LLC members have the choice of electing as to how it will be taxed; sole proprietorship (single member), a C corporation, a partnership or an S...

Can she still be held liable for all those years of back taxes?

The attorney with the threatening letter must present a legal basis for the claim. Chances are that there is none. A lawyer consult would be...

How should my parents will be worded to accomplish this goal?

Before paying the loan, make sure their trust confirms the payment and the terms in it. Otherwise, you may be out of lack when she dies. The...

What is the tax liability for a home sold after receiving from a life estate?

Sorry for the loss. You should be able to step-up the basis of a life-estate property to its fair market value at the time of her death, and avoid...

They took my federal tax for ardent loans will they take my state tax tio

Sorry about the dilemma. Based on your fact pattern, you are better off to contact the IRS and work up an installment pan or offer-in-compromise....

My kids father claimed them on taxes and wasnt supise to please help what do I do

If his child support payment is per court decree or another agreement, there is a chance that he may be entitled to claim the children. Present...

Are we now legally required to report this change in basis to the IRS (I assume by sending an amended return)?

I would dispute the new appraisal, if an objective appraiser disagrees with the lower basis. Otherwise, you will be required to amend your federal...

Changing Social Security Number....CONFIRMED that I will NOT lose graduate degrees OR Nurse Practitioner License.

Congratulations, and thanks for letting everyone know that. Good luck. Zaher Fallahi, Tax Attorney, CPA, MBA, MS.

Do I legally have to pay my employer back for these non-resident PA taxes?

Ask the employer’s HR department to explain the reason for the withholding, and comply. Their allocation of some of your state income would be in...

Generally, tickets are licenses and not considered sales taxable goods. Call the Board of Equalization for the specific ticket in issue. Good...