My mother died owing the IRS. The estate does not have enough $ to pay debt. Do heirs inherit the debt? My grandfather died in 1997. My mother received her share of the estate in 2005. She then died in 2006. She had given away 80% of the cash she inherited before paying any estate taxes. The remaining estate consists of the following: three cars, an apartment held in joint tenancy, and a house that she owned jointly with 10 siblings. The tax was $100,000 but the estate is worth much less than that. Will we, her children inherit the IRS tax liability if the estate cannot pay? By the way, there wasn't a will. Thanks.

Is interest on real estate taxes deductible for the IRS I let several years of realestate taxes go delinquent. When I paid them there was interest added on. Is that interest considered part of the tax bill and can I deduct it?

aministrator of estate no financial records of deceased uncle. What do I do when I file taxes with the IRS? I was appointed administrator of my uncle's estate. I thought he had his financial records...Unfortunately, he died incompetent and no will (intestate)...There are no legal records. I live in KS...He lived in NY. He filed no taxes with the IRS, since 2003. My records began in 2007. What do I do if I do not have any financial records and there is a small estate connected to 2 mortgage notes?

Do we pay enough taxes? Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Excise Taxes Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax (42 cents per gallon) Gross Receipts Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Personal Property Tax Property Tax Real Estate Tax Service Charge Tax Social Security Tax Road Usage Tax Sales Tax Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Taxes Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Taxes Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax

How can one find the market value of real estate from prior years in order to determine the basis for IRS.? My husband and his sister received the family home via a quitclaim deed 4 years ago. He sold his sister his 1/2 by removing his name. We were hit with capital gains taxes badly. I think he should not have reported the entire gain but have determined the basis when he received it but don't know how to find the market value of the house 4 years ago.

figuring capital gains on mothers estate for 06 taxes,what does irs require to establish market value? house in poor repair. sold it for current tax value. no appraisal conducted.

If I buy life insurance with my sister as beneficary, when I die could IRS take that if I owe IRS taxes? I owe back taxes which I am paying on installment plan. If I suddenly die, and my estate still owes federal taxes and there are no assets that can cover the taxes in probate process, could IRS lay any claim to a term policy that shows my sister as sole beneficiary. I help my sister financially and want her to have this if I die before she does.

TAXES this is sad but true? (long but worth the read)? Willys cynical thought for the fugging day; People who love sausage and respect the law should never watch either of them being made! TAXES What Happened? At first I thought this was funny...then I realized the awful truth of it. Be sure to read all the way to the end! Tax his land, Tax his bed, Tax the table At which he's fed. Tax his tractor, Tax his mule, Teach him taxes Are the rule. Tax his cow, Tax his goat, (See Devo & RR you ain't immune! LMAO) Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he Tries to think. Tax his cigars, Tax his beers, If he cries, then Tax his tears. Tax his car, Tax his gas, Find other ways To tax his ass Tax all he has Then let him know That you won't be done Till he has no dough. When he screams and hollers, Then tax him some more, Tax him till He's good and sore. Then tax his coffin, Tax his grave, Tax the sod in Which he's laid. Put these words upon his tomb, "Taxes drove me to my doom..." When he's gone, Do not relax, Its time to apply The inheritance tax. Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax (99% of price of cigarettes is tax! I remember they sold for 25 cents!) Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax, Fuel permit tax Gasoline Tax - 42 cents per gallon (I remember 1972 a fawking gallon cost 39.9 cents!) Hunting License Tax Inheritance Tax Interest expense Inventory tax IRS Interest Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge taxes Social Security Tax Road usage taxes Sales Tax Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone federal excise tax Telephone federal universal service fee tax Telephone federal, state and local surcharge taxes Telephone minimum usage surcharge tax (WTF is this? You mean if nobody uses the phone I get taxed? Am I the only 1 that's weird to?) Telephone recurring and nonrecurring charges tax Telephone State and local tax Telephone usage charge tax Utility Taxes Vehicle License Registration Tax Vehicle Sales Tax Watercraft registration Tax Well Permit Tax Workers Compensation Tax COMMENTS: Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened??? And I still have to "press 1" for English I hope this goes around the world 10 times....... http://www.willyblues.com/

I live in New York. I am on SSD and get money from my parents estate,from a lawyer. Do I pay taxes on both.? I get $1120.00> SSD and $3000.00 from the estate.I owe IRS taxes from many years. So far they have collected only $3000.00 What to do?

Real estate taxes, where to claim? I'm using a tax prep software and during the process I'm asked to list the taxes I paid per the tax form mailed to me by my mortgage company. I don't pay taxes by way of my mortgage, rather I have the money put aside to earn interest and then pay the taxes myself every 6 months when they are due. The software and tax form asks the amount of taxes paid based on box number whatever of this tax form I got from the mortgage company, but as I stated, that box is empty. How do I claim these taxes on my tax return? If I list them in this box entry and yet the IRS sees that entry as zero or empty, won't that throw up a red flag and possibly generate an audit? Do I simply enter these taxes under the "sales taxes paid" deduction?

taxes................................? Lets see what taxes Americans pay. Accounts Receivable Tax , Building Permit Tax , Capital Gains Tax , CDL license Tax , Cigarette Tax , Corporate Income Tax , Court Fines (indirect taxes) , Dog License Tax , Federal Income Tax , Federal Unemployment Tax (FUTA) , Fishing License Tax , Food License Tax , Fuel permit tax , Gasoline Tax (42 cents per gallon) , Hunting License Tax , Inheritance Tax Interest expense (tax on the money) , Inventory tax IRS Interest Charges (tax on top of tax) , IRS Penalties (tax on top of tax) , Liquor Tax , Local Income Tax , Luxury Taxes , Marriage License Tax , Medicare Tax , Property Tax , Real Estate Tax , Septic Permit Tax , Service Charge Taxes , Social Security Tax , Road Usage Taxes (Truckers) , Sales Taxes , Recreational Vehicle Tax , Road Toll Booth Taxes , School Tax , State Income Tax , State Unemployment Tax (SUTA) , Telephone federal excise tax , Telephone federal universal service fee tax , Telephone federal, state and local surcharge taxes , Telephone minimum usage surcharge tax , Telephone recurring and non-recurring charges tax , Telephone state and local tax , Telephone usage charge tax , Toll Bridge Taxes , Toll Tunnel Taxes , Traffic Fines (indirect taxation) , Trailer registration tax , Utility Taxes , Vehicle License Registration Tax , Vehicle Sales Tax , Watercraft registration Tax , Well Permit Tax , and Workers Compensation Tax. Not one of these taxes existed 100 years ago and America was the most prosperous nation in the world, had absolutely no national debt, had the largest middle class in the world and Mom stayed home to raise the kids. , , What the hell happened?

