Archived
Can I claim percentage of year-end loss of LLC on my taxes if I sold my shares to remaining partners during the year?
Henry's answer
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Answered on March 20, 2011
You need to talk to the accountant and have him amend the return so that you are allocated your losses for the time during the year that you were a...
Archived
Tax Audit
Henry's answer
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Answered on March 19, 2011
Hire an expert and get back to your life while the tax professional represents you. I see many taxpayers making terrible mistakes when they decide...
Archived
Does the wife have a right to a transcript of the husband's tax return if the husband files married filing separate?
Henry's answer
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Answered on March 19, 2011
No, if husband filed separately then wife does not have the ability to get a transcript for his account. This family would most likely have a...
Archived
Can a beneficiary get a copy of decedent's last tax return from the IRS? PR will not furnish.
Henry's answer
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Answered on March 19, 2011
Typically, the personal representative will have to get this for you. If there was a will and the estate was probated there may have been an...
Archived
I need to know what to do!!
Henry's answer
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Answered on March 19, 2011
First, talk to your husband and see if he will give you your share of the check. Unless you still have a joint account he should not be able to...
Archived
How do I calculate capital gains on the sell of an inherited vacation rental property that was in a trust with a “life estate”
Henry's answer
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Answered on March 19, 2011
When you inherited the property in 2009 it stepped up in basis to the fair market value on the date of death of your father, or the alternate...
Archived
Good (cheap) software for occasional tax prep?
Henry's answer
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Answered on March 18, 2011
Many of the professional return programs like Lacerte offer programs to charge you on a return by return basis. The Journal of Accountancy does a...
Archived
If a tax controversy is in federal Tax Court, can the IRS begin an audit of a return that is the subject of the Tax Court case?
Henry's answer
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Answered on March 18, 2011
The Tax Court takes a de novo review of Tax Court cases. So yes, your return can be audited and the Court can recompute your entire tax liability....
Archived
How does someone remove a federal tax lien that was improperly imposed?
Henry's answer
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Answered on March 18, 2011
The best thing to do in a case like this is to hire a tax attorney to sort out this mess. There are numerous ways that you can go depending on...
Archived
If I don't get income for California. I get income for my husband who is actually in Mexico. We have a daughter also
Henry's answer
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Answered on March 18, 2011
As a non-resident you would only pay tax on income you earn in the US.
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