My vote would be for you to follow option #2 because the corporation may incur some costs or expenses in dissolving that it would not otherwise be...

Does the Internal Revenue Code address what documentation should be used to prepare a tax return?

The Internal Revenue Code gives the IRS broad authority to prescribe, by rules and regulations, the records that a taxpayer is required to keep. ...

Selected as the best answer

I am a freelance writer. I owe back taxes on very low income levels and inheritance tax. Do I need a CPA or a Tax attorney?

You should file all of your past-due tax returns. Based upon your annual income, it is unlikely that your tax bill will be very substantial. You...

Tax dept incurred during the marriage

Yes, if you filed a joint return, you are jointly and severally liable for the tax reported on the return or any tax deficiency determined to be...

Will an old NOTICE OF STATUTORY MUNICIPAL LIEN get wiped out by the county tax sale auction?

This looks like a question that you may want to ask Oscar Ornelas, an El Paso,Texas tax attorney, for an answer. Mr. Ornelas is a highly-rated...

My ex husband and I legally divorced in 2002 and agreed to claim our son every other year on the tax return. Can I change this?

As the other attorneys have indicated, you cannot take the law into your own hands. You must abide by the terms of the family law court order...

Tax question; significant participation, paid payroll for 3+ years, but no management of company, want active writeoff

I'm afraid that Mr. Corrigan has hit the nail on the head. Since you are involved in a C corporation, the tax attributes of the entity do not flow...

You probably should contact the IRS Taxpayer Advocate Office and see if it can help you obtain the refund to which you are entitled. The facts...

Income Tax Refund

In answer to your question, the IRS has the right to setoff your income tax refund against your tax liabilities owed. Under Bankruptcy Code...

NJ Income Tax

So long as your children are permanently and totally disabled at any time during the year, they can be claimed as dependents on your returns...