Can a refund be received after IRS filing tax lien against Real Estate Property? A tax lien has been filed against our home for taxes my husband owes (we file seperatly). Once his 08 return is filed and a refund due will he receive that? Tax lien filed against our property last summer...??

What is the time limit the IRS has to collect federal back taxes from the estate of the deceased? 7 years?

Where to buy Real estate, IRS and federal tax lien certificates in Michigan? Hello, I've done research a bit and I am interested to buy tax liens in Michigan, what place do you suggest me to start asking?

My dad passed away. What kind of estate taxes things do I have to take care of? Whom do I contact? Do I just file something with irs? Do they come and check the estate? What are the procedures? Where can I read more about it? I am lost in a moutain of work.

Can the IRS place a taxlien on Real Estate owned by 2 People? If me and a business partner own a piece of real estate, and my partner is behind on taxes, can the IRs lien a property we own as joint tenats, and if so how does this affect me.

If I have recently been added to a deed and mortgage on an home owned by my mom, can I claim loss Taxes? When I file for IRS tax, can I deduct the real estate taxes and interest for the entire year of 2007 even though I was added to the mortgage and deed toward the end of the 2007 tax year only?

What activities does the IRS counts toward Real Estate Professional Status for Tax Purpose? I understand the 50% of time and 750 hrs rule that a person must spend in real estates activities to be able to claim Real Estate Professional Status (to allow claiming of passive income/loss as active). A person must also materially participate. What activities does the IRS count toward this 750hrs rule? I have heard that the IRS does not count time spend on research, time spend managing contractors, etc?

Why did the IRS "drop the ball" for estate tax in 2010? The IRS really messed up the estate tax for 2010. How did they do this and what happened?

How does the underpayment of IRS federal income tax work? Say for instance that my 2006 taxes are fully paid. Yet for 2007 after I file for my return next year in april that it turns out I underpaid by 2000 dollars. Will I owe the IRS a penalty for this? Second senario. Say that for 2006 my taxes are fully paid. But for 2007 I am also getting a tax return of around 100 dollars because of all my deductions such as charity, real estate tax and interest etc. Even though I technically underpaid the IRS before the deductions, after the deductions are accounted for I still have a return. Will I owe any penalty for underpaying before the deductions are accounted for? Please let me know what my consequences are for both senarios. I want to clarify Senario 1. I mean that if I am fully paid for tax year 2006 but when I am filing for 2007 it shows I underpaid for 2007 not 2006. Again 2006 is fully paid. I'm just speaking of 2007 is underpaid. I heard if you are fully paid for the prevoius year then it doesn't matter if you underpaid for the current year when you file.

Are these taxes really necessary? Subject: What is a billion? What is a 'billion'? Now here's a reality check! This is too true to be very funny The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. While this thought is still fresh in our brain, let's take a look at New Orleans. It is amazing what you can learn with some simple division Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean? A. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528. B. Or, if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787. C. or, if you are a family of four, your family gets $2,066,012 Washington, D.C. HELLO! ... Are all your calculators broken? Tax his land, Tax his wage, Tax his bed in which he lays. Tax his tractor, Tax his mule, Teach him taxes are the rule. Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirts, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he tries to think. Tax his booze, Tax his beers, If he cries, Tax his tears. Tax his bills, Tax his gas, Tax his notes, Tax his cash. Tax him good and let him know That after taxes, he has no dough. If he hollers, Tax him more, Tax him until he's good and sore. Tax his coffin, Tax his grave, Tax the sod in which he lays. Put these words upon his tomb, 'Taxes drove me to my doom!' And when he's gone, We won't relax, We'll still be after the inheritance TAX!! Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax(SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fee Tax, Telephone Federal, State and Local Surcharge Tax, Telephone Minimum Usage Surcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone St ate and Local Tax,Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened? Can you spell 'politicians?' And I still have to 'press 1' for English The question is; are these taxes really necessary? I didn't put this here just to be insulted...and NO I am NOT clueless!! Just asking opinions....

How long should I expect the IRS to take to clear an estate valued under $800,000.00? After the 2005 personal taxes were paid all monies were distrbuted except for $50,000.00. Beneficiares were told this was being held until the IRS cleared the estate for closing. We were told this could take 18 months to 2 years by the CPA for the estate. We have been told by others this should only take 4 to 6 months.

Do taxes on a estate have to be done again in 2010 if they were done in 2009? I am a beneficiary on a estate will in 2009 a tax return was submitted to the IRS and the state. So far this year the will has not been distributed to the heirs. If the estate does not get settled by the end of the year do the taxes have to be resubmitted again in 2010? It took about six months for the IRS to work on them this year. I sure would not want to wait another year to get the estate settled and distributed.

If I have a small home-based business and I have not filed any taxes in 3 years, what are the penalties? Let's say that I've calculated most of the 2003 year and have concluded that I didn't owe any taxes for 2003 and 2004 but instead am due a refund. I'm working to get a good accountant but find that most don't know about tax shelters, estates, or any of the small business (home based) irs laws. Please, this is serious. Don't respond if you don't have a quality answer for me.

Can inherited assets be seized due to unpaid estate tax? All of the questions here from persons who incorrectly think that the U.S. taxes the heirs have gotten me thinking: If an estate that owes estate tax does not pay it, and instead (illegally) distributes all the assets to the heirs, including the money that should have gone to the IRS, what happens? Can the IRS seize the assets that the heirs received from the estate? Obviously, the IRS cannot have a dead person arrested for tax evasion. Do the heirs become personally liable for the tax? Is only the executor personally liable?

What is the best way to protect an estate worth over 4million dollars from getting taxed from the IRS? I have a friend that has parents that have over 4 million dollars in their estate, they need to know how to protect it from the IRS getting most of it. The domicile is in Arizona and also need to know which state law will preside over the estate.

How long from the time the IRS places a lien on Real Estate to the time they can auction the property? I am the executor of the Estate that owns Real Estate valued at well in excess of $500,000 and the estate owes roughly $25,000 in back personal income taxes on behalf of the deceadent to the IRS. Once the IRS places a lien on the Real Estate owned by the Estate, how long does it take before the IRS is able to force the property for sale or auction? Selling the property is not an option as it has been in the family for many years and is historically a very important piece of real estate. We will be able to pay off the IRS in full over the next four months, although, I am I am concerned about the auction process between now and then. If they place a lean on the property, how long after they place the lien before the IRS is able to force the sale of the Real Estate?

I need information about IRS Real Estate Auctions? I am looking for houses that are being auctioned off by the IRS for tax default.

What are the odds the IRS will go after a small estate that was mishandled after death? Long story short, someone in my family passed away with numerous debt including federal and state taxes. The person who is handling the estate is considering paying the leftover amount (25k) to the ex wife because the deceased man did not pay child support or alimony to her and she also had to pay for his death expenses. What will the IRS do if they find out since its a relatively small estate and death expenses are already totaling up to over 10k? We live in California.

