Yes, generally. The owners of both entities must continue to own the same interest before and after the transfer.

No. Not your personal returns. There is a very strong public policy preventing this. The policy is based upon that if people had to turn over their tax returns to creditors or the courts then people would not be completely honest on their returns. However, with a business there can be... View More

You can file a Bankruptcy to discharge taxes after the taxes have been assessed for 8 months. Make sure to file the amended taxes for the State too. The same 8 months rule applies.

I say this in your specific situation because it appears the taxes were filed for more than 3 years. I have... View More

Request a corrected 1099 and if you do not get a corrected 1099 report the amount received to the IRS and the State. Make sure your accountant is clear on the facts and he/she notates it properly on the return.

No. It is not dischargable. But you can reduce it to a very small amount. If you file an Adversary Complaint and seek the value of the Lien determined. Then when that is determined you can pay that amount (usually determined by the amount of your Sch C on the Bankruptcy Petition) and the IRS will... View More

He may not be right. Look to see what the Martial Settlement Agreement states. My guess is it doesn't say anything. In that case go back to court to get an interpretation it could say you a bundle in future taxes.

The above is not legal advice. It is an illustration of options... View More

Generally, yes, it is tied to your trade or business or a requirement of your employment.

The above is not legal advice. It is an illustration of options that can be used in certain situations. I have not examined all of your facts, if I did I might provide a different response.

In 20 years I have never seen a tax lien cause a denial of a passport

No, not if you live in the state of incorporation. Then you can be the agent. If you don't want to be the agent you will need to pay for one.

You can go online to the Tax Court Website and put in your case name. You can also contact the attorney at the IRS who signed the Answer that was mailed to you after you filed your Petition. You might be able to also call the Clerk and the Tax Court in Washington DC

Under Federal law should be entitled to a step up in basis. That means that you will be deemed receiving the house valued at the date of death not at the date when your mother purchased the home. Thus, you will only be responsible for tax on the increased value since the date of death.

It is really apples and oranges. Tax is due on prior income and whether not you earn additional income. If you cannot pay the tax because you have no income, then contact the IRS and ask for a hold on enforced collections. They should grant a hold if you have no income. Also, filed a tax return... View More

I agree. Also note, often times people make the mistake of a second transfer to a sibling after receiving the property from a parent. They then transfer it to a brother or sister. When this happens Blam! Taxes are reassessed. There is only an exclusion between parent and children and children... View More

Generally, the state and the IRS will not come after the heirs although they can. They just get too busy to do so. They can come after whomever received the estate's assets.

It really depends what the bylaws say and I bet they don't address it. Thus, any decisions must be jointly made by the directors or could be made by the officers. My guess you are both directors and officers. If you don't want his family members working there you need to tell him.... View More

No reason to file the corporate returns (if it was a corporation). You should file your own personal returns. 1) just to update the IRS/FTB with the correct records; 2) start the statute of limitations running and 3) reduce any amounts that the IRS or the FTB may eventually say you owe.

They want all returns filed first. Get them filed, then you can get a 6, 12 or 24 month plan. They longer you go out the more financial information you will need to provide.

Proof that you are responsible to pay the mortgage. Do you have a written agreement with the other party? If not, get one. Still you might cause an audit in this case just because it might cause the IRS to look specifically at your return.

The above is not legal advice. It is an... View More

Yes, and they will. If they haven't don't call them up to ask them. You will just remind them to do it. A lien is only valid in the county where it is filed. So if you don't own real property in the county where the lien is filed it doesn't attach.

The above is not... View More

The correct answer is you should. If your husband doesn't deduct that money then it will be hard for the state to cross reference. Failure to report income (yes even alimony) can result in criminal charges, although rarely.