Chase modified my first mortgage and forgave my 2nd line of credit in 2013. Will I have to pay taxes on the forgiven 150k 2nd?

Debt forgiveness is generally considered income. But there are several exceptions to this rule in the Internal Revenue Code. Your accountant should...

Can the IRS take our refund if we file jointly for 2013 and he owes for 2009 taxes while he was single?

You have two options. First, you could file Married Filing Jointly and anticipate that the IRS will intercept the entire refund. Then, you file...

Essentially, you are being taxed on cancellation of indebtedness (“COD”) income. Under federal tax law, you receive a benefit when a lender...

I owe the IRS & FTB income taxes for previous years. Who do I need to talk to?

I would also like to note that this is a time-sensitive matter. Once the FTB begins a wage garnishment, it's almost impossible to release the...

The issue is not whether you are time-barred from filing an injured spouse claim; rather, the issue is whether you are time-barred from getting any...

Behind on house taxes what can i do ...made payment plan having trouble keeping up

Call the IRS at 1-800-829-7650. That is the number for the IRS Automated Collection Service (ACS). ACS will have the authority to work with you on...

My LLC did not make any money yet, do I still pay a franchise tax?

Your LLC will be liable for a minimum tax of $800 that must be paid to the Franchise Tax Board.

If you are an LLC with a single member, you are by default classified as a sole proprietorship for federal tax purposes—there is no need to file...

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Can I file my income tax return without identification?

You did not need a photo ID to file your federal tax return.

How should i apply for individual tax id ?

Your taxpayer identification number is your Social Security number, which you will not be issued until you've completed all of the legal...