Can I seek damages against my tax preparer for filing my taxes incorrectly or get a refund of the amount paid for tax prep?

One other thing to think about. If while living in Asia you had a bank account, or brokerage account with more than $10,000 in it any time you are...

I am a US citizen, worked and had bank accounts in the foreign country where I lived 6 yrs. I did not know I had to file taxes

It depends what you mean by a "favorable outcome." If handled properly you can expect that you will pay the tax, plus interest, plus a 20% penalty...

My husband owes money to the IRS and would like to know if my inheirtance will be taken because of this( inheirtance from parent

You really should speak with a tax controversy attorney in your state which seems to be Missouri. In general the IRS should not be taking money...

Would I be subjet to taxes once I inherit assests from another country. The benefactor is not a U.S. citizen.

Although non-taxable to you must file a Form 3520 with the IRS if the inheritance is more than 100,000. Failure to do so could result in a...

Liability to apply for EIN as Third Party?

The short answer is this would be a very big mistake. As described above your friend needs to his own ID #. NOTE: If you find this response...

Capitol gains taxes

If you sell property you have to pay tax on any gain. It doesn't matter whether you are a first time owner. NOTE: If you find this response...

My husband is a British citizen and hold a green card. Is tax fraud a reason for deportation?

You don't say whether or not you are a U.S. citizen. If so then at least you don't have to worry about deportation. In any event you may want to...

CA FTB claim for additional tax from sale of property in 2005

If you sell property in California you are taxable on the gain, without regard to where you live or your citizenship. You may also owe U.S. federal...

Tax court ruling 155

Generally Rule 155 calculations are not done when the TAX amount that is due is different then the full amount set forth in the initial IRS notice....

If there is a bona fide dispute about whether or not you owe the money then it may not be forgiveness of debt income which results in income to...