Will I be fined for taxes on money I inherit if the taxes were not paid to the IRS before disbursement?

Generally, you will not owe taxes or penalties on funds you receive by gift or inheritance. However, if you inherit a tax deferred plan, such as an...

Will the IRS know if I used my ITIN for work purposes?

Whether you are authorized to work, and sometimes what kind of work you can do, depends on your visa or immigration classification. Regardless, you...

I lost in court and was ordered to pay attorneys fees to the Plaintiff and his attorney. Do I send those persons a 1099?

Generally, individuals are not required to issue 1099's unless they are a sole proprietorship business. If you are represented by an attorney, he...

Am I responsible for any of the 5 years of back taxes on my sisters house if the homeowners association sold it?

The back taxes should have been paid out of the foreclosure sales proceeds, if any were due. You may need to retain an attorney to check on this...

How can I get a CERTIFIED Tax Transcript for 2014? Please Help me. It's very urgent. it is needed for my wife citizenship

You may also obtain a noncertified transcripts at the following IRS website http://www.irs.gov/Individuals/Income-Verification-Express-Service, or...

BUNCH OF TAX DEBT THANKS TO A SHADY TAX RETURN PREPARER. AND NOW I'VE GOT A $912 LEVY ON MY PAYCHECK

You should probably call the IRS and request a payment plan. If you agree to a payment plan with the IRS they will release the wage levy. If you...

Can I sue a tax preparer for adding deductions that we did not have .

Yes, you can sue the preparer for the mistake, but your damages would only be what you paid him and the late payment penalty and interest, because...

Although proceeds of life insurance are exempt from income tax on the proceeds itself, once the proceeds are received by you and in your...

Can I apply for an Offer in Compromise for student loans?

No - the liability for student loans is administered by a different agency of the US Government, or by state agencies or loan companies, depending...

What local, state and federal taxes are applicable for a dba and it going to be a sole proprietor bussines

Mr. Vasquez has given you a good heads up to get started. A more definite answer may be available by consulting with a knowledgeable tax CPA or...