AboutJay Allen Finn, CPA Expertise IRS Audits. All Collection Tax problems; specifically but not limited to, delinquent returns, bank levies, liens, garnishments of wages, Also specializing in Offer in Compromise. Limited to 1040/ personal tax issues
Experience 27 years experience as a CPA in the IRS defense area following a position as an IRS Auditor in the oil and gas industries.
Organizations Texas Society of Certified Public Accountants (Peer Assistance Committee), Houston Chapter of the Texas Society.
Publications Submit your articles.com
Education/Credentials BBA - Bachelors of Business Admin., Magna cum laude, Series 6 and 68 - Registered representative, Series 65 - Financial planner. Certified Public Accountant
Question I am about to inherit money due to my mother's death. Do I have to pay State (PA) or Federal Income tax on the amount I receive (under $50,000).
Answer Both Pennsylvania inheritance taxes and Federal estate taxes are paid out of the assets of the estate by the administrator/executor of the estate before the assets are distributed to the beneficiary. Since the money you receive will have had taxes already paid on it you will not owe taxes on the amount you receive.