Does US have the most unfair tax system in the world? Accounts Receivable Tax Building Permit Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax) IRS Penalties (tax on top of tax) Liquor Tax Luxury Tax Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge taxes Social Security Tax Road Usage Tax (Truckers) Sales Taxes Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Tel telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Tax Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Tax Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax. What about Estate tax and tax on Social Security benefits? isn't that double taxation? Who loves to pay tax on the money you have already paid tax on or you paid tax on when you were alive? What about Exit tax congress is trying to pass? Isn't that same as what Nazis did to the Jews back in WWII? Regarding taxes in Europe, remember many of them have better social benefits, free health care and free education. I think our ancestors who left England paid less taxes than we do now, and they were free to leave. Are we free to leave to protect your hard earned money? Constitution says you can, but it's extremely difficult in reality. What does that say about our tax system? Please consider all angles before reply.

estate problem with IRS? My Mom passed 6 years ago. Before her passing she cashed out her annuities and savings to avoid the hospital getting the money. The money went to a trust and then to me. At her death we sold her house and cleared probate and then I received the proceeds. The IRS is now saying that when she cashed out the annuities she never paid taxes on the income. Nw the IRS is saying the estate owes money to the IRS. Do I personally owe the money? FYI it's been spent over the 6 years.

How do I go about gett ing a federal tax ID for a deceased's estate? My mom passed away last year and one of the things on my "to do" list is to obtain a federal tax ID for the estate. Would I go to the IRS to do this? Also, are estate taxes due on April 15th?

What docs do I need to file taxes for my deceased fathers estate? My father passed away in 2005. I set up an estate account for him in 2006. He had a 401k account which I cashed out about $23,000 from the account in 2007. I received a tax statement this year for his estate. My father had nothing else except for the 401k account. What do I need to file with the IRS?

Is the IRS necessary for the United States Economy to do well??? I think that we have enough taxes (taken from someone elses post) Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax, Fuel permit tax Gasoline Tax (42 cents per gallon) Hunting License Tax Inheritance Tax Interest expense Inventory tax IRS Inter est Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge taxes Social Security Tax Road usage taxes Sales Tax Recreational Vehicle Tax School Tax State Income Tax Unemployment Tax (SUT A) Telephone federal excise tax Telephone federal universal service fee tax Telephone federal, state and local surcharge taxes Telephone minimum usage surcharge tax Telephone recurring and non-recurring charges tax Telephone state and local tax Telephone usage charge tax Utility Taxes Vehicle License Registration Vehicle Sales Tax Watercraft registration Tax Well Permit Tax Workers Compensation Tax Ron Paul sounds better and better everyday!!! No. THere is no plan B. We are effed. LOttery Tax !! LOL Casino winnings tax!!!

About the guy with the ball and the irs...? So if the guy that caught that 1million dollar baseball, and decides to keep it, and then dies, would the irs tax his estate the 35% of the 1million? What if he lost the ball? What if it wasnt worth anything anymore, only the 1 dollar walmart price? What if he sells it to his freind in another country who isnt a us citizen for 1 dollar? Will they tax him 350k for that 1 dollar he made?

Do I have to Pay Taxes on money given to me and money from an estate? my father died,his will stated that myself and my sister split whatever is left in his bank,savings etc accounts.My sister is shady she is overseeing the will through his attorney.I received 8,000 dollars,she now "claims" she turned my information into the IRS and that i must pay taxes on the money.She is in Cali where the will was drawn & where he died,I am in Texas.Also,he sent me 7,000 dollars about 3 weeks before he died in the form of a wire transfer from his bank to mine.She also has claimed to turn it into the irs so i will have to pay taxes on it.Can she legally do this and can the IRS make me pay taxes on it? The 7000 was a gift from him.so in total she wants me to pay taxes on 15,000 dollars.Can this be done? t/y everyone for the feedback.It's a long story with reguards to his death.My sister claims she has hired his attorney as her own to handle the estate.it went to probate court on aug 22 but have heard nothing.my sister wont tell me anymore information and this attorney is a complete d*ck,cause my sister told him i'm a crack ho,which is untrue,so when I do call to ask about the estate,he reguards me as a money hungry idiot.My father died under foul play which his body was held at the morgue for 20 days due to police investigation,my mother died 6 weeks prior to this due to a suicide which was also put into investigation,my sister was their "caretaker".This 8 thousand is from his bank accounts.The house,cars and other items somehow got transfer into her name,all the titles etc,before he died.The lawyer sent me copies of the titles,which show just his sig on it not hers.When he died the attorney said the cars etc were to be sold and split,now he claims my father gave them to her.fishy!!!

Does a trust or estate need to pay income tax? I know that a trust or estate,for tax purpose, serves as a tax conduit whereby no income tax on it. Is my understanding correct? if correct, how come the IRS has income tax rates for estates and trusts? If a trust or estate distributes its current year's income to its beneficiaries, does the trust or estate need to pay income tax on its distribution?

Estate Taxes? How are the deductions on estate taxes calculated. The family business, which is the estate mainly, is going to cause the tax. Are there any % the IRS goes by based on value? I can only find the maximum % on their site(46%).

Are you feeling taxed over taxes? A poem about taxes Tax his land, Tax his bed, Tax the table At which he's fed. Tax his tractor, Tax his mule, Teach him taxes Are the rule. Tax his work, Tax his pay, He works for peanuts Anyway! Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt.. Tax his tobacco, Tax his drink, Tax him if he Tries to think. Tax his cigars, Tax his beers, If he cries Tax his tears. Tax his car, Tax his gas, Find other ways To tax his a__. Tax all he has Then let him know That you won't be done Till he has no dough. When he screams and hollers, Then tax him some more, Tax him till He's good and sore. Then tax his coffin, Tax his grave, Tax the sod in Which he's laid. Put these words upon his tomb, ' Taxes drove me to my doom....' When he's gone, Do not relax, Its time to apply The inheritance tax. If this isn't enough, there's more... Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Excise Taxes Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax (42 cents per gallon) Gross Receipts Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Personal Property Tax Property Tax Real Estate Tax Service Charge Tax Social Security Tax Road Usage Tax Sales Tax Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Taxes Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Taxes Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. Thank you Kitty! I say; "Flat Tax"! Or is this a song from the Beatles? Fantastic response Jon! Did you write this? Or is this a song from the Beatles?

Can the IRS Levy A closed estate? My wife was the exec of her mothers estate, She owned a home worth 80k she owed 65k on the home the other siblings signed letters giving up their right to any profit from the home. The said home was then purchased by my wife and I. The estate went threw probate and has been closed for close to 2 years. The Estate received a letter from the IRS stating this is not a tax bill but a levy has been imposed because her sister apparently did not pay her income tax for a few years. Now there was no issues with the estate owing taxes ETC. Just curious what they think they can levy. Since there are no assests remaining from the estate.

