I have a question that I desperately need answered. I closed on a house in September (nearly October) 2007. In our purchase agreement the seller was to pay taxes on the property for up to the day prior to closing. There was a huge tax debate that caused the tax assessment in the state to be...
I recently received a sizeable settlement paid in compensatory damages (emotional distress) due to an employment issue. The payment was lump sump and nearly doubles my "income" for the year. The laws have flipflopped so often, I'm confused. Will I have to pay taxes on this amount- and at the...