Forming an LLC.

As the others mentioned, I think an LLC would be a good idea given the nature of your business. Since you mentioned this is a hobby and not a...

When do I need to pay capital gain tax on the foreign house sold? The year house is sold or the time money is transferred to US?

It is reported in the year sold. You might be able to avoid paying taxes on any capital gain through a IRC 1031 like-kind exchange. The qualifying...

What can my husband do about claiming kids on taxes?

If the kids aren't qualifying relatives for the person(s), then no they cannot claim your kids as dependents.

Can I do small scale money transfer USA->India for friends and family?

When you convert foreign currency to USD, or vice versa, you can have reportable currency transaction gains. Gains from personal transactions under...

How do I settle my tax liens when irs will not work with me?

You didn't mention whether you tried to appeal the denial of the OIC or tried to resubmit it. These might be some options for you. You should...

If my federal income tax return had an error when I sent it to the IRS should I send it like that to the NVC or corrected?

Was it a correction or an adjustment? If it's just a correction (e.g., math error), then there's nothing further you need to do unless you want to...

I have handled many CA notices, and I agree with the other attorney. You need to contact a tax attorney. CA FTB is notorious for being aggressive...

2 SMLLCs - 1 or 2 EINs, 1 or 2 Schedule Cs. Can income and deductions/expenses be combined?

Yes, you should probably file two separate Schedule Cs. One advantage of doing so would be that in the event that one of the LLCs has 3 years or...

I discovered i owe back taxes after filing this years return, after the money i should have received was applied to that bill.

Agreed with all the answers above but just wanted to chime in as a former IRS auditor. It sounds like the IRS has filed substitute filed returns...

After filing FATCA related forms, how can I know how much taxes will be collected on Foreign Assets?

FATCA (Form 8939) is just an informational filing. The FATCA itself does not calculate tax. This issue requires many additional facts since there...