What IRS form is a federal estate tax return filed on? (Florida)?

What are tax consequences if estate of deceased is the beneficiary of his IRS? IRA is what I meant to say. Sorry. What are tax consequences if the estate of the deceased is the beneficiary of the deceased persons IRA? Is the estate immediately subject to income tax on the full amount of the IRA?

Why Is Bush firing 1/2 of the IRS lawyers devoted to bringing estate tax cases? Is it to let his rich Republican friends off the hook? I think so.

Hpw do I take care with IRS & CA tax? Sale of real estate property? I need some quick cash.Hence, I am selling my land (Real estate) property to my friend for appx 20k. We have mutual understanding whenever I return back 20k(It may be one year or any number of years) plus 5% flat every year, he will return the title to me.For example, if I want to get back the land after two years, I need to pay him 22k. In case, I do not return 20k+5% or some unfortunate situation, he continue to keep and use the property. If I return 20k+5% after 2 or 3 years, how can I show this with IRS, CA tax and property tax..etc. The main issue is when I purchased originally, I paid 40k, but the current market rate is 20k only. since I need quick cash, he agrees to pay at market rate only. The reason: The land is actually at half moon bay PUD, only speculative investment. I need some quick cash for down payment to buy a home. Using a land, no one gives loan too. I am actually selling the land to him to get the money to put down payment. If , at a later point, I want to get it, I need to add 5% to get back the land. Otherwise, the property continue to be with him. I do not know whether I will get back it or not. This is just an option when I am selling. He is close friend of mine and he is ready to help me with a short term cash without collateral. But, if something happens to me or any legal issue, he may not be protected. Hence, both agree to transfer the title legally so that his money is protected.

TAXES - I own a home which is rented out. How can I get the biggest tax break? My mortgage is $1550 per month and taxes are $6500 per year. I rent the house out for $1375 per month at a loss every month. BUT... If I file taxes reporting the rental home as an active income generator (at a loss) I can only deduct "X" dollars for my loss (this of course would include maintenance fees, home owners insurance, HOA dues, etc.). If I just deduct the mortgage interest and taxes I get a bigger deduction. Is it OK for me just to deduct my interest and real estate taxes and get the bigger deduction? Or do I HAVE to report it as an income generating venture even though I take money out of my pocket every month just to hold on to the house? How would the IRS look at it? The way I see it I get penalized for owning my home and renting it out. I guess I would have to be losing alot more money every month to make it work in my favor... Any experts out there? Thanks.

What is the trustee of an estate responsible for when it comes to taxes? My mother, sister, and grandmother are trustees of my great grandmother's estate. The beneficiaries received disbursements from the estate in September of 2008. I need to know whether or not the trustees need to report this disbursement to the IRS since the beneficiaries of the disbursement need to report it as income.

Why do the same conservatives who idealize a "meritocracy" whine about an estate tax that effects millionaires From the IRS site on Estate tax: On one hand, they say that everyone should be given an equal playing field to prove their worth, then on the other hand they think that millionaires shouldn't be taxed when they leave millions of dollars to their kids. They even have the nerve to lie to the American public and make it look like it will affect people who aren't millionaires. To reemphasize: Most relatively simple estates (cash, publicly traded securities, small amounts of other, easily valued assets and no special deductions or elections or jointly held property) with a total value under $1,000,000 and a date of death in 2002 or 2003, under $1,500,000 and a date of death in 2004 or 2005, and under $2,000,000 and a date of death in 2006 or 2007 do not require the filing of an estate tax return.

Do I need to file a IRS form 1041 for my mothers estate? If someone with estate knowledge help me to know if it would be necessary for me to file a 1041. I'm an only child & everything she owned home, bank accounts, stocks & bonds were held jointly with me. There was no will or court involved. She died on 11/22/06 & I had everything out of her name & social security number into mine by the end of the year. So is it necessary to file a form 1041? There was not any inheritance tax to pay because her entire estate was not over the limit. Please any advice on this matter would be appreciated. Thank you

What are the IRS taxes on executor "Fee in kind"? My mother died in 2008 and I was the designated executor for her modest estate. It was a huge amount of work (clearing out, fixing up and selling her large, cluttered house among other things like filing all the documents and dealing with the accounting). I was entitled to an executor's fee but chose instead (with the agreement of my two siblings) to waive a cash fee and take possession of her 6-year old car instead, which was worth $4,000 (we reported that value as my "fee in kind" on the PA state inheritance tax forms and the final settlement of the estate net value after expenses). I'm filing her final tax forms right now and my own and I've gotten two different answers on how I report the $4,000 value of the car as "income" on my return. The estate attorney says I not only have to declare the $4,000 as gross taxable income but I also have to pay self-employment Social Security tax on that amount. On the other hand, a good friend who is a professional tax accountant says that though I do have to list it as "miscellaneous income", I DO NOT have to pay social security taxes on it. Unfortunately, reporting this "added income" is going to cost me over $700 in federal income tax. I hate to also have to pay social security on it. Anybody know if this is necessary or not? And do I really have to report it as "income"? I realize I won't get the answer in time to file today, but I expect to have to file an amended return anyway since I have run out of time to pull together a number of deductions that I could use, especially medical for both her and myself, for last year. So, if you have an answer, I would appreciate it.

Is it normal to be asked to do taxes if you had no income&got real estate liscence but did no transactions? They're saying (The IRS), that based on the average salary that professionals of that type (Real estate professionals) make per year that the assessment they are interested in receiving is around $3,000, but no transactions were done whatsoever, the real estate license was obtained but no business was done. They sent a proposed assessment, which they said was not a bill and that I could give an explanation if I did not have a filing requirement etc....and once I filled it out completed with the explanation, attached to their forms on a separate sheet, they responded by sending a bill? How can I prove that I did no transactions, what documents do I need to show this?

Doesnt our government, now infected with the Pelosi/reid regime have enough taxes without wanting more? Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax, Fuel permit tax Gasoline Tax (42 cents + per gallon) Hunting License Tax Inheritance Tax Interest expense Inventory tax IRS Interest Charges IRS Penalties (tax on top oftax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge tax Social Security Tax Road usage taxes Sales Tax Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone federal excise tax Telephone federal universal service fee tax Telephone federal, state and local surcharge taxes Telephone minimum usage surcharge tax Telephone recurring and non-recurring charges tax Telephone state and local tax Telephone usage charge tax Utility Tax Local to Fed. Isnt it enough? This is only a partial list. None of these taxes existed a hundred years ago. We, at that time, were the most prosperous nation on earth. It's obvious where the liberal welfare and tax and spend schemes have taken us. Look no farther than cut and run and the massive massive pork attached by Ms. Pelosi to protecting our soliders. Simple question here really: When is enough enough, and how can we get the liberal extremists to wake up? I suppose even god loves a liberal for some reason, I just cant figure out why? Let's get it right people OK? John Edwards, pre flip flop, Hillary and other extremists VOTED FOR IRAQ, so its not Bushs war. Next, the only thing Clinton did was to take unjustified credit for the Reagan tax cuts and welfare reform(after four successive vetoes) from the Contract With America. What we "got" from Clinton was an indicted and impeached president and white house character to an all time low. Character is not built through poltical correctness, polls and confiscatory taxes. The pelosi/reid regime, through cut and run should show you that. I think it was said along time ago best, those who dont lean from history are condemned to repeat it. Obvouisly the liberals here are vieing to be first in line. Yes, Im well aware taxes pay for things. The problem is. DO WE REALLY NEED GOVERNMENT INVOLVEMENT IN ALL THE THINGS THEY PAY FOR??? THE SOLUTION WAS SELF REALIANCE LONG AGO, WHY NOT NOW???

