Chpt13 requires a 1099C to claim the amount written off. How are you suppose to pay the IRS if you cannot pay your bills?

There is an exception under the code that when you are insolvent or bankrupt you do not have to pay taxes on the income from debt...

Why would the IRS hold on to my income tax returns when they have accepted an OIC?

This depends on the terms of your OIC. If you have a collateral agreement it may be specified that the IRS gets to keep any refunds for a period...

How do I make sure my house will go to my children

To transfer the home to your kids you can do so in a number of ways. You can leave the property to them in your will or trust. You should see an...

My exgirl friend did my taxes for the last 3 years. She had the money put into her bank account, can she be charged?

This is not really a tax question. However, the first thing you should do is ask her for the money back. If she does not comply, then report her...

Can I take the mortgage interest deduction on my taxes if the loan is in my father's name (with his consent of course)? How?

To take a tax deduction for mortgage interest you must be on title and responsible for he loan, as well as make the payments on the loan. You may...

The Third Party designee on Form SS-4 only receives the ID number and can answer questions about the form on behalf of the taxpayer. This does not...

My friend lives with his mother. 2 days ago she passed from cancer . what rights does he have as far as siblings go

First, your friend will need to determine if his mother had prepared a Will or a Trust, and how her assets were titled at her death. This is what...

What are some options I can explore if I am the only heir of four heirs paying taxes?

If the assets have not been distributed, taxes are usually paid first and then the assets are distributed from the remaining assets. If there is a...

My father passed away 2 years ago and left a trust.

The probate code in California requires that she provide you with a copy of the trust. Write her a letter demanding a copy of the trust. If she...

Grandchildren as heirs to property with parents as executors. How does this work?

If there is a Will probate should be opened. The probate court will go through the process of validating the will and making sure the debts of the...