My Ex Husband was notified that on a past jointly filed return we owed monies. Ex contacted me and said "we owe"...

Since it was a joint return your are jointly liable with your husband for any tax due on the return. If the return was within two years you can...

IRS delaying Offer in Compromise response

The best thing to do is contact them by calling the number on the letter that you received and asking the status of your OIC. This can be a long...

What is best way to protect money from inheritance and income taxes when inheriting money?

When you inherit money any tax that is due is typically paid by the estate and not the heir. The exception would be retirement assets that are...

We have an Scorp that is open but not "operating". we withdrew salary but didn't pay bills, so it is shareholder loan.

I agree with the other attorneys. Remember, an S-Corporation is a pass through entity that passes through its income and expenses maintaining...

Is it possible to claim a tax credit when paying a fee to a non profit organization for using a facility that is managed by them

No, this does not appear to be a donation. It is a rental payment for the facility. The rental payment is deductible if it is an ordinary and...

Can I file a 2011 1041 now or do I need to wait until the end of the year?

You file the form in 2012 for 2011. As you indicate, the forms are not currently available for 2011. You should reserve for the taxes and file at...

I have 400K in medicaid bills and have inherited 100K. How can I prevent IRS from taking all the inheritance?

This is not an IRS issue with regard to the Medicaid bills. The government can take the money from the estate if Medicaid is owed money by it. ...

I agree with attorney Fromm. The penalties for FBAR violations are stiff and you will want to make sure you are in compliance. Contact a local...

My husband forged my siganture on tax return and refund how i can report against him he abandoned me after he gor refund

You will need to file your own return as married filing separately. You are not responsible for a tax return that you did not sign. When you file...

How to declare Cancellation of Debt Income a year after debtor died?

You have three potential issues. The first is the cancellation of debt income, the second is a potential capital gain or loss, and the third is a...