Me and my wife received a wrongful death settlement and we gifted out about one million dollars of it to family and friends.

The gift taxable. However, you and your wife each have a $5 Million exclusion over your lifetime. As long as you do not exceed that, you will...

My dad died without a will. Mom wants to transfer both vehicles into her name.There are three heirs ,one heir refuses to sign .

Ms Garland is correct in stating that you need to open the succession. If there is not much property, the succession can be completed rather...

Taxation of damages are based on the claim or income they replace. Since liquidated damages are found in contracts, if the original income to be...

My parents want to donate all their interest in their home to me. Too avoid issues with other siblings when they pass away.

I certainly understand the family concerns. What you are contemplating is not actually a donation. A donation is the giving of one thing to a...

Does my moms name being on the charter for business give her heirs any say or ownership of business?

The LLC will pass in one of three ways. If she had a will which stated where the interest should go, then that would control. If she either did...

Is a new wife entailed to her half of the tax return when husband owes back taxes ?

I am assuming you mean a refund from a return recently filed. Typically, the IRS will withhold the entire refund.

How do I file income without 1099

Include those amounts on your Schedule C. It may be helpful to add them together on a spreadsheet. Then add the total to the 1099 income.

If you haven't files tax return for 15 years or more, and willing to get it resolved. What would happen?

You need a Tax Attorney ASAP. Typically if you self report, criminal investigations are avoided. But, there is no guarantee. You will definitely...

Is the IRS tax return transcript equivalent to a copy of a tax return?

The transcripts show what was on your returns, but they are not set up the same as the originals. Usually, transcripts will suffice as it shows...

You do not have to change your exemptions, but you can. You are allowed to maintain only one exemption and have much more than is necessary...

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