The determining factor to answering this question will be why the co-op is exempt under NYS and NYC taxes. For example, if the co-op is exempt...

I've contributed over $100K to a veterans 501c3 charity. Is it legal to transfer that money into a 501c4?

Unless you made a restricted donation, that is where you limited the use of the funds to a particular purpose at the time of the donation, the...

I am the president of a Non Profit Organization. Recently, the Treasurer accepted a donation for the organization which in this

A lot depends on what the articles of incorporation and the bylaws state. Generally it is acceptable for an officer of a non-profit to take action...

WE WOuld like to gift stock to our children. What taxes apply, on what amount, who pays the tax and what is gift limit per yea

Generally you have a $14,000 per gift recipient per year gift tax exclusion. If you and your wife jointly own the stock, the gift tax exclusion...

Can I get exempt from capital gains tax?

You might qualify for a Reduced Maximum Exclusion of gains on the sale of your principal residence if your move was for a change in place of...

Can a 13909 tax-exempt complaint form be filed against an organization that does yet have tax-exempt status?

At the outset, it is important to realize that all the IRS does based on a 1023 Request for Exempt Determination Filing is <i>recognize</i> an...

If you filed a joint tax return, you and your spouse are jointly liable for the tax debt. So in theory the IRS could garnish some portion of your...

What can you do if you feel your property taxes are not correct. WE live in a small community and our taxes are outrageous.

Generally, you can appeal your assessment. That is you can file an appeal stating that you believe that that Assessor has incorrectly valued your...

Do I need to make estimated tax payments?

One approach is to estimate what you think you will make for the year and and calculate the taxes you will owe on that. Then make sure you pay at...

It is definitely possible to renegotiate your payment plan with the IRS, particularly given your recent circumstances. If you contact the IRS and...