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This is not a simple question. We would need to konw the details of ownership and loss. We have a tax attorney who is also a CPA. He would have to review the documentation. Ed Dimon, Esq. 732-797-1600 ...Read more

The key is the reason you are receiving the money. If you were injured, there are no taxes. If you are recovering lost wages, there would be taxation. Ed Dimon, Esq

Whether assets received as part of a settlement are taxable or not depends on what they are replacing. For example, if you have a suit that is based on personal injury (physical injury) and on lost wa ...Read more

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Fast Track Settlement Program for Small Businesses & Self-Employed Taxpayer

The Internal Revenue Service (IRS) announced its formal establishment of the Small Business/Self-Employed Fast Track Settlement Program (SB/SE FTS) to provide an expedited format for resolving dispute ... Read more

Do You Have an Outstanding IRS Tax Liability? Is an OIC Right for You?

Contributing Author: Kristine M. Custodio, Advanced Certified Paralegal The first question you are likely asking is what is an Offer in Compromise or OIC? Basically, an OIC is a settlement offer to th ... Read more

Historic Preservation in Kentucky

May 1st marks the beginning of Historic Preservation Month. Kentucky has the fourth highest number of listings on the National Register of Historic Places. In fact there are more than 3,200 historical ... Read more

Why You Should Consider Tax Diversification in Your Retirement

Many people who set aside money for their retirement are focused on the dollar value of their investments. Contributions may be based on calculating what they need to set aside to live comfortably in ... Read more

PIN Rejections While E-Filing

After spending hours of time plugging in numbers on a tax website or using tax-prep software, you are finally ready to submit your return. Before you can submit your return, you are prompted to enter ... Read more

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