Will I have to pay gift taxes on a house given to me by my aunt (who doesn't want it) and happens to be my mother who willed it?
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Answered on September 17, 2025
If the house is worth more than $18,000, the donor, your aunt, will have to file a gift tax return, but there may be no tax as she can take a...
How does a quitclaim deed affect future taxes on the property?
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Answered on September 10, 2025
Yes a quit claim deed is sufficient to pass title, but only to the extent the Grantor has title. It is basically a No Warranty Deed. If other heirs...
Can I sue my tax preparer for fees and penalties?
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Answered on July 19, 2025
Generally, a tax preparer is only liable to the client for interest and penalty if he made a mistake, and it was more than an ordinary mistake....
Selling an inherited house when 2 of 4 owners (siblings) have IRS tax liens
Everett's answer
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Answered on July 04, 2025
It is possible the title company will distribute the net proceeds pro rata to each sibling if they do not know about the lien, which could happen...
Respond to IRS 5699 letter?
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Answered on June 11, 2025
Per your comments, it appears you may have a defense to not filing Form 1095. You should obtain the assistance of a tax attorney to verify your...
A IRS special agent from a different county showed up to my home
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Answered on June 05, 2025
Dd you view and examine closely his badge and Id? Have you called the IRS to verify his credentials? It's suspicious he didn't tell you what the...
How to reopen and solve LLC penalties?
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Answered on June 04, 2025
A Texas LLC is required to file an annual Franchise tax return, If not, the charter is lost and the LLC is not in good standing. Legally, it is...
What must I do if I still have not received my tax return from 2019 but received my 2020 tax return?
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Answered on May 18, 2025
Not getting your 2019 tax refund is no excuse for not filing subsequent years tax returns. You should file all your subsequent year tax returns....
How can I owe 5,600?
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Answered on May 16, 2025
I assume from your narrative you did file an original return and the IRS proposed adjustments, or perhaps audited the return, and now you owe more...
I am living in Dubai since July 2024 so do I need to pay US taxes for the year 2024?
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Answered on April 13, 2025
If you are a US citizen, or a US resident, you are required to file a US tax return and report your world wide income. You may obtain a US tax...