Assuming that the business assets you are exchanging for the debt are worth what you owe, the debt is not forgiven, but paid in full. Yes - this...

If you already filed a Form 2553 S Corp election, you do not need to amend it for change in number of shareholders. Your question indicates you do...

It appears, based on the incomplete information you provided, that you may be a part-time resident of VA for state income tax, and liable for VA...

If the house has appreciated in value since the date of death of Mom, then it is likely that you may have a taxable gain to report.

I would suggest you contact the Texas Workforce Commission (TWC). If you file a complaint with them, they will investigate the issue and make a...

Yes - if you are an heir in the chain of title, which per your question it appears you may be, the county may sue you for unpaid back property taxes.

If you can show you are taking steps to file the returns, you can avoid criminal liability. You should contact a return preparer and get your prior...

It appears as you state that you do not qualify for per diem. However, if you are an independent contractor, and get a 1099 at end of year, you may...

Per below 31.03 As per Texas Property Tax Code 31.03, tax assessors can offer payment plans to property owners who pay at least 50% of the...

A married couple can only claim one homestead exemption, even is separated and living in separate homes.