According to the Internal Revenue Service’s IRS rule 1.104-1, you are not required to pay taxes on the settlement amount that you receive for a wrongful death claim. The IRS classifies the wrongful death as a non-taxable settlement because it is part of a claim resulting from personal injury or physical illness. Understanding the taxable...Read More
Setting up a repayment plan is crucial as soon as you realize you have unpaid taxes. Have you known that you owe the IRS? The most important thing for a taxpayer to do in order to reduce penalties and costs associated with an IRS notification is to act immediately. Contacting the IRS often needs to...Read More
Filing for bankruptcy is a significant financial decision that can provide relief to individuals overwhelmed by debt. However, it comes with restrictions and consequences that you must understand. After filing bankruptcy, there are several actions you are not allowed to take. For example, you cannot discharge specific debts such as recent taxes, child support, or...Read More
The labyrinthine tax laws are always intimidating for any individual or any business operator. Thousands of taxpayer jump into a quarrel with the Internal Revenue Service annually, and consequently, many end up in the tax court. Knowing the most commonly litigated tax issues will help you be better positioned to keep yourself and your business...Read More
BOOK A FREE CONSULTATION NOW! Can the IRS Audit Back to a Certain Date? In general, the IRS includes all tax returns filed in the last three years when conducting an audit. If the IRS finds a significant error during the audit, it can audit other prior years. The IRS rarely audits more than six-years...Read More
BOOK A FREE CONSULTATION! According to the Internal Revenue Service’s IRS rule 1.104-1, you are not required to pay taxes on a settlements for a wrongful-death claim. The IRS classifies the settlement for wrongful death as non-taxable since it is part of a claim resulting from personal injury or physical illness. Understanding the taxable status...Read More
Do you pay taxes on personal injury settlements? Settlements and awards for personal injury cases can take a long time, often leaving you in emotional and financial hardship. If you win a personal injury case and get compensation, you’ll probably want all the money you deserve after paying your attorney. But you might be wondering...Read More
Bankruptcy can be a challenging and stressful process, especially when you’re dealing with tax-related issues. If you’re considering filing for bankruptcy in California, you need the help of an experienced bankruptcy tax attorney. Tax issues can significantly complicate the bankruptcy process and create a range of legal and financial challenges. A knowledgeable attorney can provide...Read More
Are you feeling overwhelmed by tax season? You’re not alone! Filing taxes can be a daunting task, and it’s easy to make mistakes that could cost you time, money, and stress. But don’t worry – we’ve got you covered. In this blog post, we’ll go over some of the most common tax filing mistakes and...Read More
Are you feeling overwhelmed by the complexity of the tax code and uncertain about how to handle your tax obligations? At Tenina Law, we understand that navigating the world of taxes can be confusing and stressful. That’s why we offer a wide range of legal services to help individuals and businesses in the Los Angeles...Read More
