Short answer: yes.

When you examine whether you qualify for insolvency, read IRS publication 4681. Page 6 includes an insolvency worksheet. Insolvency looks at all your assets (and equity in assets) as well as income to determine whether you are insolvent or not. If your assets,... View More

The most important question is whether you qualify for an offer in the first place. This will depend on the equity you have in your assets combined with your expected future income.

That said, offers can run between $3000 and $6000 depending on the complexity of the offer and whether... View More

Contact a Low Income Taxpayer Clinic in your area. You can run a search by going to the Taxpayer Advocate Service website.

If your situation is accurate, the clinic should be able to help you.

It wasn't clear what you meant by the return was accidentally filed with the copies. It sounded like you sent the return to the IRS. In any event, the short answer is probably "no". If you could somehow prove that you properly sent the returns to the IRS on time, and that the IRS... View More

The most important question is why believe the 1099 income was not taxable. IRS publication 525 specifically lists the kinds of income that are not taxable. https://www.irs.gov/pub/irs-pdf/p525.pdf You may be able to get a caregiver tax credit if you are a family member or "qualifying... View More

Contact a tax attorney immediately. If you are a low income taxpayer, you can go to a low income taxpayer clinic in your state.

This is very serious and shouldn't be handled by yourself.

Contact a tax attorney or an enrolled agent as soon as possible. If you are considered a low income taxpayer, you can seek help with a Low Income Taxpayer Clinic in your state.

You can also try the Taxpayer Advocate.

If you're at the garnishment phase, you need help immediately.

A CPA will help you get the returns, certainly, but many lack the training or background to be able to help you with the resulting tax debt. What you need is either a Tax Attorney or Enrolled Agent to guide you through that process - they can prepare returns as well. Fortunately, it's a... View More

To put things in perspective, it's important to remember that an S-Corporation is its own legal person, separate and distinct from its owners. When you, as a single person, elect to turn your LLC into an S-Corporation, you automatically wear two hats - that of a business owner and that of an... View More

I believe what you're looking for is called a Section 1031 "Like-kind Exchange." Here is an IRS publication on the issue that goes into the transaction a little https://www.irs.gov/uac/like-kind-exchanges-under-irc-code-section-1031

There are many practitioners who focus in... View More

US Citizens or resident aliens are required to report income from whatever source, US or abroad. It doesn't matter whether you bring it back or not - you are required to report it on a US tax return. Failure to properly disclose income from foreign sources or foreign accounts can result in... View More

The short answer is: documentation of the income you receive for the website. If you're just reporting it as income on your tax return, it shouldn't be too difficult. Where you report it depends on whether you categorize it as a "hobby" business or a "real" business.... View More

The rules are a bit different depending on whether your business is a Sole Proprietorship (Schedule C), a C-corporation, or S-Corporation. If you're like most taxpayers, you're probably using a Schedule C to report this to the IRS. In claiming business use of a vehicle, strict rules... View More

The IRS letter will tell you which tax form the delinquency is for, as well as the tax year. Make sure your confirm that the letter is for your business and not you, personally, because they can be two separate issues. It's difficult to know exactly what the issue is without seeing the... View More

This is a really broad question. However, many times, "write-off" is used instead of the proper term "business expense" or "business deduction," which can make things confusing. An accountant would be able to help you with these kinds of issues - accountants are an... View More

If you meet the low income qualifications, you can find assistance at a Low Income Taxpayer Clinic, many of which have student attorneys supervised by practicing attorneys. However, outside specific law clinics, a student can't help you with your petition because that could constitute... View More

Tax law is certainly complex and depends entirely on your factual situation. It's commendable that you're inquiring about your tax obligations at such an early stage. Getting these systems down will greatly benefit you in the long run.

The IRS publishes small business guides... View More

You should find a Tax Controversy attorney to handle the matter. There are a lot of different ramifications that depend on the exact factual scenario.

For example, a "side business" that involves occasionally making trinkets and selling them on Etsy is very different from a... View More

This is a question that has a lot of moving parts that depend on the exact factual situation. You should probably find a Tax Attorney to go over the fine details.

If you want to find out more about your situation, the IRS provides many publications for taxpayers to use, in this case IRS... View More