if i liquidate the gold bullion coins in an inherited IRA do i pay capital gains tax or income tax on the proceeds ?
Michael's answer
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Answered on July 15, 2024
Liquidating the coins within an IRA will be a non-taxable event. Its the distribution from an inherited IRA which will cause you to recognize...
Will my mom be able to avoid paying a federal gift tax on a property she is gifting to me?
Michael's answer
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Answered on July 15, 2024
I generally agree with Mr. Rothenberg's response to file the IRS 709 and your mother won't owe anything out of pocket. However, to add a little...
If I requested to have federal taxes taken out and my employer failed to do so is there anything I can do?
Michael's answer
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Answered on July 13, 2024
First question to consider is are they treating you as an employee or an independent contractor? If they should be considering you an employee,...
If I sign a 4549B with my spouse, can I still submit an innocent spouse relief form?
Michael's answer
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Answered on July 12, 2024
You absolutely need to consult with a tax attorney before signing anything. If you have valid claims with respect innocent spouse relief, you...
Can my immigrant boyfriend work under my name as a 1099 contractor?
Michael's answer
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Answered on July 11, 2024
That sounds like it would be many different iterations of fraud. He should look at alternative approaches to work and you should not take part in...
Is this a scam?
Michael's answer
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Answered on July 10, 2024
Yes, this is a scam, this is not the way the IRS communicates.
If it helps, you can tell specifically by the way the date is written (9th Jul...
If we sale a house that was never rented or never was an investment how much taxes would we have to pay? It was bought for fami
Michael's answer
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Answered on July 08, 2024
Hello, if the house was never put into use as a rental, any sale would be taxed as a long term capital gain. From an IRS perspective, a long term...
How would taxation work for a US citizen living in Italy who works for a US employer?
Michael's answer
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Answered on July 07, 2024
You don't say if you are a United States Citizen or Green Card holder. If you are neither of those things, and are an EU citizen as you say,...
Can I change my filing status to 1040x after I already filed and the irs took my refund.
Michael's answer
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Answered on July 06, 2024
Hi Teasha, the correct form to file an amended return is a 1040X and it has to be for a specific year. However, if the IRS has already sent you a...
I have been audited by the irs for 176k, for a crypto comanies servor error in 2022. i make 30 k a year. Can i sue them?
Michael's answer
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Answered on July 01, 2024
I think you should first consult with a tax lawyer to clear the issue with the IRS. In order to have a successful claim against the bitcoin...
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