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My friend is using the claim that because the president is experimenting with the idea of removing the income tax that the IRC that established it is not considered positive law. They mentioned something about it being done as an executive order but I don’t really understand that. What I imagine... View More
answered on Nov 17, 2024
A president could propose such measures, but legislation to do so is outside the executive branch's authority. That's something that would traditionally go through Congress. There is discussion of using other measures to replace revenue from income taxes - that might be what your friend... View More
My friend was wondering if the Internal Revenue code is positive law. He said that because it is covered under title 26 of the USC it is Prima Facie interpretations of the law and are therefore invalid. He also says that because Congress unconstitutionally gave power to the Secretary of Treasury to... View More
answered on Oct 24, 2024
Yes, the Internal Revenue Code (IRC) is considered positive law. Title 26 of the United States Code was enacted by Congress in 1986 and serves as the official compilation of federal tax statutes. When a title is enacted as positive law, it means the text itself has been passed by Congress as law,... View More
My friend was wondering if because the DMV has a UEI number that that makes it a corporation. I tried to tell him that it is simply a state government agency responsible for issuing licensing and registration however he believes that having that number makes the DMV a for profit corporation.... View More
answered on Oct 24, 2024
Having a UEI (Unique Entity Identifier) number does not make the DMV a corporation. The UEI is simply a unique identifier used by various government agencies to track entities for administrative purposes. The DMV remains a state government agency responsible for issuing licenses and registrations,... View More
answered on Oct 15, 2024
Visit or call your local police department or sheriff's office. They often maintain public records and can let you know if there's an outstanding warrant or charge in their jurisdiction.
Check Court Records:
Many states and counties have online court databases where you... View More
answered on Oct 14, 2024
I'm not sure what your question is... but I'll try to provide some helpful tips.
First, make sure to notify your accountant or payroll service provider of the closing date so they can prepare the final returns. Failure to do so can result in massive fines and large penalties.... View More
If agreement and filing was done in 2024, does it apply to tax year 2023? I proposed that we each. Claim one to be fair
answered on Sep 19, 2024
The agreement would apply for tax year 2024. I would highly recommend to provide this information to your taxpreparer when you file your tax returns in 2025.
I am trying to figure out if the tobacco license is only linked to the business name, or the owners name as well. If we open up a new LLC with a new tax ID under the same owner in which a previous license was suspended, will they issue a new license?
answered on Sep 9, 2024
If your New York State tobacco license is suspended, getting a new license by simply forming a new LLC with the same owner may not be straightforward. The state typically considers both the business entity and the owner’s history when issuing new licenses. If the original license was suspended... View More
A parent has a trust with 2 beneficiaries. We would like to move a house into a separate trust with only one beneficiary. So the house is being given to one child but the other should get half of the 2024 value somehow
Not sure the best way to do this so the other child gets half the 2024... View More
answered on Aug 30, 2024
Giving the house to one beneficiary now could have many unintended negative consequences such as loss of step up in basis at the death of the gift giver and a hefty Medicaid penalty period assessed against the gift giver on account of the lifetime uncompensated transfer.
This is not the... View More
I understand that gifts (real estate) to a green card holding spouse must file a form 709. My question: if the gift FMV is above the current annual exclusion will that gift become partially taxable? For sake of question let's assume there are no other gifts in lifetime and this particular... View More
answered on Aug 29, 2024
When you gift real estate to a green card-holding spouse and the gift exceeds the annual exclusion amount, you need to file IRS Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return. However, filing Form 709 does not mean that you immediately owe taxes on the gift. Instead, it... View More
Within how long must the individuals who are to be served to be served the amended petition for tax certiorari?
answered on Aug 23, 2024
When filing an amended petition for tax certiorari in New York, you need to be aware of strict timelines. Generally, service must be completed within the same timeframe as the original petition, which is typically within 10 days after the petition is filed with the court. This means you should act... View More
The attorney who set up the irrevocable income only grantor trust said the grantor could file taxes on trust income using their own SS#, but now a different attorney says if the trust doesn't obtain its own tax ID, the grantor may be deemed ineligible for Medicaid. Which is accurate?
