Frank Huerta Jr's answer You should really determine if you owe the money. You want to find out what tax years the lien covers. Call the IRS or State to ask for a record of your account. If you have already paid it off then fill out a lien discharge request. If you are disputing the underlying debt you can either file an audit reconsideration or in some cases file an offer in compromise doubt as to liability. If you do owe the money, then contact the IRS lien unit about paying off the balance and ask for the lien...
Ali Shahrestani, Esq.'s answer You may want to report him to the IRS and FTB for tax fraud. If he owes you money, you may want to sue him for that in court. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AliEsq.com. I practice law in CA, NY, MA, WA, and DC in the following...
Ben F Meek III's answer Ask him the purpose for his needing to know. Most likely it is so the Trust can report the distribution of funds to you on IRS Form 1099. That would be a legit reason for needing to know.
Victor J. Yoo's answer CA Franchise Tax Board requires all individuals who are domiciled in California to file a state tax return. There may be several factors to consider whether or not you need to file your tax return in California including but not limited to: was there a source of income earned in California, how long you lived in California, your driver's license status, your voting status, do you own a home in California, are you attending schools in California, are covered under medical insurance for "Covered...
David S. Greenberg's answer In the usual course, the IRS automated collection system [ACS] will issue either a CP90 or LT11 Final notice of intent to levy with a notice of your right to a collection due process hearing within about 5 weeks after issuance of the CP504.
However, I have encountered several situations whereby the final notice does not issue within the predictable time frame. This usually occurs when the account is being transferred from ACS to a local revenue officer.
Frank Huerta Jr's answer No you do not have to file an additional tax form for California. However if you are gifting the home to your daughter, you should also fill out the Primary Change of Ownership Form (PCOR) with you county.
From what you describe, something does not sound right. In some instances a trust or estate will "pass though" tax liability to the beneficiary but only where that liability is connected to a distribution. For example, if a trust makes a distribution to a beneficiary that consists of income and capital gains earned by the trust, it may pass the tax liability to the beneficiary. This is done because the beneficiary, as a general rule, has a lower tax rate than the trust....
Linda Simmons Campbell's answer Not if you are in agreement with the results of your audit. I recommend hiring a good tax attorney unless you are sure you can provide everything the IRS is requesting with ease.
Paul Martin Vargas' answer Hi. The company would have to register with California as a foreign entity (foreign means entities outside of California, not just the U.S.). As a result, $800 minimum Franchise Tax to California per year would be due. Also, any activity conducted in California will result in income tax liability for both California and the IRS. There may be offsets due to foreign tax paid and exclusions, but now I'm getting outside the scope of this question. I hope this helps.
Paul Martin Vargas' answer Hi. Yes, you would have a cause of action in civil court against the FTB for unauthorized collection action. There are some details that are not in your question that would need to be assessed to determine the strength of your case. The fact they are willing to refund you the amount retained shows culpability on their part. It may be best to accept the refund (if procedurally possible) and move on; but, again, you may have more damages as a result of their unauthorized collection that a civil...
Nancy J. Wallace's answer unless the Award specifies it is repayment of wages earned but never paid (extremely unlikely, the WCAB Judge has no jurisdiction over wage claims), then the Workers Comp award is a non-taxable event. It is payment for surrending rights to further treatment and permanent disability award, it is not wages earned for working.
Eric Steven Day's answer You will still be able to take the exemption from gain on the sale of a personal residence under certain circumstances. It's called the 50 mile rule. If the location of the new job is 50 miles or further away you will be able to take the exclusion of the 2-year rule and the entire transaction would be tax free
Well, you have basically two options: 1) Sell the properties as part of the probate process, or 2) Distribute the properties to yourself and your brother and sell them later. Neither really has any effect on the taxes you will pay as far as capital gains.
When a person dies, their property receives a "step-up" in basis. Capital gains tax is calculated as the sales price less the property's basis. So, the basis for you and your brother is the same whether the...
Linda Simmons Campbell's answer If your ex-wife was not responsible for the debt then she can file Form 8379, Injured Spouse Allocation. The IRS will allocate the amount that she should have received if she had filed separately. This will hopefully keep things on a more friendly note between the two of you.
If you filed jointly then you are both responsible for the debt unless she is granted innocent spouse relief (not always easy to get).
David S. Greenberg's answer In a community property state, your wife has a community interest in your income. The IRS therefore has standing to engage in enforced collection by way of levy of your wife's community interest in your income.
A separate property agreement would protect you from such enforced collection of your wife's interest in your income.
Tobie Brina Waxman's answer Before speaking with an attorney, call the child support agency. Speak with the representative or lawyer who is assigned to this particular case and discuss your options with him/her. Be sure to also discuss your lack of notice of the pending action and of the fact that you have been paying Mom $500. You'll need to back that up with some kind of written proof. Do this right away because the interest will continue to accrue, so don't waste time. It costs you nothing to start by contacting...
Bahram Madaen's answer It depends on the term of the trust and the current trustee's power. if the trustee could amend the trust, he/or she might be able to do so without violating Prop 13. I recommend contacting an attorney to review the trust.
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