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Colorado Tax Law Questions & Answers
1 Answer | Asked in Real Estate Law and Tax Law for Colorado on
Q: How do I sell a 0.26 acre lot left behind in Pueblo County, CO after my parents’ passing?

I have two sisters that want me to sell the lot and split it three ways. I don’t want to be liable for the taxes in their entirety after the sale. What kind of document do I need from them before I can sell the lot? How do I avoid the entire tax liability? Neither of us want the lot.

Thank you.

Agustin  Arbulu
Agustin Arbulu answered on Jan 25, 2022

This is an important question posed. As I understand it your parents left you and your sister a piece of property. I am assuming the property was to be owned jointly with your 2 sisters. Further I am assuming the property is in your name for convenient purposes (like to avoid probate). If that is... Read more »

1 Answer | Asked in Estate Planning and Tax Law for Colorado on
Q: are trusts of estate required to be registered? And if so, is there an index number, or how can I find if registered?

are trustees required to submit forms proving powers of appointment?

D. Mathew Blackburn
D. Mathew Blackburn answered on Dec 18, 2021

Irrevocable trusts are required to be registered as are estates subject to probate. Revocable trusts and estates under the probate requirements are not required to be filed with the district court, probate court in Denver County.

The best way to find out is to go to ICCES...
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1 Answer | Asked in Immigration Law, Products Liability, Tax Law and Workers' Compensation for Colorado on
Q: air bag recall cheerrdul clicks enable js
Alexander Ivakhnenko
Alexander Ivakhnenko answered on Nov 2, 2021

I suggest you contact a local attorney license in Colorado to discuss a possible case for defective equipment. By telling your story to the selected the training you will be able to establish a possibility of merits of your civil case.

1 Answer | Asked in Tax Law for Colorado on
Q: What penalties will I receive for submitting taxes as a dual LLC if we were a sole member in 2020?

Hi!

I recently filed my taxes with a filing agency, and they submitted my taxes as a dual member LLC, but we are a sole member LLC.

Am I going to get automatically audited? How can I protect myself?

D. Mathew Blackburn
D. Mathew Blackburn answered on Jun 8, 2021

We are a sole member LLC? That sentence doesn't sound right.

This sounds like a marital partnership.

There's no additional tax or penalty for filing as a partnership vs a Sole-proprietership. Assuming that the partnership return was filed timely.

The difference...
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1 Answer | Asked in Tax Law and Child Support for Colorado on
Q: How do disabled individuals know to file for taxes if they received ssdi?

I became disabled in 2013 I have not work since 2011. I owed a duty of child support in the amount of $3755.00 it was pd off. There was an iwo sent to the local ssa office. There were 2 Garnishments that I was not informed about the iwo untill the ssa sent me a letter stating the GARNISHED amounts.... Read more »

Sabra M. Janko
Sabra M. Janko answered on Mar 5, 2021

You should speak with the caseworker. It sounds like you may not have received notice of the garnishment case so did not have the opportunity to respond. If that is what happened, and you have good cause for not responding, then you might be able to have the garnishment case reopened. If you are... Read more »

1 Answer | Asked in Tax Law for Colorado on
Q: We made a few mistakes on our taxes a few years in a row we didn't have all of our w2s so we guessed as as we could.

We were handed 4 year of very steep penalties tried to be very honest with the state of Colorado but they said we still have to pay 44000 in penalties. Is there something that a lawyer could do to help us??

Timothy Canty
Timothy Canty answered on Feb 26, 2021

Your penalties may be dischargeable in a Chapter 13 bankruptcy depending on how old they are, whether you filed the returns on time and whether a tax lien was recorded. Other factors need to be considered (e.g. your income, assets, other debt, etc.) Check with an experienced bankruptcy lawyer as... Read more »

3 Answers | Asked in Tax Law and Immigration Law for Colorado on
Q: I-130, does low Income affected eligibilty to bring my wife in US?

I'm a new graduate , green card holder with a decent job now and planning to bring my wife in US. Last year my total income was around $8000 but this year it is around $50000. IRS ask 21k per year for family of 2. Can I submit my document will only the last tax year or will I need to add both... Read more »

Mario Musil
Mario Musil answered on Feb 3, 2021

When you submit your affidavit of support it will ask for the past 3 years of your income. You will need to submit evidence showing that this year you are earning significantly more despite only having earned $8,000.00 on your prior return. A qualified immigration lawyer can assist you in this... Read more »

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1 Answer | Asked in Tax Law, Workers' Compensation, Business Formation and Business Law for Colorado on
Q: Do I need Workers Comp for a Single Member LLC when it's just me?

I formed an LLC for Photography and it's only me, am I required to get Workers Comp or can I save that?

D. Mathew Blackburn
D. Mathew Blackburn answered on Jan 8, 2021

No, not required.

1 Answer | Asked in Tax Law for Colorado on
Q: Is the payroll tax deferral constitutionally legal?

President wrote executive order for payroll tax deferral, with a payback date and no option out for military service members. Sounds like taxation without representation.

