Yes you can. Should you, maybe, maybe not. As Mr. Cappuccio points out, it is very expensive from a tax standpoint to do so.

Tax evasion or tax saving

Tax evasion is a crime and could result in some sort of incarceration. You need to consult with a tax attorney that handles criminal tax matters to...

What’s the tax and any other issues will face by doing this ?

You don't have to pay tax on loan proceeds. Whether or not you have to pay a nursing home is a totally different issue that will require you...

I mailed a personal check to the IRS, it was cashed on March 18, 2018. I have received three notices that I have not paid taxes.

If the letter you received on August 27 was the response to your letter, then you need to continue to work toward resolving the issue. If it is a...

Will a 79 year old US citizen have to file a tax return in the US after selling a family property located in Ecuador?

The U.S. does not have any age limitations. She will have to report this transaction on her U.S. tax return and possibly owe taxes if there is a...

What can I do if My husband claimed we filed joint taxes in 2013 the day my support was ordered. Which he didn’t t?

If you haven't filed taxes for 2013, you may have to file or may not have to file. I wouldn't know until I see what your income and withholding was...

How can I go about getting a one shot deal if I had gotten one in the past?

A capable tax attorney should be able to get the wage levy released for you and at the very least, have it reduced so you can meet basic living...

Can i hire a tax attorney on a contingency basis to get paid from the return in order to process 3 years back taxes?

While a tax preparer cannot prepare taxes on a contingent basis, meaning a percentage of the refund, they can wait and take their fee once you are...

Do I need to get my taxes done in 2019?

Are you required to file a tax return? I don't know. Should you file a tax return? Yes. You start the three statute of limitations. You get a...

Has anyone had a client that paid income taxes twice because the IRS cash their check but lost the funds and could not find them

My clients don't pay their taxes twice. If they can't pay their taxes then arrangements are worked out with the IRS.