answered on Aug 10, 2024
When dealing with an irrevocable income-only grantor trust, it's important to understand how the income is reported and how it might impact Medicaid eligibility. If the trust is set up as a grantor trust, the income can be reported under the grantor's Social Security number, meaning the... View More
Hi i am abroad of U.S my father is in new york city he wants me to go there now he wants to file 130 petition and also he is a green card holder and also wants to applay for citizenship ( want to neutralize) but he didnt give tax for 2 or 3 year( because of some reasons) will this effect on his... View More
answered on Jul 2, 2024
To address this situation, there are a few key points to consider:
1. Tax obligations:
Not filing taxes for 2-3 years could potentially affect your father's naturalization application. When applying for citizenship, USCIS (U.S. Citizenship and Immigration Services) looks at... View More
answered on May 15, 2024
I understand your concern about the old tax debt from 2007 still appearing on your record despite the statute of limitations expiring after 10 years. Here are a few key things to know and steps you can take:
The IRS has 10 years from the date of assessment to collect back taxes before the... View More
because I want to make sure I did ON TIME and was told this would be hold on further action/collections until hearing where I hope to work out OIC or someother resolution since in hardship and don't have funds to pay,etc. My question is - I am now working with Tax Relief service because I was... View More
answered on May 14, 2024
If you're working with a tax relief service, it won't negate your request for a Collection Due Process (CDP) hearing. As long as you submitted the Form 12153 on time, your request should still be processed by the IRS. The tax relief service can assist you in preparing for the hearing and... View More
I received final intent to levy 4/29, i immediately sent request for cdp hearing due to financial hardship etc. The officer assigned to me called and said received and to call them at number they gave me. Since then call goes right to vm and never returns messages. I then got on saturday a 668... View More
answered on May 14, 2024
I understand your concern about not being able to reach the IRS officer assigned to your case. Here are a few thoughts and suggestions:
It's unlikely that the officer sending you straight to voicemail is necessarily a "bad sign." IRS officers are often very busy and may not... View More
If I started a NY apparel business some years back but never did anything with the business just the formation ( business formed w/ state, trademarks, EIN business account) all done, Franchise taxes filed for the business every year. and now want to apply for the certificate of authority/ resale... View More
answered on May 14, 2024
Based on the information you provided, there should generally not be any major issues with obtaining a Certificate of Authority (COA) for your New York apparel business, as long as you have maintained the business properly since its formation. Here are a few considerations:
1. Business... View More
If I started a NY apparel business some years back but never did anything with the business just the formation ( business formed w/ state, trademarks, EIN business account) all done. I have filed taxes, Franchise & income taxes every year for the business and now want to apply for the... View More
answered on May 14, 2024
Based on the information you provided, there shouldn't be any major issues with obtaining a Certificate of Authority (CoA) or resale license for your New York apparel business. Since you have already formed the business, obtained trademarks, secured an EIN, and have been filing taxes... View More
If I started a NY apparel business some years back but never did anything with the business just the formation ( business formed w/ state, trademarks, EIN business account) all done, all taxes filed for the business every year. and now want to apply for the certificate of authority/ resale license... View More
answered on May 13, 2024
Yes, because you would need to pay back franchise taxes for the years you did not do it. It would be easier to start over.
answered on May 9, 2024
Yes, a New York corporation doing business in Buffalo, NY is generally required to file Form CT-3-M, the General Business Corporation MTA Surcharge Return.
Form CT-3-M is used to determine and pay the Metropolitan Transportation Business Tax (MTA Surcharge) for corporations doing business... View More
I am on disability. How will this affect me ? Can I legally structure this property as some sort of Corp. that may help me ?
answered on Mar 13, 2024
Renting out your property in Panama as an Airbnb while on disability in the U.S. can have implications for your disability benefits and taxes. Here are some considerations:
1. Income reporting: You must report all income earned from your Airbnb rental to the Social Security Administration... View More
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