Bank just informed me of a levy by the Franchise Tax Board. I need to know how to have my account exempt from levies of my S.S.

Unfortunately, until you actually file the Calif returns, this will simply grow into an even larger problem and the statute of limitations will not...

My bookkeeper didn't pay 941 taxes or state withholdings and sales taxes for months and left the company which is now bankrupt?

You will want to retain a tax attorney or enrolled agent proficient in "trust fund" payments. Getting ahead of the problem can help minimize the...

Can I file for injured spouse?

You can file for injured spouse. Due to CA community property rules, IRS will likely deny a refund. Highly advisable to consult a tax attorney or...

Can I file for injured spouse if my husband & I filed a joint return?

Yes you can request injured spouse status if you qualify. Be aware, because CA is a community property state your request most likely will be...

Capital Gain Taxes Looming, Trying to qualify for the $250,000 to $500,000 tax exemption.

You really need to employ either a tax attorney, enrolled agent or CPA before you move forward with making changes. I agree with all both...

What are the federal and state (CA) tax laws that pertain to forgiven debt in an upside down mortgage?

I agree with both attorneys. Will only add that the "Mortgage Forgiveness Act" is still in play as well through 2013. This generally arises when...

I want to create 501c3. Mission is supporting music education in public schools.

When you file the articles of incorporation, you may determine to include the "founders" as part of the articles. You can further solidify this...

How do I handle a deficiency from IRS due to my ex husband illegally claiming my child despite my primary custody and 80% w/ me?

As the custodial parent, in order for your ex to continue to claim your son, he would/should have been required to obtain a release from you on...

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My corporation failed 2-3 yrs. ago, but I couldn't file company tax return nor properly dissolve the company. what do i do now?

Short answer: California will require you bring the corporation into "compliance" before you will be able to dissolve. This entails, at minimum,...

Can she be a dependent on my income tax?

Your sister and/or your mom MAY be your qualifying relatives for dependency if they meet all 4 tests as set out by IRS (don't confuse with...