irs and foreclosure

Our house was foreclosed on in Sept 06. I got a 1099-A from the mtg co. My mtg bal was 64300., Fair mkt value was 77000. I am confused as to what the amt if any I pay the IRS. I do not know what it sold for. We did not even know it was for a foreclosure auction. Found out the hard way.

Thanks

Income taxes

can you guys please give me the law that says i have to pay income tax. because all i can find is the 16th amendment and the it was put in to law in 1912 and the supreme court said that the amendment gave the goverment no new power to tax, and this country did not have income tax before 1912 and now we do!! so i was hoping you guys or ladies could give the exact law that states i have to pay tax on my income. thank you so very much for your time and services

back taxes

I was married for 12 years, my husband passed away this year. I received letters from the IRS stating

we owed $21000. for 2003 & 2004.

How can this be?

charitable contributions

I sent this question a few minutes ago and made a mistake in my email address. The question is whether I can give the money I would have given to a charity to a friend who itemizes his deductions. I don't itemize on my tax return. My friend would agree to donate the money I give him to the charity I specify, but I would get nothing of value from the agreement. It would just provide a tax savings to my friend. Is this legal?

tax deductions

my 56 year old brother, who I am responsible for, has a permanant head injury (since he was 21) and receives about $16,000 a year in ss and workmens comp benefits. He also owns a home which I live in with him since our mother passed away in 2006. I was wondering, as executor of the estate, am I eligible to claim the interest on the mortgage as a deduction in my income taxes and claim him as a dependent.

Charitable foundation

I want to start a foundation that can give small scholarships and educational grants to inner city kids. How do I make this tax deductible? I am in NJ. My family will be the donors.

Structuring a consulting firm

Hello,

I'm currently involved in consulting a construction firm in the UAE for a considerable amount of money. Need to find out how I should structure my compensation and if overseas banking/creation of a corporation of some sort (Cayman, BVI, etc.) would be beneficial in regards to taxation. Any suggestions would be much appreciated.

churches

can a church deny access to specific patrons and still qualify for tax exempt status?

2nd home sale

my wife and I own two homes. 2nd home in Florida. If she ownes

the primary home and I own the second could I sell the 2nd home,

could I sell the 2nd home and buy

another at equal cost and not pay

no taxes?

taxes..

i was a victim of fraud, and i had a house that went foreclosure and sold it sold, so I have no amount of loan left on the mortagage.With that, I had to consider the cancel debt as income on my tax return. Now that the individual has been charged with conspriacy, wire fraud, and mail fraud. Is there anyway I can recieve the money back that I paid the irs with?

Tax Garnishment

Can someone get a back tax owed amount reduced? Can they get the garnishment reduced? Especially if it is a hardship? Can they sue NADA and a tax accountant for not answering phone calls or losing paperwork? How can you sue someone who failed to help with the back taxes as promised? What will it cost?

inheritance and estate law for beneficiary of combat deceased veteran

My step children's father recently was killed in Iraq and he left his house to his oldest daughter, his car to his oldest son, and the rest of the estate (furniture and stuff) to be divided between the children. The house is in the state of NY and is valued at around 110 thousand with over 98000 of it still under mortgage. the car is still in NY and still being paid for. what kind of tax liabilities are the children looking at? are they going to be covered under mortgage insurance? i have been told that with his death, the car was to be paid off by insurance, is that true?

Sales tax

If I buy an item from NC and I live in Virginia. Can they charge me 5%sales tax and shipping charges???

initals following a name

i recently met a person claiming to be a IRS tax expert. Following his name were three seperate initials. Please tell me what they mean. JD, EA, ATA

Income Tax

My wife has received a small British old age pension for a number of years. I have just found out that we should have been listing it as income on our income taxes. I do my own taxes and have never done this. What course should I take now? Should I notify the IRS of the years that we did not do it or just start including it in our income for this year's taxes? Thanks for any help

Tax problem with ex husband on owed tax

My ex husband filed a joint return in 2005 ( we divorce in 2006)without me signing and he told me he was going to pay the taxes for that year because he owed me money for the previous years taxes which i had paid.I found out that he didn't paid them ad the IRS last year kept my return ( he always underpays so at the end of the tax year he owes the irs and doesn't get a refund).I try to file an innocent spouse but they said i had the intent to file a return because my income appeared on the joint return. I also saw that he had some dubious deductions for that year.Can refile a new return for that year but married filling separately? Any other suggestions so i can have him pay the taxes.I don't want the same thinh happening as last years

tax and records

How many years should we keep our records for. At what point is it alright to toss past bank statements, check stubs etc. Thank you

Unfiled Taxes

How many years can the irs go back on unfiled taxes

Home Seller Incentives

I am purchasing a home from Pulte Homes and they are offering $18,000 in incentives for the purchase at closing. How do I treat this amount for tax purposes? I know that car companies offer incentives to purchase cars, but have not heard implications to those incentives on an individuals taxes.

disolving a trust

My question is for capital gains when disolving a trust. I understand that when I convert the trust to a new tax-id, the cost basis of the stock is from the date of death. If I disolve the trust using the deseased ssn, is the cost basis as of when the stock was purchased? What is the recomendation?