt cancelled on date that you would use. So...

My question is I recently received some papers from IRS for garnishment of my wages for unfiled state taxes and need advice

Is the paperwork from the IRS or from the Mississippi Department of Revenue? It is unlikely the IRS would levy your wages for unfiled state tax...