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Recent Federal Tax questions

How do I file a petition to be heard in federal tax court?

How do I file a petition to be heard in federal tax court? This question is for Rick Martin only

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36 satisfied customers
One of my parents died and I am the beneficiary of a small

One of my parents died and I am the beneficiary of a small death benefit policy from his employer. The claim forms ask me if I want to withhold federal and state taxes from the payout. The deceased lived in CA. I live in CA and am in the 39 percent federal tax bracket. Do I have to pay taxes on this benefit? Is there anything I can do to minimize the taxes?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,750 satisfied customers
2014 Tax question. I am a US citizen working as an

2014 Tax question. I am a US citizen working as an expatriate. I also had a LLC I was running and had a great deal of business expenses.My Question is, how can I avoid overpaying taxes?What can I write off, how can I recoup some of the taxes I have paid?

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Mark Taylor

Certified Public Accountant

Masters

1,262 satisfied customers
I file a very simple tax return every year, receive a refund

I file a very simple tax return every year, receive a refund of about $500. I just recently found out that I had a pension account with a company I worked for over 20 years ago. I am going to take the lump sum payment to pay off my remaining debt. My question is, even though they will deduct 20% in federal taxes and an additional 10% penalty since I am under 59 1/2, I would like to know how this will affect my tax filing? Will I have to pay instead of receiving a refund?

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Robin D.

Vocational, Technical or Trade School

21,216 satisfied customers
I havent filed a state tax in about 10 years and want to

I havent filed a state tax in about 10 years and want to file this year ...will this trigger an audit for back returns?

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Mark Taylor

Certified Public Accountant

Masters

1,262 satisfied customers
I received a letter from he IRS telling me I owed $538.00 on

I received a letter from he IRS telling me I owed $538.00 on 14 August2016. I replied by letter mailed 24 August with information as follows: "Due to my poor proof reading skills I entered a wrong Social Security Number on my return. I had called both the Virginia Tax office and the and the IRS after I found the error a day after I had mailed the return and found my error to ask them if I should mail an mended return and was told by both not to send an amended return as it would only confuse the offices. They were notified by pone and I have no record of the call. About two months ago The Virginia Tax office notified me that I owed taxes and I responded by telephone and by letter enclosing my true SSN along with my withholding statement, my Amended tax form and a cop of the front and back of the check for payment due with my return which was cashed but not credited to our account. The matter was closed to my satisfaction by Telephone in a matter of three days.I replied to the IRS in Kansas , MIS with same information to the IRS that provided to Virginia. That letter was mailed on 24 August. On September 15, 2016 I received a notice from the IRSi in Kanss City that I not only owed the $538.36 but it was due on 29 September and if it was not paid by then I would be subject to a federal tax lien proceedings .Iwas on vacation from September 16th to September 23rd and could not call the IRS Kansas City office yesterday due to high call volume an cannot call until Monday the25th.My real question is how can I find out if the ever received my first letter and what is thestatus of their investigation? Should I pay the amount and hope to get the money back if it is resolved n my favor?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,750 satisfied customers
My now ex-husband and I filed an extension for the 2015

My now ex-husband and I filed an extension for the 2015 year. I contacted him today about filing our returns as "Married Filing Seperatly" per a discussion I had with Robin D. one of the advisors here. To prevent me from being able to do this he went ahead and filed an E-return as "Married Filing Jointly" without my permission or allowing me to review what was being submitted in my name. What can I do now to prevent this return from going through to the IRS and to what options do I have.

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Robin D.

Vocational, Technical or Trade School

21,216 satisfied customers
If the state and the federal govt have tax liens on my home;

If the state and the federal govt have tax liens on my home; if I should sell my home - which one gets the money first? Does Federal or State have precedence?

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Barbara

Enrolled Agent, Paralegal

5,148 satisfied customers
We want to give a son 200K to buy in 2016 a new home while

We want to give a son 200K to buy in 2016 a new home while we are alive. We have a estate of about $1 million to split between to sons. Are we correct that we can give him 14K tax free [or 28K from both of us] and the other 172K must be reported and but it is counted against his future $500K estate split. This means we wil not be tax at all for the gift in 2016.

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Robin D.

Vocational, Technical or Trade School

21,216 satisfied customers
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