Can I deduct interest due to late real estate tax payment? For the 1040 I have always done standard deduction. Now I have a question. I do not use an escrow account and pay real estate taxes directly to the local town. I paid it late once in 2008 and had to pay interest to the town because it was late. Can I include this late payment interest along with my real estate deduction in my 2008 1040A? Please provide a link to an IRS source or judicial ruling in your answer.

What is End of Survivorship Life Insurance.Are all of the inheritants responsible for the estate taxes.? There was an End of Survivorship Policy (800,000) for my grandmothers estate to cover the taxes. The beneficiary who was the executor(my aunt) of the estate took the insurance money as her own and says my mother has to split the estate taxes of 750,000.The insurance rep says that it was to cover the taxes. The accountant says that it had to be left as both as beneficiaries and my mother is responsible for 1/2 the estate taxes.Can you tell me the specific IRS guidelines for this. Where might can we go to get this resolved. There was property in the estate but not much money. My mother can't afford to pay this money to her and the property taxes on all this property each year. Also which I think my aunt is trying to strong arm her out of as well. Thanks forany advice you may have. Colsond4

Estate taxes.......? My late husband passed away a year ago today, I just received a letter from "my attorney" (after not hearing from him in 9 months) saying that he received a letter from the dept of revenue that I did not file a "Inheritance Tax return on my husband's estate". Do I need to do this?(he also has 3 children-2 out of state) My husband had no will (no money left behind) and my(his- I was not on the deed or mortagage) home is only worth $30.000, my van(also in his name only) about $1500.00 and my only income is a widow's pension from va , so I don't file a tax return, I am young and never owned anything, and this sometimes seems like more hassle than its worth! Will I get in trouble if I don't file one of these? Did someone report this to the IRS for them to come forward about this petty stuff? I live in Pa, please help, will this stuff ever end?? Thank you!

how long may the irs keep a tax investigation open? the irs claimed my uncle's estate planner broke rules/tax law many years ago. he hired a lawyer over ten years ago to deal with irs. my uncle died. my aunt wants to know if and when they will leave her alone so that she can move oversees money back into the states and so that she can buy a house without fear of the irs taking it away. she hasn't heard from irs in many years

IRS Owed taxes that i can not in no way afford, what do i do? Hi, i worked for a small company for 2 years and apparently they never submitted no money to the IRS (illegal i know) now the company has disappeared looked high and low they are gone, some say out of state (was a real estate company) anyhow long story short, i got a letter from the irs, saying i owe somewhere around $15,000 in taxes, I DON'T HAVE $15,000 i barley make $35,000 a year - im scared i don't know what to do im afraid they will garnish my wages and i will end up homeless.. what do i do? will they accept some kind of payment plan i dont own any property, my car is in an upside down loan and frankly my net worth is in the negative.. can i declare bankruptcy? My friend said to move out of the country? to add information i did not get a W-2 from the second job in 2007 however i did report my income and tax paid (it was only 900 bucks) i was a contraced employee (all i did was research for them and telemarketing) also, i want to pay them i want to make it right but i also dont want to become homless, i can maybe afford 100 bucks a month but that means it will take years to pay it off i dont know if they will take that?

Calculating total percent gain on real estate investments? Does anyone have the formula to calculate the percentage return on a real estate rental property that takes into account: Monthly income, monthly expenses, property appreciation, mortgage interest rate and the IRS tax depreciation?

Politicians and taxes...what do YOU think? What do you think??? Star and pass this along to your voting friends.... be very funny The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. While this thought is still fresh in our brain, let's take a look at New Orleans It's amazing what you can learn with some simple division . . Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean? A. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528. B. Or, if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787. C. Or, if you are a family of four, your family gets $2,066,012. Washington, D.C .. HELLO!!! ... Are all your calculators broken?? Tax his land, Tax his wage, Tax his bed in which he lays. Tax his tractor, Tax his mule, Teach him taxes are the rule. Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirts, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he tries to think. Tax his booze, Tax his beers, If he cries, Tax his tears. Tax his bills, Tax his gas, Tax his notes, Tax his cash. Tax him good and let him know That after taxes, he has no dough. If he hollers, Tax him more, Tax him until he's good and sore. Tax his coffin, Tax his grave, Tax the sod in which he lays. Put these words upon his tomb, 'Taxes drove me to my doom!' And when he's gone, We won't relax, We'll still be after the inheritance TAX!! Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Perm it Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax (SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fe e Tax, Telephone Federal, State and Local Surcharge Tax, Telephone Minimum Usage Surcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, Workers Compensation Tax. STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened? Can you spell 'politicians!' IT'S NOT MEANT TO BE FUNNY...IT'S SO VERY SAD THIS STATE OF AFFAIRS WE ARE IN.

Have you paid your taxes? Subject: TAX TAX TAX!! Here’s the truth!! At first I thought this was funny...then I realized the awful truth of it. Be sure to read all the way to the end! Tax his land, Tax his bed, Tax the table At which he's fed. Tax his tractor, Tax his mule, Teach him taxes Are the rule. Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he Tries to think. Tax his cigars, Tax his beers, If he cries, then Tax his tears. Tax his car, Tax his gas, Find other ways To tax his ass Tax all he has Then let him know That you won't be done Till he has no dough. When he screams and hollers, Then tax him some more, Tax him till He's good and sore.! Then tax his coffin , Tax his grave, Tax the sod in Which he's laid. Put these words upon his tomb, " Taxes drove me to my doom..." When he's gone, Do not relax, Its time to apply The inheritance tax. Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Excise Taxes Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax (42 cents per gallon) Gross Receipts Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Personal Property Tax Property Tax Real Estate Tax Service Charge Tax Social Security Tax Road Usage Tax Sales Tax Recreatio nal Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Taxes Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Taxes Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What the hell happened? Can you spell "politicians!" And.... I still have to "press 1" for English. I hope this goes around THE USA at least 100 times.

