In California, how will I be taxed on a short sale loss?

Assuming that the real property was your primary residence, the short sale will be reported and you will receive a 1099-A or 1099-C. Although...

My tax preparer did not enter my full checking account number on my return. Who is responsible?

"not entering the last 2 digits " This is unlikely, since software checks the input string for the correct length and formatting. It may be that...

Can I open a bank account (to get paid as a consultant) with a name containing the letters LLC without it actually being an LLC?

No. The initials LLC, LLP, Inc. and Corp. all are understood to have a distinct legal meaning. A bank is not permitted to open a deposit account...

Our house was forclosed in 2009 but I received a 1099-a for 331,736.56 for 2009 I am under chapter 13 but my wife is not.

The lender is required to issue a 1099-A in the case of an abandonment of real or personal property. After the property is sold at auction, you...

Selected as the best answer

Do I qualify for the The Mortgage Forgiveness Debt Relief Act and Debt Cancellation?

Since you are not living in the property, and have not for at least 2 of the prior 5 years, the house is not your personal residence. Therefore...

I am planning to continue my studies abroad for 2 years. Will I pay tax as a US citizen?

Your question is too broad for a specific answer. However, from the perspective of a high level overview; if you earn or accrued income from a...

Can I still owe $$ to the Franchise Tax Board for 1981 and 1982 taxes?

The tax lien remains in effect until the taxes, penalities and interest are paid. Because of the small amount of the original tax due and because...

If our business is Inc. what entity would we put on our w-9?

Your entity is what you registered with the Secretary of State of your state. If you don't have your intial corporate registration, you can go...

Is there liability to employees receiving under the table credit in cases of tax fraud?

There are two levels to this situation. The credit you receive is income for at least the fair market value of the services that can be traded...

Filed Taxes Jointly as married for the tax benefit but we are NOT married, OR common law. Does this make me common law in CO?

You have not provided enough facts to fully answer your question. However there are a few points that may be useful to you. My understanding is...