What is the tax liability of stocks issued to a beneficiary instead of cash distribution that was requested on the paperwork?

The stock would step up in basis to its fair market value at the date of his death. When the stock is sold you will use this basis to determine...

You are never legally obligated to file jointly. You always have a choice to file as married filing separately. If you file jointly, you become...

Claiming a dependent does not cause you to become responsible for an adults debts. You would need to accept this legal obligation by co-signing or...

I'm an employee and also an independant contractor, how do I file taxes?

You will need to report your wage (employee) income on your Form 1040 as wages. Your independent contractor income is reported on schedule C. You...

Will my ex spouse have to file a tax return if he did not earn any money this year.

If your ex spouse does not have any income for the year, he will not have a filing requirement. Any individual seeking legal advice for their...

My wage tax comes out of my paycheck, we thought we filed with turbo tax, never received anything from local authorites until...

There appears to be a mix up with your name and/or social security number. Hopefully, you have kept the documentation that you filed. Regardless,...

In our settlement agrement I will get some amount of money as a gift from my husband. Do i need to pay any tax ?

There is unlimited gifting between spouses with no tax consequences. This includes from settlement agreements incident to a divorce. Any...

Can the ex wife legally let her mother claim the children on her taxes

Yes, if the Mother meets the criteria for the dependency deduction. Any individual seeking legal advice for their own situation should retain...

I recently invested in a small business. Before ownership shares were trasferred, IRS levied business for unpaid taxes.

Unfortunately, you will have to sue the seller. Any individual seeking legal advice for their own situation should retain their own legal...

Reverse mortgage foreclosure in Ca.

You still can bring suit for the work you performed. It is just that your lien is worthless. You cannot continue to live in the house unlawfully...