Can I avoid capital gains taxes by putting proceeds from the sale of my rental in a trust for the benefit of my children?
Phillip's answer
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Answered on July 05, 2021
There are ways to defer capital gains in the sale of a rental property, but trust will not get you there.
We have minimal information here, and...
Am I being bamboozled or is this normal practice?
Phillip's answer
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Answered on July 01, 2021
I agree with Richard.
Also, check your credit report to see if anyone has pulled your credit report recently.
If you find someone has...
Tax preparer forged my son's signature, collected tax refunds into his accoutnt?
Phillip's answer
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Answered on July 01, 2021
Start with Form 14157-A.
Also, this is called theft and should be reported to the cops.
The IRS can track the refund, and if the preparer paid...
Can i sue regarding not letting me view my dad without a ticket but let other people in without a ticket
Phillip's answer
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Answered on July 01, 2021
This in not a tax question so I am changing the practice area to injury as is seems to be a IIED claim.
Maryland state tax help?
Phillip's answer
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Answered on July 01, 2021
Yes and that state can pursue the debt even if you move to another state.
So they can put a lien on your property or Levy your bank accounts and...
Can I strike a deal with the IRS to pay an estimated amount of taxes if I haven't filed for 5 years?
Phillip's answer
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Answered on July 01, 2021
I agree with the responses above but want to add that the IRS is focusing on Cryptocurrency.
The IRS is conducting Operation Hidden Treasure,...
I need help with a 1031 exchange?
Phillip's answer
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Answered on July 01, 2021
So the first question is if the property is individually owned or was it owned by an entity?
If individually owned, then the issue is the...
How much does it cost to file chapter 7 bankruptcy??
Phillip's answer
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Answered on July 01, 2021
I think you are asking the wrong question.
The question should be how much it will cost me not to retain a qualified bankruptcy attorney....
I never received my half of my income tax that my soon to be ex-wife filed this year ?
Phillip's answer
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Answered on July 01, 2021
Happens all the time…
Talk to your divorce attorney about increasing your part of the marital estate to account for the portion of the refund...
CP2000 How to get a "substantial tax understatement penalty" abatement?
Phillip's answer
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Answered on July 01, 2021
Abatements are facts and circumstances base exercises.
However, the IRS generally gives you one free abatement.
Now the $10k penalty is...
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