Archived
What do i do when they want info from 14 years ago and i have none and cant get it.
Bruce's answer
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Answered on August 16, 2014
Who wants the information from 14 years ago? The only time the IRS wants information from that long ago is when it relates to the basis in an...
Archived
Offer in Compromise - ex provided false information
Bruce's answer
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Answered on August 16, 2014
If you wish to report him to the IRS to try to collect an award go to the IRS Whistleblower site. ...
Archived
My husband and I are separating. If I buy him out of his share of the equity in our home, would he be taxed on that money?
Bruce's answer
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Answered on August 15, 2014
No. Payments for assets in connection with a divorce are not taxable. See IRS Publication 504 at http://www.irs.gov/pub/irs-pdf/p504.pdf for the...
Archived
How are job bonuses taxed? A flat 28%? Are relocation costs paid out by an employer as a "lump sum" considered a job bonus?
Bruce's answer
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Answered on August 15, 2014
A bonus is taxed just like the rest of your ordinary income. If you pay for moving expenses you may be able to deduct them. See...
Archived
I was left stocks in an estate, if I cash out when it is still in the deceased name do I have to pay taxes? Or if I transfer to
Bruce's answer
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Answered on August 15, 2014
For federal purposes there would be no income tax. You need to talk to a lawyer or CPA in New York as to state income tax. As for federal estate...
Archived
I recently found out that my former roommates are behind in property taxes on their mobile home.
My name is on the land.
Bruce's answer
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Answered on August 15, 2014
Go to a lawyer and have the lawyer prepare a deed under which you give your interest in the property to somone else. That gets your name off the...
Archived
As a contractor working for a US company in Hong Kong how can I avoid US taxation?
Bruce's answer
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Answered on August 14, 2014
Mr. Atchley has, as usual, given a marvelous, scholarly response.
Archived
Do I have a $250k tax exemption or $500k exemption
Bruce's answer
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Answered on August 14, 2014
At the maximum you are eligible for a $250,000 exclusion. IRC Section 121.
Archived
Are there any tax implications for a foreign gift from a U.S. citizen to another U.S. citizen?
Bruce's answer
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Answered on August 14, 2014
A gift from your father to you is not taxable if it does not exceed $14,000 because that is the annual gift tax exclusion. If your mother joins in...
Archived
How can I get "original IRS Form 4506 listing tax information for past years" when IRS Form 4506 is just a request form for tax
Bruce's answer
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Answered on August 14, 2014
Look at the USCIS web site:...
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