Get free answers to your Tax Law legal questions from lawyers in your area.
Is it true when one spouse passes away the assets/ property/land held in a marital trust are inherited by the surviving spouse and the property at this point receives a step up basis?
If I was gifted this property and I sale it, would this be the basis for calculating the capital gains?
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answered on Oct 31, 2024
When you receive property as a gift from your grandparents, the basis for calculating capital gains is typically the same as what your grandparents had in the property. This is known as a carryover basis. If the property's fair market value at the time of the gift is less than the original... View More 
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answered on Sep 30, 2024
If property taxes haven’t been paid in four years, the local government may begin the process of selling the property to recover the unpaid taxes. The timeline and rules vary depending on where you live, but most jurisdictions have a process in place for tax delinquency, which could eventually... View More
I was told by the OK Tax Commission that I had to have an ag permit in order to operate a farm and claim it on my taxes. I have filed on my farm in the past without any issues. 2023 I was pulled and reviewed by the OK Tax and was told I had to take my farm off my 2023 tax return because I did... View More
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answered on Jul 30, 2024
No, you do not need an agricultural permit to claim your farm on your taxes. The Oklahoma Tax Commission’s requirement for an agricultural permit primarily applies to those seeking sales tax exemptions, not for reporting farm income on your tax return. You can still report your farming activities... View More
I paid online and was later told that online payments couldn't be applied to save the home if I chose the wrong year. They say they sent a certified letter warning me but I never got anything at all. I was told my payment would automatically be applied to save my home but wasn't told... View More
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answered on Jul 18, 2024
I’m so sorry to hear about your situation. The first step you should take is to gather all your payment records, including any receipts or confirmation emails from your online tax payment. This documentation will be crucial in proving that you made an effort to pay your taxes.
Next,... View More
Is there a statute of limitations
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answered on May 31, 2024
When it comes to tax issues, the IRS typically has a statute of limitations of three years from the date you filed your return to audit you or assess additional taxes. However, if you omitted more than 25% of your gross income, this period extends to six years. For fraudulent returns or if no... View More
Even if also a mortgage maturity date ?
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answered on Apr 20, 2024
If you're interested in claiming an abandoned property by paying off back taxes, it's crucial to understand the legal and financial implications first. Paying the overdue taxes might not automatically entitle you to ownership if there are other legal claims, such as mortgages or liens,... View More
I had no knowledge of his crimes until I had to go through mountains of paperwork and request copies of prior years tax returns. I have PTSD because of all of the physical, mental, emotional and financial abuse from this person! He has threatened to kill me and my children many times but I cannot... View More
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answered on Jan 12, 2024
First and foremost, your safety and the safety of your children is paramount. If you are facing threats of violence, it's crucial to contact law enforcement immediately and consider obtaining a restraining order. For situations involving domestic violence, there are organizations and shelters... View More
Preparer has yet to provide me copies of the returns, schedules and worksheets. What options do I have? Thank you.
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answered on Oct 24, 2023
If you've paid a tax preparer but haven't received copies of your tax returns and related documents, start by requesting these documents from the preparer. If they don't comply, contact the IRS and state tax authority to obtain copies of your filed returns. Report the issue to... View More
papers state I did not pay the debt (an amended return was declined because of it was filed to late because he would not sign the amendment) however it has all been paid as far as I know, I have all my tax returns but I'm not sure how to proceed, do I need to get a lawyer? can I just submit... View More
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answered on Oct 18, 2023
It is a good idea to immediately file your tax returns. If needed, you can obtain your income transcripts directly from the IRS so that you have a record of your income that was reported to the IRS from which you may start return preparation.
Moving in it I was not aware of it getting sold for back taxes haw can I get what is left after it sold it sold for only 13800 it was worth a lot more there's 80 000 left after sale haw do I redeem that
answered on Oct 13, 2023
If the home was sold for back taxes you, as an heir, may be able to claim your share of the excess funds. This may require identifying the other heirs, if any. Due to the amount there may be the need for a probate case to clear things up.
This post is not legal, tax or investment advice.... View More
On July 17, 2023, Broken Arrow City Council adopted Ordinance No. 3794 which removed the opt-out provision for participation in the LifeRide emergency medical services program and made the fee mandatory for all utility customers of the City of Broken Arrow. During fiscal year 2017, when... View More
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answered on Sep 14, 2023
In many jurisdictions, cities have the authority to charge fees for specific services, including emergency medical services like ambulance rides. The decision to make the fee mandatory for utility customers is typically within the purview of the city council or local government, subject to... View More
I didn’t realize the IRS could put a hold on your passport. He’s never been out of the country before and this would be his first time filing for a passport. He’s just careless and hasn’t filed. I’m really sad and want my dad to walk me down the aisle.. is that even going to be possible... View More
answered on Feb 7, 2023
The IRS uses many tactics to get people to comply with the tax laws, this is one of them. If you wedding is not until November that should give him enough time to get this moving forward and hopefully enable him to obtain a passport. Your father needs to contact a tax attorney and at least have... View More
answered on Nov 1, 2022
The technical answer is if it is In a place of business or intended to be for profit (even if it is not profitable) then yes a decal is required from the tax commission.
answered on Nov 1, 2022
Hi! You might be able to get a clear answer if you reword your question. The way it is laid out is a little confusing to understand.
I know a loan on my house was done when I was in prison. and this same person remarried myself and Logue. I thought I was divorced in 2012. But I have been supporting him and his other females unknown to me. My trust I had got wiped clean and now I'm over 20,000 in debt
answered on Oct 26, 2022
if you are asking specifically regarding the IRS or State you can call, confirm your identity, and see who has an active Power of Attorney on your account. The representatives you speak to should be able to give guidance on how to revoke that power as well.
In a divorce we as ordered 7yrs ago for my house to be sold and property be sold , divi50/50 . Now court is trying to make my home go to sherrifs sale. Nothing is owed on my home
answered on Sep 10, 2022
Could be for property taxes. Those are yearly regardless of a mortgage or not.
Oklahoma 2021 tax return Form 511 instructions states:
"An Oklahoma resident individual is taxed on all income reported on the federal return, except...the gains/losses from the sales or exchange of real property in another state."
What is the specific Oklahoma Statute that addresses this?
answered on Jun 5, 2022
When dealing with taxes I encourage you to contact a tax law attorney- however if you still desire the information you may start looking at 68 O.S. § 2358 (OSCN 2022)
She has not lived with him for over 3 years, she lives in OK now and I believe he lives in MS. Is she considered legally separated and can she file as single?
answered on Apr 12, 2022
If she has not been granted a divorce then she is technically still married therefore she cannot file as single. However she can file married filing separately. You need to contact a family law attorney to help get the divorce finalized.
answered on Apr 12, 2022
You need to sit down with a tax attorney and go through this as it is a detailed matter that is beyond the scope of this forum. However, if you are an oklahoma resident this will still be considered income for tax purposes.
I opened a Solo 401k under a llc I setup and have had little income . I transferred my IRA and Roth IRA finds to my new 401k. Three months later I had to file chapter 7. The trustee has said that my business is not legitimate, he gives no support of this, but I am scheduled for a 2004 deposition,... View More
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