I was just diagnosed with cancer, and my parents are willing to pay off my house. can we transfer it to them without penalty?

I am sorry to hear your diagnosis. Your situation calls for some careful estate and gift tax planning, well beyond the scope of what is possible...

Do I need a business license and tax id?

I agree with attorney Lively. There may also be other considerations. Whether you business is ran from your home, out of the trunk of your car...

For the past 30 yrs. I have been in a common-law marriage, living in the state of CA. We own property together and have always

Marital status will affect Social Security Survivor and Spousal benefits. Both the IRS and the Social Security Administration follow state law on...

Capital Gains Tax on JtTen account

Congratulation on your Berkshire. Since ownership of the security is by more than one individual, each of you reports the portion of basis and...

I am filing for bankruptcy in Florida. Can they keep my tax refund for this year? Should I wait to file after my taxes?

This is an interesting question. The starting point is that all money and property that you own or in which you have a present or future right,...

No, your accountant cannot refuse to return to you original tax documents that you provided to the accountant for the purpose of preparing a return...

Will the irs foreclose if you are unemployed and already have a lien placed on your home

The IRS collection division is charged with the responsibility of collecting tax debts. The IRS has the power, and has in the past, seized and...

It sounds like you were contacted by a commission based collection agency rather than a law firm. Unless there some odd exception in your state,...

Our 2006 Fed Tax was prepared by a tax service, we did not check the return (they claimed to be professionals).....

I addition to the advice already given, consider taking your IRS letter to the tax preparer. Most preparer's will be happy to walk through the...

Can my ex wifes boyfriend claim my kids on his taxes if he is living with them ?

You have not provided enough information. However here are some of the issues. If your ex wife has agreed that you may take the personal...