Join the 9 million people who found a smarter way to get Expert help

Recent Back Tax questions

IRS Discount for owing more than $10,000 in back taxes and

IRS Discount for owing more than $10,000 in back taxes and garnishments How do you remove the lien?

Read more

Mark Taylor

Certified Public Accountant

Masters

802 satisfied customers
I'm wondering about what happens to federal and state tax

Hello,I'm wondering about what happens to federal and state tax debt when someone dies. If someone owes back taxes, has no assets, and no spouse or partner, can the tax burden pass to parents or siblings? I know it can pass from parents to children or to spouses, but I'm specifically wondering if it can pass to parents or siblings. Again, no assets in any estate to pay any of the debt.

Read more

Barbara

Enrolled Agent, Paralegal

4,982 satisfied customers
Are the new streamlined offshore program rules attached

Are the new streamlined offshore program rules attached valid. I just talked to attorney who said to be in compliance one must amend 8 years of income tax, pay back taxes and interest, penalty, and 27% of the highest balance on the account.Can a non-willful taxpayer really amend only the last three years of tax returns, pay the interest and taxes on those returns and pay a penalty equal to 5% of the highest year-end value of undeclared assets in the last six years?How many years of FBAR does one need to file?

Read more

Mark Taylor

Certified Public Accountant

Masters

802 satisfied customers
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.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,158 satisfied customers
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?

Read more

Mark Taylor

Certified Public Accountant

Masters

802 satisfied customers
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.

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,158 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?

Read more

PDtax

Owner

Master's Degree

6,844 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?

Read more

Robin D.

Vocational, Technical or Trade School

20,894 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

Read more

PDtax

Owner

Master's Degree

6,844 satisfied customers
View more tax questions
In The News