Tax question on a settlement

You need to take this to an accountant and let them figure it out for you. Settlements can be a little tricky. If they are for some type of bodily...

What to do if some claimed me on there taxes without my permission and im an adult

Just file your own return. Believe me, the IRS isn't going to sit around scratching their heads as to why a grown adult filed their own taxes. But...

Hello , I have a simple tax question, which I have been reading about a lot. I want to know if I am to give away 150k worth of

The amount of the gift will be the FMV of the stock, and not the basis. But as the previous attorney points out, the recipient will take with a...

Keep in mind, the IRS only has to send the NOD to your "last known address." This is the address you put on the last tax return generally. That...

I have a 75000 tax bill for 2007, 2008, and 2009 and I need to declare bankrupty. What is the timeline I need to follow?

The previous attorney is correct. What you can also think about doing is an Offer in Compromise after the bankruptcy is discharged. But if you have...

Child E.I.C.-Dependency Exemptions-Why do the kids address need to be mine so many days in yr could been staying w/me.

The exception you are talking about is where if the children are living away at school, the parent they would have been living with can claim them...

Am I personally liable for Franchise Tax Board $800 minimum tax for a dissolved S-corporation?

I believe that you are protected by the corporate entity as far as these taxes go. But the previous attorney is 100% correct that if you sell the...

Looking for tax article on partnership restructuring that used abbreviation "TBE" in place of "The Business Entity"

Google might be more effective. Christopher Larson www.bellevue-tax-attorneys.com www.insightlawfirm.wordpress.com

Can I redact the income from my tax return for Ponzi scheme income?

You can deduct these as ordinary losses if certain requirements are met. The previous attorney is 100% correct about the name of the revenue...

What is the benefit of not making it capital? I can see the downside to not making it capital, but I fail to see the downside to making it capital....