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Question about an amended return

I am filling out a Income Tax Amendment for for someone and I have a question. On the original return, the interest paid on a seller financed mortgage due to the fact that they did not have the...

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1099-misc

I have received a 1099-MISC from a company for items that they purchased for me. They state since they paid me a premium for the items that they are required to send this out. The dollar amount is on...

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IRS closes loophole on "Offshore Account Disclosure"

The IRS has revealed that almost 35,000 individuals have admitted to the IRS service that they have an offshore bank account, in an attempt to avoid any possible criminal penalties and prosecutions....

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IRS offers tax relief for US citizens residing abroad who owe little tax!

IRS offers tax relief for US citizens residing abroad who owe less than $1,500 in tax for a year and come voluntarily and file tax returns for the past 3 years along with the past 6 years of foreign...

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Tax Payer Advocate Services- NOT HELPFUL

I experienced an auditing Issue a while back and while doing my research ran across a post that was a life saver and saved me from what could have turned out to be an Auditing Horror. I just wanted to...

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Dependent Claim for yr 2009

Hello, I filed my 2009 tax return under "Other married nonresident alien" along with ITIN application. Since the ITIN was rejected due to insufficient doc therefore received adjusted amount. Now that i...

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Can I claim unpaid money that daughter did not contribute while living with us?

My daughter and her 3 children moved in with us last year. We were able to claim the children on our taxes last year. When the new year started she had just started to work and was suppose to give us...

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IRS Offers Tips for Year-End Charitable Giving

According to the IRS, "Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting...

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MBA tuition with employer sponsorship

Howdy, Glad to have found this forum. Tried searching for an answer, but didn't quite find an answer to my situation, so hopefully someone might have an idea :) 2006-08: worked for company A in Europe,...

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Foreign Tax Exclusion

I meet the physical presence test for the foreign tax exclusion. Part of the year I was payed a fellowship by a German institute. The second part I was paid by a US fellowship to conduct research in...

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WA state/Federal Estate questions

Hello, I had some questions in regards to estate tax returns. Parent pass away in 2012, had a house as the only asset passed on to the estate, which is then sold within 1 year. The money is then...

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My first post!

Hi,I'm Aidan.I'm newbie here.I'm 25 years old.I'm the student of MBA(Finance).Very useful forum and I've already picked up loads of great ideas about Income Tax. This is a great site and im hoping to...

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Claiming non-related children on taxes

Can anyone please settle this for me? I've done tax returns for myself and family for years. Last year a family member separated from her husband. She didn't work at all in 2012. She has a boyfriend...

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Non married couple - who claims the child?

My son and his girlfriend had a child in August of 2012. They had a place of their own, lived with me for a while and lived with her parents for a few months. Early January 2013, they have split up. In...

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Establishing FMV on Real Estate Upon Death

My father passed away in 11/2012 and left me his home. My attorney advised me that it was not necessary to establishing the Fair Market Value of the house until I sell it. Friends are urging me to...

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House in Trust, I live in it with my disabled bro

My Mom died in 2010 and the house was placed in trust to be eventually sold and split 4 ways amongst the sibs. I moved it, to live with and take care of my mentally challenged brother. The problem is,...

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Foreign C Corp Help with Taxes

Hi, I am the single owner of a Delaware C Corp since Jan, 2012 and its almost time to submit taxes. I am not a US resident. My Inc. has not started trading yet, only incurred expenses such as...

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Form 1098-T

My wife received a form 1098-T from the university in which she is currently enrolled. Her employer pays for her tuition so anything listed on this form cannot be claimed by us right?

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IRS announces that it will begin to accept tax returns claiming education...

The Internal Revenue Service announced that processing of tax returns claiming education credits will begin by the middle of February 2013. "Taxpayers using Form 8863, Education Credits, can begin...

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Can a husband and wife operate a business as a sole proprietorship or do they...

According to the IRS, "unless a business meets the requirements listed below to be a qualified joint venture, a sole proprietorship must be solely owned by one spouse, and the other spouse can work in...

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