Strictly speaking, the IRS does not accept the existence of “interest free loans.” Interest must equal or exceed the current Applicable Federal...

When does the statute of limitations to receive a refund start to run in the event of a casualty loss?

Please not that I am not addressing if your casualty loss is in fact a "bad debt or worthless security." The general statute of limitations period...

Section 68 of the CBA (California Board of Accountancy) regulations require a CPA to return a client’s books, records or other data, whether in...

The IRS wants money from my Grandfather (who wants to use me as a dependable) because I did not sign up for Obamacare in 2016.

As it presently exists, the Affordable Care Act (ACA aka Obamacare) imposes the penalty for a dependent's noncompliance on the taxpayer who claims...

It’s your employer’s responsibility to provide you with a W-2. They should have all of your payroll information. Contact your employer again and...

You should consult with your professional tax return preparer to discuss this situation. Generally, however, If both spouses elect under Internal...

Do Accountants have Fiduciary Duties to Executrix of Estate of decedent who an accountant provided accounting & tax services to?

In California, CPAs and accountants are not fiduciaries as a matter of law in the same way attorneys and other representatives are. CPAs and...

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An election under section 6013(g) applies for the tax year for which made and all later tax years until suspended or terminated. The election is...

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Supplemental information may be provided for estate tax returns that results in a different final amount of estate tax, but strictly speaking you...

If the tax liability is owed by the LLC and not you individually, you should discuss with a tax professional whether the Ralite case will apply in...