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Recent Back Tax questions

What needs to be included on a c-corporation dissolution

What needs to be included on a c-corporation dissolution plan to the IRS?From IRS form 966: "Attach a certified copy of the resolution or plan and all amendments or supplements not previously filed." I want to file the final corporate tax return for this entity. Thanks.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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I owe $80k to the irs taxes. I red an attorney to help me,

I owe $80k to the irs for back taxes. I hired an attorney to help me, and because of my financial situation the irs agreed to and put me in the "currently uncollectible" status!My question is, what are the odds that they would now agree to an offer in compromise? Say I was able to borrow about 13k to totally call it even and close my case? And, if they DID agree to that, would they immediately take off the liens against me?

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Mark Taylor

Certified Public Accountant

Masters

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I'm trying to determine the "value" that would be used

I'm trying to determine the "value" that would be used for the calculation for a sales tax return for the "Use" tax on Distilled liquors in regards ***** ***** that are given out to customers in the tasting room or other tasting venues. It seems that the actual cost of the product would be used, and not the fair market value of the product. This particular business has a mixed use sales tax license - is both a wholesaler and a retailer - they distill the spirits and resell to other licensed wholesalers as well as providing wholesalers with samples, and they also have a tasting room onsite in which they allow customers to sample product and then sell as a retailer to customers in the Tasting Room.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,784 satisfied customers
My Offer In Compromise taxes has been denied. The IRS

My Offer In Compromise for back taxes has been denied. The IRS reviewer would not permit actual home expenses to override the national standard for my area. I am single and do not have a medical condition. What arguments, or types of exceptions, can be exercised in my OIC appeal to permit the IRS to accept my actual home expenses?Also, the reviewer would not permit the use of actual food expenses in their income/expense calculations. The national standard for a single person is only $10/day. My average is over twice the national standard. If I consume a $3 breakfast, and a $7 McDonalds salad at lunch during work, there is no allowance for dinner. If documented, how can my actual food expenses be acceptable to the IRS?

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PDtax

Owner

Master's Degree

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6,784 satisfied customers
I am in the beginning stages of divorce - My husband has

I am in the beginning stages of divorce - My husband has significant back tax debts plus has not filed for the last 2 years as far as I know. He does have a repayment arrangement in place for the prior tax debt. I know he also has other debts related to his business that he sold over a year ago. I have filed my taxes separately for the last 5 years because I knew he was not paying his taxes. My question is - will I be responsible for these debts in the divorce?

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Robin D.

Vocational, Technical or Trade School

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20,648 satisfied customers
I currently owe about 70k in back taxes. I am going to be

Hi,I currently owe about 70k in back taxes. I am going to be required to hand in some financials in the next few months. I need to know the best way to do this . At the moment, i am working as much overtime as possible to come up with a large amount to hand them around December, maybe like 10k, but am i afraid that it's going to make it appear that i make more money than i normally make. My after taxes take home pay, is usually around 4200 with overtime, every 2 weeks, without it, more like $2700. Also how much does the IRS allow per month, for a household of 2 adults and 2 kids for food and entertainment each month. Plus may i also include in my monthly expenses costs for credit card payments, haircuts, clothing for the kids, household stuff, gas, cable, life insurance, tutoring. Also, should i continue to contribute to my deferred compensation plan for retirement? is that allowed? i started it to minimize my taxable income

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PDtax

Owner

Master's Degree

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I got a letter from the IRS concerning m 2013 tax returns.

I got a letter from the IRS concerning m 2013 tax returns. They want proof of my deductions for medical, home office, and contributions. I don't have any of that. We had a tornado touch down two weeks ago and there is water damage in my attic. My father-in-law (who lives with us) accidentally threw away all of our records. Worse case scenario, what can I expect?JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Will I have to worry about my other returns being audited? I lost everything to prove my expenses.JA: It's hard to know for sure. The Accountant will figure it out. OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

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Lev

Retired

Bachelor's Degree Equivalent

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24,192 satisfied customers
My ex-husband owes the IRS in back taxes. I really 't know

my ex-husband owes the IRS in back taxes. I really don't know how bad it is with him and the IRS, but I heard its pretty darn bad! The jobs he takes as a software engineer, are in many different parts of the country. I believe his employers give him a 1099. So, I'm not sure if he even files income taxes. He makes over 100k per year.I have back child support orders that he owes me. He has been paying through income deduction orders. Now, I'm told he has a new job in a new state and won't give me the information so I can serve his job.Is there a way I can go to the IRS to collect from him? Or do you have any other suggestions for me?Thank you

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PDtax

Owner

Master's Degree

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6,784 satisfied customers
I have not filed our income taxes last 3 years, which is not

I have not filed our income taxes for the last 3 years, which is not good. The first year (2013) was b/c my husband lost all of our deduction records esp. the medical ones. I have to had some of them re-sent to me. Since then, my computer has lost everything that I had finished through Turbo Tax, so I have to try to re-create it--I have decided to just send it in anyways. We would get back about $3,100. Now in the following year (2014) we were told that a credit card "forgave" our debt of $13,000 to them so this is now considered income (if we had the money to pay the credit card--we would have and the credit card balances were so high due to a fraudulent business that I tried to do on-line to help us pay our bills--I am on disability and working out is hard for me, so I try to make income as best as I can to pay the bills and I was taken advantage of by unscrupulous company(ies) of the amount of $25,000 on several credit cards). In addition to it looking like we made a lot more income because of the discharged cards that had to now be listed as income (ha, ha--how does that work??), we also lost the ability to claim my mother, who we support as a dependent as the income limit for a dependent changed to a low of not more than $3,500 for that tax year. We also could not claim any medical expenses since the medical percentage to income limits was raised. Triple whammy!! So when all was said and done we owed the IRS about $1,700. which we cannot afford. How can the government think that we can pay taxes on a bill that we could not afford to pay?? I presume that the banks were able to convince congress that an unpaid bill is equivalent to income, but not so. Since the big banks were no longer able to charge inordinate amount of interest and other fees, they have found this other way to collect. Well, let me tell you that with all the interest, late fees and other fees that they charged us, we did pay the initial principle back. So this is just a way to steal from us, poor American citizens. So I did not file since we cannot pay or even make payments on an "unfair" and "unjust" law that allows Americans to be punished for being poor. Again if, we were wealthy, we could afford lawyers to defend us, but alas, we are not. In the past when we owed the government for a lost business that my husband had--he owed about $3,000 in employee taxes of some sort, the government put us on forbearance, but continued to charge us interest--even though they had over $3,000. of my unfiled refunds for taxes due to me in their coffers.

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Barbara

Enrolled Agent, Paralegal

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4,868 satisfied customers
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