Do the liberals that defend increasing taxes and socialism know EXACTLY what taxes we pay now when they say? "someone has to pay for this and that"? Heres a "short" list.... Accounts recievable tax Automobile registration tax Building permit tax Capital gains tax CDL license tax Cigarette tax Corporate income tax Court fines (indirect tax) Dog license tax Estate tax Federal income tax Federal unemployment tax (FUTA) Food license tax Fuel permit tax Gasoline tax (42 cents per gallon) Inheritance tax Interest expense (tax on the money) Inventory tax IRS interest charges (tax on top of tax) IRS penalities (tax on top of tax) Liquor tax Local income tax Luxury taxes Marriage license tax Medicare tax Parking meters Property tax Real estate tax Septic permit tax Service charge taxes Social security tax Road usage taxes (truckers) Sales tax Recreational vehicle tax Road toll booth tax School tax State income tax State unemployment tax (SUTA) Telephone federal excise tax Telephone federal, state and local surcharge tax Telephone minimum usage surcharge tax Telephone recurring and non-recurring charges tax Telephone state and local tax Telephone charge tax Toll bridges taxes Toll tunnel taxes Traffic fines Trailer registration tax Utility tax Vehicle license registration tax Vehicle sales tax Watercraft registration tax Well permit tax Workers compensation tax and do they think about all these when they bash republicans for wanting lower taxes? and yes, this is a small partial list Federal or state, they're Government taxes and in alot of cases, waste And no Comrade, you have NO Clue but thanks for trying! ROFL

Which of these taxes did we have 100 years ago? Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax (Fed) Federal Unemployment Tax (FU TA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax) IRS Penalties (tax on top of tax) Liquor Tax Luxury Tax Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge taxes Social Security Tax Road Usage Tax (Truckers) Sales Taxes Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Tax Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage ChargeTax Utility Tax Vehicle License Registration T ax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax And why did we leave British rule? Burnt Bagel- I'll give you that, but people used to also bleed fevers. The science and technology has changed since then.However 100 yrs ago we also were the wealthiest nation with the largest Middle class.

What do you think when the government says they Need to Raise Your Taxes? Something to Consider........... Tax his land, Tax his bed, Tax the table At which he's fed. Tax his tractor, Tax his mule, Teach him taxes Are the rule. Tax his work, Tax his pay, He works for peanuts Anyway! Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he Tries to think. Tax his cigars, Tax his beers, If he cries Tax his tears. Tax his car, Tax his gas, Find other ways To tax his a_ _ Tax all he has Then let him know That you won't be done Till h e has no dough. When he screams and hollers, Then tax him some more, Tax him till He's good and sore. Then tax his coffin, Tax his grave, Tax the sod in Which he's laid. Put these words Upon his tomb, 'Taxes drove me to my doom...' When he's gone, Do not relax, Its time to apply The inheritance tax. Accounts Receivable Tax Building Permit Tax CDL license Tax Cigarette Tax Corporate Income Tax Dog License Tax Excise Taxes Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax (44.75 cents per gallon) Gross Receipts Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges IRS Penalties (tax on top of tax) Liquor Tax Luxury Taxes Marriage License Tax Medicare Tax Personal Property Tax Property Tax Real Estate Tax Service Charge Tax Social Security Tax Road Usage Tax Sales Tax Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Taxes Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Taxes Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middleclass in the world, and Mom stayed home to raise the kids. What in the h_ _ _ happened? Can you spell 'politicians?' So I see that most of you "get it". Then I see some who sound offended? Wow! You know there is a little box you can check on your tax forms where you can "voluntarily" send the politicians more of your money if you disagree with the spirit of this post!?!? (btw..this is not an original thought here, this was sent by a couple of my good contacts....Thanks guys) Charles: good point..47 years of Freedom or 99 years of indentured servitude? B.O.H.I.C.A Military acronym, Bend Over Here It Comes Again. itzazoo: Fair Tax! I agree. Smoochie: thanks for the smooch! !'ll take it!

Do I need a tax id number from the IRS for both of my deceased parents to set up the estate account? They passed away within 90 days of each other. First Dad than Mom. Do I set up the account in his name, her name or both their names? I've got a tax id number for her so far. Oh, and my lawyer sucks. He said to keep using the account like I have been. (I was writeing checks for them, since neither one of them could write anymore). Tell that to the bank. I've been trying to get everything paid out of my own $, but I just paid their taxes & it wiped me out. I sure do hate this.

Will the IRS allow me to use part of my lifetime estate exemption to "gift" $200,000 tax-free this year?

Is it normal to be asked to do taxes if you had no income&got real estate liscence but did no transactions? They're saying (The IRS), that based on the average salary that professionals of that type (Real estate professionals) make per year that the assessment they are interested in receiving is around $3,000, but no transactions were done whatsoever, the real estate license was obtained but no business was done. They sent a proposed assessment, which they said was not a bill and that I could give an explanation if I did not have a filing requirement etc....and once I filled it out completed with the explanation, attached to their forms on a separate sheet, they responded by sending a bill? How can I prove that I did no transactions, what documents do I need to show this? On the correspondence received a few days ago, they didn't even provide enough time for me to do a tax return to show that I did not have an income as a real estate professional? What is with this? Also when I got the license I asked if I had a filing requirement at H&R block and they refused to prepare them due to me having no income whatsoever.

Is it normal to be asked to do taxes if you had no income&got real estate liscence but did no transactions? They're saying (The IRS), that based on the average salary that professionals of that type (Real estate professionals) make per year that the assessment they are interested in receiving is around $3,000, but no transactions were done whatsoever, the real estate license was obtained but no business was done. They sent a proposed assessment, which they said was not a bill and that I could give an explanation if I did not have a filing requirement etc....and once I filled it out completed with the explanation, attached to their forms on a separate sheet, they responded by sending a bill? How can I prove that I did no transactions, what documents do I need to show this? On the correspondence received a few days ago, they didn't even provide enough time for me to do a tax return to show that I did not have an income as a real estate professional? What is with this?

Calculating total percent gain on real estate investments? Does anyone have the formula to calculate the percentage return on a real estate rental property that takes into account: Monthly income, monthly expenses, property appreciation, mortgage interest rate and the IRS tax depreciation?

Calculating total percent gain on real estate investments? Does anyone have the formula to calculate the percentage return on a real estate rental property that takes into account: Monthly income, monthly expenses, property appreciation, mortgage interest rate and the IRS tax depreciation?

Calculating total percent gain on real estate investments? Does anyone have the formula to calculate the percentage return on a real estate rental property that takes into account: Monthly income, monthly expenses, property appreciation, mortgage interest rate and the IRS tax depreciation?

