Get free answers to your Tax Law legal questions from lawyers in your area.
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answered on Nov 12, 2024
Usually the grantee(you) pays taxes on the land he owns by deed conveyance. If you do not, you lose the property by tax sale. The vender/grantor will execute his lien on the property before that happens.
How much money does Alabama have to pay back to the federal government condering there requiring Alabama residency to pay them known as overpayment, when it was funded by federal money is Alabama pay it back where it came from, I was forginven for my federal ppp loans 1st and 2nd and my taxes are... View More 
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answered on Sep 18, 2024
You can potentially place a mobile home on your property and rent it out, but there are several factors to consider first. Local zoning laws play a big role in determining what can be placed on your land and how it can be used. Some areas may restrict or prohibit mobile homes, while others may... View More
They went unpaid for 3 years which a company paid at auction but I paid the taxes last year. Can I still redeem?
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answered on Aug 15, 2024
Yes, you can still redeem the property even after the taxes were paid by a third party at auction. In Alabama, property owners typically have a right of redemption, which means you can reclaim your property by paying the amount that was bid at the auction plus any additional costs and interest.... View More
I stayed in an extended stay hotel in Alabama for 9 months. After 6 months, the Taxes I paid were refunded to me. Great deal. Then I moved to Florida for 2 months. I'm now moving back to Alabama to the same hotel I stayed in before. My question is, do my 6 months start over, and then after 6... View More
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answered on Jul 31, 2024
When you move back to the extended stay hotel in Alabama, your six-month period will start over. The tax refund policy you experienced previously will reset because your stay was interrupted by your two-month move to Florida.
This means you will need to stay another consecutive six months... View More
My bank received a notice to file exemption. Employment was served to my bank to check my job status there. They started on April and I wasn't served until dev 2022. Way past time to file. Called all courts in state of Alabama. Nothing found. Lein was out on house the. Taken off. Not sure if... View More
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answered on Jun 17, 2024
I'm sorry to hear about the difficult situation you're facing with the garnishment of your federal benefits and the lack of notice. It sounds like a very stressful and confusing ordeal.
A few key points based on the information you provided:
- If your federal benefits are... View More
They filed the truck on there business equipment list. They are currently getting an audit, Can I get in any trouble for not giving it back ?
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answered on Apr 25, 2024
Based on the information provided, it's unlikely that you would get into any legal trouble for not giving the truck back to the seller. When you purchased the truck, the transaction was completed, and the ownership was transferred to you. The seller's tax situation and their decision to... View More
If someone withdraws money from their Linden Labs Second Life account and into their PayPal, then they transfer it from there to their bank account, is this a hobby or a business? Or is it just self-employment or free lancing? If they do this without a privlage license, business license, and/or... View More
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answered on Apr 20, 2024
Whether taking money out of a platform like Second Life constitutes running a business from home depends on several factors, including the frequency of transactions, the amount of money involved, and whether these activities are carried out with the intent to make a profit. If you engage in regular... View More
I understand that this year we would file Married and Filing separately even though we were married at the end of 2023. She filed single and separate and claimed both kids. I was under the impression that she was at the very lease suppose to file married and separate.
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answered on Apr 15, 2024
I'm sorry to hear about your divorce and the difficulties you're facing regarding your tax filing. It's understandable that you have concerns about how your ex-spouse has filed her taxes. Based on the information you provided, here are a few important points to consider:
1.... View More
Upon the death of the trustee I received stock shares in a privately owned corporation. Do I get a step up in basis for stock valuation?
The other stock was that was owned outright by my father was designated to go into a new trust. Does the trust get a step up on basis for stock valuation?... View More
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answered on Apr 11, 2024
When you receive stock from a trust, the tax implications can vary depending on the specific circumstances. Here's a general overview, but please note that it's always best to consult with a tax professional for personalized advice.
