You need to claim the 1099C cancellation of debt income in the year that you received it but it may not be deemed taxable income in certain...

A 401K balance is considered an asset for the Offer in Compromise (OIC). You are allowed a 30% reduction in it's value although. Meaning if you...

I would add that it sounds like you're thinking about the capital gains calculation wrongly. It has nothing to do with the loan balance remaining...

The correct manner for handling this situation would be to go back and amend the earliest year that omitted the gain (2020) and then move your way...

You can split mortgage interest as an itemized deduction when filing married filing separately (MFS). The key rule being that the two MFS returns...

Yes, you can complete form 1040ES to determine how much you should pay. The form includes 4 vouchers you can use to make quarterly estimated tax...

Yes, I agree with my colleagues above. I would add that the IRS transcripts will not include any state income tax withholding so if you are in a...

Unfortunately you do have some exposure with regards to the past payroll taxes that were not paid. The IRS has a mechanism for assessing...

Generally you can efile the last three years. The rest will have to be mailed in. The IRS generally only requires you to go back six years unless...

No, the IRS cannot collect your taxes from your husband's social security unless you filed a joint return with him that has an existing balance...