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» Recent Tax Q&A
  Title, Username, & Date Forum
Go to first new post Meals allowance by client question
Go to first new post Liquidation distribution to C corp shareholders
Go to first new post Donating Employee Services
Go to first new post Gifting limits - family vs charity
Go to first new post Form 1041 Question
Trusts and Gift Tax Returns
Go to first new post Acquisition or Abandonment of Secured Property
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Homeowner Tax
Go to first new post Roth early withdrawal 5 year rule
Go to first new post Tax liability for WY LLC by Non-US resident
Limited Liability Company
Go to first new post State victim of violent crimes compensation program
Go to first new post Section 179
Student loan discharge / taxable income
Jul 30, 2015 - 7:39 PM - by Pegasus5726

I put myself through college and law school with student loans and became disabled shortly after passing the bar and was unable to pay any of the $100,000 student loan ($200,000 with accrued interest). Because my disability was permanent, after 20 years of disability, the total $200,000 owed was discharged in the year 2011. My only income is and has been $980/mo SSDI. I never filed a tax return over the years because it's not required based on my income. I didn't file... [Read More]
Gross Earnings
Jul 30, 2015 - 3:52 PM - by kpope64
My husband is a subcontractor driver. IRS has just brought to our attention that in 2013 after only working for the company for two months his gross pay was $1955.00 however this is not what he brought home, as the company deduct insurance, fuel, and whole bunch of other stuff that doesn't relate to tax, ss, or Medicaid. My question is wouldn't his gross be what he physically brings home on a check? I am only asking as they are now saying he owes $7,000 taxes on 19,000
Cancellation of Debt - Fraudulent Account
Jul 21, 2015 - 4:30 PM - by julesa
I have a cancellation on an adjusted tax from a credit card that was based on fraud. I tried in the past (back in 2008) to tell the Credit Card company that this was a fraudulent account. The credit card company kept sending me just statements, no signature card or anything.

When I tried to dispute that with the IRS, the letter I get says I should contact the credit card company for a correction. I have about 2 weeks based on the time I get the letter from the IRS, which... [Read More]
In Office Examination Notice
Jul 15, 2015 - 6:22 PM - by eR1c
This is my first post, am hoping someone with experience can help answer a few questions and maybe calm my nerves.

I recently received a notice in the mail requesting an in office examination of my 2013 taxes. It listed 3 areas to address, "Gifts to Charity/Cash Donations", "Home Business/Office" and "Capital Gains/Losses".

I called the IRS agent to confirm my meeting, and have gathered all the requested receipts and... [Read More]
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