Is it right for irs to take your full amount of your social scruity check and leave you with nothing to live on for that month

The IRS can garnish Social Security. While Social Security is exempt from most creditors, the IRS is an exception. Think of like this: You owe...

When selling your house how much is tax free? I was told 250,000. Also if there's two owners do they both get 250,000 tax free?

The general rule is that a single taxpayer who has lived in the home for 2 of the past 5 years can exclude up to $250,000 of income (profit). If a...

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Yes, you can claim your father as a dependent under the qualified relative rules. This requires that you provide at least half his support and...

Can I delacre donations/support made to a local church outside the U.S. when filing my tax returns in the U.S.?

I am not really sure about this. Check with the officials at the church. Even in the US, some donations to certain organizations that you would...

Mr. Tarnavsky provides sound advice. Something else to consider is the likelihood of success. You will probably have a greater chance of success...

Is a judgement of possession required if there is a living trust?

If a living trust was used to avoid probate, then any assets which were in the trust do not need a JOP. However, any assets which remained in the...

I have asked on here before, I called the legal aid dept. and they dont have an attorney avail. I now have my paper work,

An offer in compromise is a complicated and lengthy process. Try to stay clear of any national advertisers promising pennies on the dollar, as...

1. What kind of taxes do I have to pay? How much? Will I be taxed for past years income?

This somewhat depends on your immigration status. Since you hold a US Passport, I will assume that you will fall into the category that does not...

How can i keep from paying taxes on money gained for selling my home?

Generally, gain upon sale of your primary residence is exempt, up to $250,000.

Tax Question: If the bank modifies my mortgage loan (no second mortgage) and reduces the principal, do I have to pay taxes

The above answers are correct, but I would like to elaborate a little. First, cancellation of debt is considered income. So, the amount of...