Real Estate Tax Question, Plz Help!? I am 20 years old, I bought a duplex 3 months ago w/ tenants living there (suppose to be my primary residence that's what it says in the papers) but I rent out both units because it's WAY cheaper for me and I need the experience. Property taxes are all paid through the mortgage which is included in my monthly payment. I work a job *under the table* since I am full time college student I cannot have a job or I will not qualify for financial aid. So I get paid cash every 2 weeks, I pay my bills, and take care of the property. What kind of trouble can I get into with the IRS? I mean I got a property and supposably I paying all this stuff but w/ no job? Can they actually bust me? Or am I too small of a timer for them? They go after the big folks? I'm just curious, because I won't file any tax return cause theres nothing to file? Just wondering what I'm getting myself into, I have to be paid under the table or else college won't work out for me so that's not an option. Deeply Appreciate!

With the average persons income tax being around 35% or having to work four months for free? where does all this money go?.......here is a list of other taxes you pay not including income tax......... Alternative Minimum Tax (AMT) Capital gains tax Corporate income tax Estate tax in the United States Excise tax (includes taxes on cigarettes and alcoholic beverages) Federal income tax Federal unemployment tax (FUTA) FICA tax (includes Social Security tax and related programs) Gasoline tax Generation Skipping Tax Gift tax IRS penalties Local income tax Luxury taxes Property tax Real estate tax Recreational vehicle tax Road usage taxes (Truckers) Sales tax and equivalent use tax School tax State income tax State unemployment tax (SUTA) Telephone federal excise tax Vehicle sales tax Workers compensation tax

for estate tax purposes how do figure value of real estate with mortgages on the properties? also will a standard appraisal be acceptable to irs

What is a billion? What is a BILLION??? The next time you hear a politician use the word "billion" in a casual manner, think about whether you want the "politicians" spending your tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. a. A billion seconds ago it was 1959. b. A billion minutes ago Jesus was alive. c. A billion hours ago our ancestors were living in the Stone Age. d. A billion days ago no-one walked on the earth on two feet. e. A billion dollars ago was only 8 hours and 20 minutes , at the rate our government is spending it. While this thought is still fresh in our brain, let's take a look at New Orleans. It's amazing what you can learn with some simple division . Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean? a. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528. b. Or, if you have one of the 188,251 homes in New Orleans, your home gets $1 ,329,787. c. Or, if you are a family of four, your family gets $2,066,012. Washington, D.C. HELLO!!! ... Are all your calculators broken?? This is too true to be very funny Tax his land, Tax his wage, Tax his bed in which he lays. Tax his tractor, Tax his mule, Teach him taxes is the rule. Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirts, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he tries to think. Tax his booze, Tax his beers, If he cries, Tax his tears. Tax his bills, Tax his gas, Tax his notes, Tax his cash. Tax him good and let him know That after taxes, he has no dough. If he hollers, Tax him more, Tax him until he's good and sore. Tax his coffin, Tax his grave, Tax the sod in which he lays. Put these words upon his tomb, "Taxes drove me to my doom!" And when he's gone, We won't relax, We'll still be after the inheritance TAX!! Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax (SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fee Tax, Telephone Federal, State and Local Surcharge Tax, Telephone Minimum Usage Surcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, Workers Compensation Tax. COMMENTS: Not one of these taxes existed 100 years ago and there was prosperity, absolutely no national debt, the largest middle class in the world and Mom stayed home to raise the kids. What the hell happened????? Got this in an email, and thought I would share it. Responses? (and remember, BOTH current ruling parties have been in control during the past 100 years)...time for a change? What, and how? Making laws that protect workers has nothing to do with taxation. THAT is not where we went wrong, and the other examples show at best, no societal growth, when you take into account that environemental factors causing cancer in the workplace have replaced the lack of safety mechanisms. We just replaced one hazzard with another. Could this be because of the ineffectiveness of gov't? And their intrusion into tings that theyare nt qualified to deal with, and are poltically motivated to answer? Feo, they would suffer the same fate as the oil companies who are attached to the gov't teat... I also don't need to look to history to find homeless children in america. We have the infant mortality rate of a third world country. I don;t see how it gets worse than that. Also, seniors having to choose between medicine and food, and also being homeless.

Do you support the FairTax? The FairTax is a 23% national sales tax that eliminates the IRS, income tax, corporation tax, real estate tax, car tax, gas tax, capital gains tax, and every other federal tax. It is supposed to increase our economy by astronomical ammounts and bring companies back to America. If you support it, sign this petition below please. http://www.fairtax.org/site/PageServer?pagename=action_petition Plus, the wealthy still pay "their fair share" because you pay a lot more tax money on a billion dollar yacht than on normal things. Plus, to help the poor out, the government sends out a check of about 2 grand to every citizen, so it actually is fair.

Is this true or false;If you are reading this you are not and will not be effected by the Federal Estate tax? http://www.irs.gov/businesses/small/article/0,,id=98968,00.html

Which Presidential Canditate is more concerned with this? My head is a spinning. This is too true to be very funny The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. While this thought is still fresh in our brain, let's take a look at New Orleans It's amazing what you can learn with some simple division Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans . Interesting number, what does it mean? A. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528. B. Or, if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787. C. Or, if you are a family of four, your family gets $2,066,012. Washington, D.C . HELLO!!! ... Are all your calculators broken?? Tax his land, Tax his wage, Tax his bed in which he lays. Tax his tractor, Tax his mule, Teach him taxes is the rule. Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirts, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he tries to think. Tax his booze, Tax his beers, If he cries, Tax his tears. Tax his bills, Tax his gas, Tax his notes, Tax his cash. Tax him good and let him know That after taxes, he has no dough. If he hollers, Tax him more, Tax hi m until he's good and sore. Tax his coffin, Tax his grave, Tax the sod in which he lays. Put these words upon his tomb, 'Taxes drove me to my doom!' And when he's gone, We won't relax, We'll still be after the inheritance TAX!! Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Perm it Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax (SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fe e Tax, Telephone Federal, State and Local Su rcharge Tax, Telephone Minimum Usage Su rcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, Workers Compensation Tax. STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened? Can you spell 'politicians!' And I still have to 'press 1' for English. I hope this goes around THE USA at least 100 times What the heck happened????? -------------------------------------------------------------------------------- No virus found in this incoming message. Checked by AVG Free Edition. Version: 7.5.503 / Virus Database: 269.16.17/1176 - Release Date: 12/6/2007

