Will i pay capital gains on a house that caught fire when i sell it

There is also the casualty loss tax issue to deal with. But if the home was principal residence for 2 of the past five years and you owned it for 2...

Is it too late to apply for 1031 tax exchange for a real estate closing transaction within 2 weeks? how much is the filing fee?

You need, by law, to use a third party intermediary. I believe most if not all the large title companies have a 1031 exchange division. But yes...

I bought a property with a friend.Now my friend got a federal tax lien for his unpd taxes. How to remove him from the loan?

Your home is not at great risk. You friend needs to address the tax situation. If you try to sell the home, it will require lots of paperwork and...

If I give a 200,000 dollar gift to my wife how much taxes do I pay ?

Under current law, any gifts between spouses have an unlimited marital deduction, as long as both spouses are either US citizens or resident...

Irs

Call the IRS back and get the mix up corrected.

You are not responsible for his taxes. However, his noncompliance with the taxes is having an adverse effect on his life and he should contact one...

Can the IRS over ride a divorce degree verdict?

Yes it is. The IRS doesn't consider itself bound by divorce decrees. If you signed the return you are responsible for the tax on it.

I want to declare Chapter 7 bankruptcy I didnt file taxes from 2007 to 2010. I am current 2011-2017. Please advise.

The determination of dischargeability of taxes in bankruptcy is a complicated endeavor. A thorough, detailed analysis of your account transcripts...

Other than talking to some higher up responsible persons at Block, that is your only remedy. If you are due refunds, there won't be penalties. IRS...

Will the IRS get involved?

It depends. Even though he is in non collectible status the lien that arises by operation of law when the demand for payment is made by the IRS is...