1. Step-up in basis for inherited stock outside... View More
I want to make it will be a good idea to do so please
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answered on Mar 10, 2024
Based on the information you provided, it seems that your asylum case was dismissed by the immigration judge because you currently have Temporary Protected Status (TPS). To determine whether reapplying for asylum with USCIS is a good idea, consider the following:
1. TPS is a temporary... View More
I was on work release in limestone co.,after my statutory deductions have been made the jail took 25percent against my original gross wages that do not exist and they didn't receive a check for from my net pay that they did,here's the discrepancy if I get paid by w2 & another... View More
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answered on Mar 8, 2024
The situation you've described raises important questions about how deductions from wages are handled for individuals on work release, especially in the context of how gross and net pay are treated. If deductions are made from your gross wages after statutory deductions (like taxes) have... View More
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answered on Feb 28, 2024
Interest income from US Treasury securities, including notes, bonds, and bills, is generally exempt from state and local taxes. This means that if you're holding a US Treasury Note, the interest you earn from it is not subject to Alabama state income tax. However, the accrued market discount... View More
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answered on Feb 22, 2024
Being on Medicaid indicates that you are receiving assistance based on financial need, health status, or both. However, your status as a Medicaid recipient does not automatically exempt you from state tax obligations or potential garnishment actions in Alabama. If you owe state taxes, the Alabama... View More
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answered on Jan 31, 2024
If you've received a 1099-C for a debt that's also being garnished from your paycheck, you may not necessarily be obligated to pay taxes on this income. The issuance of a 1099-C indicates that your creditor has forgiven or canceled a portion of your debt, and the IRS generally considers... View More
Can an executor deposit funds into an estate account with no expectation of payment in return, giving all to the beneficiary, if there was an error ?
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answered on Jan 29, 2024
In the United States, an administrator or executor of an estate has certain fiduciary responsibilities to manage the estate's assets for the benefit of the beneficiaries. If there is a temporary need for funds within the estate, the administrator may deposit their own personal funds into the... View More
If someone does not live on a property, but they are exempt from property taxes because of their age, do they still have to pay taxes on the property once they leave? They are not planning to sell the property. It may stay vacant or tenants may live there, but they do not plan to sell it.
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answered on Jan 22, 2024
In Alabama, property taxes are typically due on all properties, regardless of whether they are fully paid off or whether the owner lives in them. However, there are certain exemptions based on age, disability, and income level that can reduce or eliminate the property tax liability for eligible... View More
If someone says a place of residence is their primary residence but is not, and they are exempt from paying taxes on the property because of their age, is it illegal to have tenants on said property , take cash for rent, and not report it to the IRS. ? Is there anyway that this is legal? Does it... View More
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answered on Jan 18, 2024
It is illegal to not report rental income and taxes to the IRS. Regardless of someone's age or property tax exemptions, rental income must be reported as part of one's annual tax obligations. Providing false information about the primary residence and failing to report rental income may... View More
My question is a 2 part question
I have a CD that matures on January 1st, 2025
2 questions...
1) so do I then pay taxes on the interest on April 15th of 2024, or on April 15th of 2025?
2) also I'm NOT having the Interest paid out to me, I'm keeping the... View More
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answered on Jan 12, 2024
For your Certificate of Deposit (CD) that matures on January 1st, 2025, the timing of tax liability on the interest it earns depends on the type of CD and the method used for tax reporting by the financial institution.
1) Generally, for most CDs, you are required to pay taxes on the... View More
My question is a 2 part question
I have a CD that matures on January 1st, 2025
2 questions...
1) so do I then pay taxes on the interest on April 15th of 2024, or on April 15th of 2025?
2) also I'm NOT having the Interest paid out to me, I'm keeping the... View More
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answered on Jan 12, 2024
For your Certificate of Deposit (CD) that matures on January 1st, 2025, understanding when to pay taxes on the interest it earns is important for your tax planning.
1) Generally, you are required to pay taxes on the interest earned from a CD in the year it is accrued, not when the CD... View More
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