How much is a BILLION? The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. While this thought is still fresh in our brain, let's take a look at New Orleans It's amazing what you can learn with some simple division . . Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans . Interesting number, what does it mean? A. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528. B. Or, if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787. C. Or, if you are a family of four, your family gets $2,066,012. Washington, D.C .. HELLO!!! ... Are all your calculators broken?? Tax his land, Tax his wage, Tax his bed in which he lays. Tax his tractor, Tax his mule, Teach him taxes is the rule. Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirts, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he tries to think. Tax his booze, Tax his beers, If he cries, Tax his tears. Tax his bills, Tax his gas, Tax his notes, Tax his cash. Tax him good and let him know That after taxes, he has no dough. If he hollers, Tax him more, Tax hi m until he's good and sore. Tax his coffin, Tax his grave, Tax the sod in which he lays. Put these words upon his tomb, 'Taxes drove me to my doom!' And when he's gone, We won't relax, We'll still be after the inheritance TAX!! Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Perm it Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax (SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fe e Tax, Telephone Federal, State and Local Su rcharge Tax, Telephone Minimum Usage Su rcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, Workers Compensation Tax. STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened? Can you spell 'politicians!' And I still have to 'press 1' for English. What the heck happened?????

real estate tax for my county, 1099c tax etc? im filing chap 7 for a home which should end up foreclosing and... i got the county real estate bill due in jan. 7th. my bankruptcy lawyer told me on a phone that the bank or whoever buying through foreclosure will end up paying the tax, so don't worry about it. is this true...? someone told me that i should have lawyer 'amend' the bk ppwk stating the buyer has to pay tax owed in a property. i left a vm earlier for lawyer to call back in that regard but not sure if he will do that for me... what should i do... hey, if homes foreclosed and chap 7 (hopefully not convert to chapt 13 as decision pending), will i owe irs 1099c?

IRS Deductions Independent Contractor Real Estate Agent? I am a Real Estate Agent and 2007 was my first year working in this field. I file my taxes jointly with my husband who gets a regular w-2. I made $300 this year, which is not enough to get a 1099 misc, but I am going to file this money anyway so I can claim my deductions. I have mileage expenses, office supplies, advertising, etc. that would show a loss of several thousand dollars for the year. Is it okay to file this way, or am I going to raise a red flag since I didn't have much income but did have a lot of expenses?

Gifting real estate to grandchildren - do i need to add their names to the deed? I live in California and have a property with equity. I want to gift the equity in $12,000 increments annually to my grandchildren to take advantage of the TaxPayer Relief Act tax free benefit. My grandchildren are not on the deed of the property but their parents (my daughter and her husband) are. Q1: Can I gift property equity using the $12,000 limit the TaxPayer Relief Act offers? Q2: Do I need to add my grandchildren's names to the deed of the property I want to gift? Q3: Does each $12,000 gift count against my lifetime Estate Tax Exclusion limit? Q4: Do I need to file Gift Tax Form 709 even though the gifts are within the $12,000 limit which is tax free? Q5: IRS literature says the Estate Tax Exclusion will be repealed in 2010 so will I have to pay taxes on the amount I gift in 2010? Thank you!

where can I find a tax lien from the IRS against either a person or a business for free.? I am looking to search either a business or person to find if a tax lien from the IRS is filed against them. IE a tax levy not a real estate levy

Calculating Self Employment Taxes, am I doing this right? Hello all, desperately need some help in making sure I don't make a huge tax error. I currently have a route that I do for the local paper where I collect old papers and coins from the racks. They pay $57 a week. Here are the current figures I've come up with: 52 weeks a year x $57 =$2964.00 $2964 x .9235=$2737.26 $2737.26 x.153=418.80 in yearly taxes Does this calculation sound correct for me? Is it safe to say that my weekly taxes are $8.06? I'm signed up with the IRS online tax payment system and I'd like to pay my estimated taxes at least bi-weekly. The company has factored in the mileage of the route into my weekly pay, I am wondering that since they did this, can I no longer deduct gas expenses? I live in California, and file the rest of my income taxes as single, itemized deductions (have a mortgage and real estate taxes.) I really appreciate any intelligent answers from anyone who knows a thing or two about taxes, I'm having a hard time!

Tax question- I am the executor of an estate? I have put the estate in a trust within leagle guidlines and dispurse the interest to myself and brother, we are the only beneficaries and I use a CPA each year to keep it all straight. I send my brother a K-1 form each year so he can claim the interest on his taxes. I just found out that he has not filed taxes in years! My question is--If my brother gets in trouble wit the IRS can the IRS come back on the trust I set up?

Can I amend an Estate SS-4 from Calendar to Fiscal Year? How? I am executor of my Dad's estate. When first applying for the EIN, I made the estate a calendar year entity without realizing the tax consequences. I would have several more months before having to deal with tax issues if I could amend the SS-4 from calendar year to fiscal year reporting. Can a qualified YA member tell me how? I have searched the engines and the IRS.gov site. No offense, but only those with qualifications to answer please. Thanks all.

How does one avoid taxes on large amounts of money? all 100% of it. On earned income, not gift or inheritance ...Via Mutual funds? ...Bonds? ...Real Estate? ...Foreign Bank accounts? ...Expatriate to another nation IRS does not need my money any more, I no longer want to be on their mailing list or want to pay taxes anymore.

How do I estimate my capital gains taxes? Let's say I have 80K in adjustable gross income, and a capital gain of 200K from sale of a non-primary residence real-estate that we have owned for more than one year. The filing status is "married filing jointly." Here is a link to the 2006 tax schedules: http://www.irs.gov/formspubs/article/0,,id=150856,00.html Will I pay "$8,440.00 plus 25% of the amount over 61,300" for the 80K plus 15% of the 200K capital gain? Or will I pay "$42,170.00 plus 33% of the amount over 188,450" for the entire $280K? So is the 15% capital gains tax an extra tax on the 200K? I think I'm getting confused because I thought short term capital gains were taxed at a regular tax rate, but long term capital gains got the 5% or 15% tax rate. So how is the 15% applied in combination with the rest of my adustable gross income? Thank you for any information that you can provide.

For all of you who want someone else to pay higher taxes did you ever think of this? Accounts Receivable Tax Building Permit Tax CDL License Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Perm it Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax) IRS Penalties (tax on top of tax) Liquor Tax Luxury Tax Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge Taxes Social Security Tax Road Usage Tax (Truckers) Sales Taxes Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Tax Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Tax Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax Not one of these taxes existed 100 years ago, And our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened? Can you spell 'politicians!' And I still have to 'press 1 ; ;for English.

For all of you who want someone else to pay higher taxes did you ever think of this? Accounts Receivable Tax Building Permit Tax CDL License Tax Corporate Income Tax Dog License Tax Federal Income Tax Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Perm it Tax Gasoline Tax Hunting License Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax) IRS Penalties (tax on top of tax) Liquor Tax Luxury Tax Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge Taxes Social Security Tax Road Usage Tax (Truckers) Sales Taxes Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Tax Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Tax Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax Not one of these taxes existed 100 years ago, And our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened? Can you spell 'politicians!' And I still have to 'press 1 ; ;for English.

Estate acct currently in savings at 1%! Can i set up an estate acct with i.e. Ameritrade to invest? We have an IRS tax ID and all the paperwork, death certificates, letters testementary etc. Is is possible to set up an estate account with any of the broker firms for investment purposes? Thank you very much!