Archived
My sons federal tax return was filed by h&r block in Delaware when he was in prison he never gave permission
Bruce's answer
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Answered on August 02, 2014
First, talk to the H&R Block office to find out what happened. Then, depending upon the response you receive, contact the IRS. Messrs. Gregory...
Archived
What tax obligations accompany a universal gift to minors account ($9000) if the minor has reached age 24? Who is obligated to
Bruce's answer
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Answered on August 02, 2014
Once the person reaches the age at which the funds are to be distributed, then the distribution is not taxable income to the recipient.
Archived
Getting a divorce, not divorced yet. Spouse filed taxes on me without my consent is this fraud/forgery?
Bruce's answer
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Answered on August 02, 2014
Whether she can be charged with forgery/fraud is an issue both for the police and for the IRS. There are IRS taxpayer assistance phone numbers for...
Archived
How much will the IRS take in taxes if I get a settelment from my former employer?
Bruce's answer
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Answered on August 02, 2014
If the settlement is solely for lost wages, then it is taxed as wages. If you pay legal fees, then you will also be taxed on the letgal fees even...
Archived
CA legal question on FTB tax transcript for a trust
Bruce's answer
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Answered on August 01, 2014
The beneficiary is entitled to an unredacted copy of the transcript and should contact the state for one. Mr. Smith has given you good advice.
Archived
Health Insurance and various other stipend amounts are taxable or no for the employee ?
Bruce's answer
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Answered on August 01, 2014
Yes, health insurance and various stipends are generally taxable. Please sit with a competent CPA here in L.A. - I can give you many...
Archived
I am retiring soon and want to sell my rental property so I can pay down my mortgage. Will I be paying a lot of taxes or
Bruce's answer
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Answered on August 01, 2014
You need to hire a competent CPA in Sacramento who can sit down with you, go through your exact facts and run a pro forma income tax return for...
Archived
Can I sell an apartment complex in my name to an Limited Partnership where I a limited partner? Tax implications?
Bruce's answer
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Answered on August 01, 2014
Off the top of my head I believe that the Internal Revenue Code Section involved is Section 267 and it does not appear that you will have a...
Archived
CPN and SCN Credit privacy number or Second credit number
Bruce's answer
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Answered on July 29, 2014
Unfortunately, the resources available for identity fraud are few and usually underfunded. Talk to the police in your area because they probably...
Archived
How accountable is my CPA?
Bruce's answer
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Answered on July 29, 2014
Talk to your CPA before worrying about liability. These types of things can usually be worked out on a friendly basis. If you can't get...
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