Is the Generation Skipping Transfer Tax exemption separate from the estate tax and lifetime gift tax exemptions?

Enclosed below is an excerpt from my seminar on federal taxes. The GST tax is separate from estate/gift tax, and has different tax rates and...

Is it tax fraud? I am confused what to do.

There is criminal fraud (penalties of imprisonment and fines) and there is civil fraud (75% penalty on taxes). The IRS generally does not prosecute...

I need Income Tax Returns transcripts from my Daughter but she has not time to look for it. How can I find it by myself?

Your daughter can call the IRS, or visit the IRS at irs.gov, and request copies of her tax return transcripts. She will need to provide her name,...

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Can I pay my taxes late without paying the penalties at the same time without further repercussions?

Generally, the taxing districts charge late payment penalty and interest on the unpaid balance. You may qualify for certain exceptions, as...

Does a dba under a corporation share SUT Nexus with the parent corporation?

I assume by SUT you mean Sales and Use Tax. Nexus rules for sales tax vary some by state, but generally requires a physical presence in the state....

you may also contact your local District Attorney office - they may be interested in prosecuting this type of case. If the preparer is a CPA or...

Do I have to pay taxes in US as an F-1 visa holder student?

Yes - as an F1 visa holder, it appears you are a foreign student exempt from the substantial presence test, which means you are liable for US...

My husband had unfiled taxes before we were married, do I as his spouse now get penalized...the IRS has sent levy notices?

It appears the IRS has assessed the taxes based on 1099s or W2s or other reports of income filed with the IRS by payers, and issued a SFR -...

LLC with two members. Filing Tax

Whether you were active or not may affect the character of your share of the income, passive or ordinary, but not whether you need to report your...

I have over 50,000.00 in back taxes.

Due to your low income, it is possible you may qualify to file Chapter 7 bankruptcy and discharge your personal tax liability. However, the taxes...