Reply To: parent with taxable Betterment – need tax returns?

Home Fairmark Forum Retirement Savings and Benefits parent with taxable Betterment – need tax returns? Reply To: parent with taxable Betterment – need tax returns?

#4925
Alan S.
Participant

Perhaps an accountant who specializes in “Offers in Compromise” to the IRS would also be able to assess the exposure to those who received gifts of the taxpayer’s assets when it is evident that the purpose of the gifts is to avoid back taxes and penalties. Most likely, if the tax bill is small enough, the IRS would not bother to pursue this, but if the tax bill is small, the taxpayer would be better off determining the amount of back taxes and penalties likely to be levied.