Archived
How can the IRS claim I owe taxes from 2005 when I received a tax return that year and every year after that?
Henry's answer
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Answered on November 13, 2011
The IRS must have adjusted one or more of your returns and determine that additional tax was due. You should have received notification of this...
Archived
Trust question
Henry's answer
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Answered on November 13, 2011
The beneficiaries are not responsible for the estate tax typically. The Estate pays this tax. Once you have inherited the money, you are...
Archived
When receiving an inheritance does a person have to file it as income when filing their federal income tax return?
Henry's answer
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Answered on November 13, 2011
No, you do not. This is not income pursuant to the Internal Revenue Code. You will have to pay tax on any income that the inheritance earns post...
My boyfriend and i are being audited by the irs what do i need for documentation?
Henry's answer
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Answered on November 13, 2011
I agree with attorney Martin. You need to provide the documentation that shows you meet the tests for taking the deduction. Your original tax...
Archived
I own two properties in michigan. One of the properties I haven't paid the taxes in two years.
Henry's answer
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Answered on November 13, 2011
No, there is no cross collateralization of the properties. The one property that has not had the property taxes paid will have a lien on it and...
Archived
What is the limitation in OHio to collect sales tax?
Henry's answer
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Answered on November 11, 2011
I agree with attorney Fromm. Inform the state that he is deceased. You need to determine why the state is seeking this recovery from your mother....
Archived
How do i file taxes
Henry's answer
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Answered on November 10, 2011
Your spouse has to live with you at least six months or you are considered separated for tax purposes. If your spouse didn't live with you at...
Does my business partner have to pay half the property taxes?
Henry's answer
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Answered on November 10, 2011
The property taxes do not create personal liability and the County can only look to the property for recovery of this amount. If you are going to...
Archived
When gifting money is the gift to the child (and the spouse), or would you be able to gift to a child and also their spouse.
Henry's answer
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Answered on November 10, 2011
You are allowed to gift $13,000 per year (the amount is no longer $10,000) to anyone you want without gift tax issues. That means you can make the...
Archived
If your company is providing products to a company in another state, (1) do you have to apply for their state taxes?
Henry's answer
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Answered on November 10, 2011
If you are doing business in another state you typically have to apply to qualify to do business in that state. Illinois requires this and then...
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