Taxes General Forum

Does filing my s corp tax return late and filing my personal tax return on-time increase my chance of audit?

My accountant filed my personal tax return this year on-time but he filed a automatic 6 month extension for my s corp....

3 comments posted 12yrs

posted by superprimenova

3 comments posted 12yrs posted by superprimenova

Educational expenses

I knew (or think I know) that the earnings from my child's 529 plan can be used tax free for required educational expen...

2 comments posted 12yrs

posted by markalancaster

2 comments posted 12yrs posted by markalancaster

Been paying for my familys flight to the USA and they pay to my UK account

For the last 12 years I have been paying for my family to visit me in the USA, I pay out of my usa account and they rep...

1 comments posted 12yrs

posted by tynewood

1 comments posted 12yrs posted by tynewood

NYS Star Exemption question

They are making everyone reregister this year, based on 2012 income. I converted my IRA last year, giving me an income...

2 comments posted 12yrs

posted by *

2 comments posted 12yrs posted by *

First Time Home Buyer: Recapture of credit

Hello, and thank you in advance for any help you can provide: Taxpayer bought a home (#1)on 4-22-2010 and took the "lon...

1 comments posted 12yrs

posted by mmurrellcpa

1 comments posted 12yrs posted by mmurrellcpa

Legal and medical conservatorship expense deductions

If someone is showing serious mental problems but does not wish to be treated, considerable legal and medical expense m...

3 comments posted 12yrs

posted by SalmonEgg

3 comments posted 12yrs posted by SalmonEgg

K1 & Traditional IRA contribution

Can anyone who receives income from an S Corp (reported on a K1)make a deductible contribution to a Traditional IRA the...

2 comments posted 12yrs

posted by Carl G

2 comments posted 12yrs posted by Carl G

NOLs and rental income from non-active participation

If you receive rental income where you are not actively participating is it considered to be non-business income?

4 comments posted 12yrs

posted by Don.Steiger

4 comments posted 12yrs posted by Don.Steiger

Florida Residency

I would like some advice on how we might legally establish Florida, as our state tax domicile. We now own a house and l...

6 comments posted 12yrs

posted by news

6 comments posted 12yrs posted by news

When does 3 year audit period end?

My understanding is that the IRS has 3 years from date of filing to do an audit, assuming they are not claiming fraud....

10 comments posted 12yrs

posted by *

10 comments posted 12yrs posted by *

Day Trader or Investor

For those of you who deal with the subject, you may be interested in the latest Tax Court decision that determined the...

3 comments posted 12yrs

posted by tempuser

3 comments posted 12yrs posted by tempuser

Treasury Releases DOMA Rules

The Treasury Department issued a press release stating that same-sex couples, legally married in jurisdictions that rec...

4 comments posted 12yrs

posted by tempuser

4 comments posted 12yrs posted by tempuser

Gift Tax on Foreign Real Estate ??

If I as a US resident/citizen/retired taxpayer make a "gift" of my interest in a "inherited" piece of real estate in th...

1 comments posted 12yrs

posted by Retired

1 comments posted 12yrs posted by Retired

IRA Form 8606 - wrong Basis, prev years zeroed

In reviewing our situation for potentially converting a Traditional IRA to a Roth IRA, I went thru and documented all o...

2 comments posted 12yrs

posted by pschuman_no5pam_m3

2 comments posted 12yrs posted by pschuman_no5pam_m3

Estate Beneficiary

I have what seems to me to be a very unusual situation, and I'd appreciate any insight you may have. Person A died and...

3 comments posted 12yrs

posted by spamtrap

3 comments posted 12yrs posted by spamtrap