D. Mathew Blackburn
D. Mathew Blackburn answered on Sep 10, 2020

There is no constitutional requirement for representation prior to taxation. Washington D.C. residents have no representation and they still pay income tax. If you travel through a state that you don't reside in you are still subject to that's state's sales tax even though you have... Read more »

1 Answer | Asked in Tax Law for Colorado on
Q: Can a Family member claim your child as their dependent and give you the return because you owe the irs

Owe the irs for unpaid student loan debt

D. Mathew Blackburn
D. Mathew Blackburn answered on Aug 27, 2020

While that sounds tempting it would be considered fraudulent and could not only result in fines and penalties but could create unintended consequences.

You should not do that.

You should look at loan rehabilitation or consolidation and an income based repayment options. With no...
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2 Answers | Asked in Tax Law for Colorado on
Q: I have been married for 11 months and just found out my husband has not filed taxes in 10 years. Am I in any way liable?
D. Mathew Blackburn
D. Mathew Blackburn answered on Aug 23, 2020

No you can't be liable for a return you did not sign.

Sometimes collections can take joint property. In that case you would have to prove that you owned the property to get it back.

He should get someone to look at those missing years and get that resolved.

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1 Answer | Asked in Immigration Law and Tax Law for Colorado on
Q: Can an undocumented immigrant, who was an independent contractor, file a tax return without a 1099 or W-2?

He will apply for an ITIN with the tax return.

Kevin L Dixler
Kevin L Dixler answered on Jun 12, 2020

Yes. You are a tax resident, not a permanent resident, if you reside in the U.S. for more than 183 days, so if you owe taxes, then you are required to file a Federal tax return. In addition, this filing can help confirm that you resided in the U.S. should it be necessary to prove it.

If...
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1 Answer | Asked in Tax Law for Colorado on
Q: Ive been staying the same hotel for about a year and a half in CO,am I suppose to receive all state and lodgers tax back

I think that after 30 days I am supose to receive a reimbursement is this true? if so how do I go about getting this back from hotel management?

D. Mathew Blackburn
D. Mathew Blackburn answered on Jun 1, 2020

Probably, under CRS 39-26-704(3) stays of 30 consecutive days or more are tax exempt.

You should speak to the hotel first. If the hotel has already sent the tax to CDOR you would have to get your refund directly from them.

You also have to check the city an county rules. If the...
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1 Answer | Asked in Contracts, Foreclosure, Real Estate Law and Tax Law for Colorado on
Q: How much in average does it cost to draft up a two part buyer and assignment contract
James A. Greer
James A. Greer answered on Mar 25, 2020

Contract Request: if I understand your question, you need a Purchase Contract (?) for real estate (?) with two buyers, and then a subsequent assignment of that contract (?). We offer Fixed Fee for transactional work of this nature. It would be less than $1000.00. But I'd really need to get a... Read more »

2 Answers | Asked in Criminal Law, Federal Crimes and Tax Law for Colorado on
Q: If someone failed to report an entire source of income over 2 years. What’s the chance they will see prison time?

If they have been turned in via 3949a

Linda Simmons Campbell
Linda Simmons Campbell answered on Mar 22, 2020

It is impossible to say without additional information. This is also something that should not be discussed in an open forum. You need to stop looking for answers here and contact a tax attorney where attorney client privilege will apply.

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1 Answer | Asked in Tax Law for Colorado on
Q: Can a person go to prison for not reporting an entire source of income?
Timothy Canty
Timothy Canty answered on Mar 22, 2020

Yes

1 Answer | Asked in Tax Law for Colorado on
Q: What are the penalties for failure to report income? How serious does the IRS pursue these cases?

Over a period of multiple years.

Linda Simmons Campbell
Linda Simmons Campbell answered on Mar 21, 2020

If the person is audited then they can receive up to a 50% penalty depending on whether or not the IRS considers it fraud or not. That is on top of all the other penalties and interest that will also be assessed. I cannot tell you whether or not the IRS will audit a taxpayer without a lot more... Read more »

1 Answer | Asked in Tax Law for Colorado on
Q: My girlfriend failed to claim income on her taxes. A little over 50k. What type trouble is she looking at?

She was paid under the table and deposited checks into her bank account.

Linda Simmons Campbell
Linda Simmons Campbell answered on Mar 21, 2020

This is not the type of question for this format. She needs to talk with a tax attorney directly where she will have attorney client privilege and everything she says will be confidential. Most of us offer a free consultation which can be done over the phone. Just tell her to stay away from the... Read more »

1 Answer | Asked in Family Law and Tax Law for Colorado on
Q: I believe my baby’s father claimed our kid this year for taxes and my tax form was rejected by the IRS

It was also my year to claim our kid upon the court ordered agreements.

Sabra M. Janko
Sabra M. Janko answered on Mar 21, 2020

I am sorry to hear about your situation. You could ask your ex to amend the tax return and if not , then you can file a motion for contempt of court for a failure to comply with the court order.

1 Answer | Asked in Tax Law for Colorado on
Q: Is the cost basis 4 the 2019 sale of vacant land in Fed schedule D, purchase price plus property taxes paid 1995-2018?

The vacant land is located in Colorado. The property taxes were itemized deductions 1995 through 2016.

David Ostrove
David Ostrove answered on Feb 24, 2020

Your cost BASIS is what you paid for the land.

You do NOT add the property taxes.

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