Do I have to pay income tax on unearned income after short sale of investment property?

There's no short answer to your question but I'll offer you some food for thought. If your loans are "nonrecourse" (basically meaning the banks...

Have heard it roomered, that any tax liable individual, that does not have health insurance by the end of this tax year will

No truth to this. Effective January 1, 2014, there will be penalties for an individual's failure to secure health insurance, but it will be...

In order to maintain the property's prop 13 valuation, you need to avoid triggering reassessment. In order to do so, you need to avoid a "change...

If I buy a rental property at a tax sale, what are my obligations to the current tenant(s)?

I recommend you contact Kimball, Tirey & St. John in downtown San Diego, as this is more of a landlord-tenant issue than a tax issue (I am a tax...

Can an attorney draw up a document that my wife will sign so that I wont be held responsible if she cheats on our joint taxes?

Such a contract will not protect you from the IRS. The federal government will likely not care that you have drawn up a contract purporting to...

Can the Court's judgement regarding which parent claims dependent status of the kids be superceded by fed tax laws?

This is correct. Under Internal Revenue Code ("IRC") Section 152, a dependent is a "qualifying child" and a "qualifying child" is one that has the...

My Father recently passed away but he owes Payroll Taxes for his company - can the IRS come after us?

Depending on the circumstances, the IRS may be able to come after your brother for payroll taxes. Under Internal Revenue Code Section 6672, if...

Is there a statue limitation for a federal tax liability?

It depends on whether there has been an assessment. If the IRS has made an assessment (i.e. you were audited and sent a Notice of Deficiency),...

Are we getting a home buyer tax credit in the stimulus package?

Hi, The short answer is that we do not know yet for certain, as the stimulus legislation has not yet been passed. However, the current proposal...

Hi. Payroll Taxes are a tricky animal. You have several options here. One is to go through IRS appeals, another is to file a suit for refund...