It depends on what the $2700 is. If it is additional tax, you must pay that. If the tax preparer made a mistake and you now owe interest and...

What is this $5,200,000 tax exemption that is talked about in the above questions? is it life time earnings.???

Basically, you can give away $5,490,000 in your lifetime or at death without incurring any transfer taxes. Transfer taxes are gift taxes and...

You should find an Enrolled Agent to help you. Enrolled Agents are tax professionals who are specifically trained to handle tax matters. They are...

It sounds like a phone call to the IRS might help. There is a number on their website:...

As the previous answers have alluded, it makes a difference how you were appointed. Oregon law provides for transfer to the beneficiary at either...

Selected as the best answer

If an employer incorrectly files my w-4 are they liability to pay?

Ms. Wynn is correct that the income tax is your responsibility. I wonder whether the employer correctly withheld employment taxes. If employer...

Buying house, gift and taxes.

Gifts do not have income tax consequences, so you will not have income when you receive the gifts from the others. The gift tax applies whenever...

Can we claim my stepson on our taxes if his custodial mother has no income?

This is a question for the lawyers in your area. It's not really a tax question because you're asking what a judge in Virginia is likely to do.

Good news! Even though your parents bought the house for $200,000, inherited property has a "basis" equal to the value at the time of death. So...

Nothing in Part III, but there is a box in Part V or Part VI that you will check if you did not have any tax items for the year. I think it's line...