Can I or my ex get in trouble for giving me some money from his dad's inheritance ?

The gift you does not cause any problems with the IRS nor is it criminal. He should get his tax problems straightened out now. His drug and...

Can I claim my kids for income tax this year?

The sticking point with your situation. The child must live with you more than half the year except for temporary absences. The guardianship...

Yes you are required to file W8BEN .Brokerage firms have very strong tax compliance departments, policies and procedures. This form established...

Do I have to go through probate to buy the house from my brother?

Wills require that you go through probate, hence the term probating the will. You need to execute your duties as executor. You can submit your...

Can the IRS tax you on a court settlement?

Determining the correct allocations among taxable payments and non-taxable payments is usually the most difficult part of the analysis. If...

It sounds to me like they are going to pay the LLC for the sale of your father's real estate owned personally. Why would you do that? If the...

How does a winning plaintiff typically minimize the tax burden of damages awarded by the court in relation to attorney fees?

Not enough information as different types of lawsuits give rise to different tax treatments. Most likely the attorney fees will be a misc itemized...

Corporate and personal income tax delinquincy

Sorry to hear about the business difficulties but it is important for you to step in and get the tax returns completed. Use a preparer that does...

Can a woman pass an inheritance to a step son upon her death tax free?

TN did away with its estate tax. The federal e emtion is over 5 million and indexed to conti ue to go up. Not knowing your estate value and prior...

Does anybody know what this so called paper that the IRS officer wants my husband to fill out?

It is possible the Revenue Officer is telling the truth. Your husband has to document under penalty of perjury that he has no assets or income. ...