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Also, after buying the cryptos, can i trade them back to my home country. And doing such will i face any immigration issues?
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answered on Jan 22, 2024
As an international student in the U.S., you are generally allowed to convert money from your home country into U.S. dollars and invest in cryptocurrencies. However, it's important to be aware of several factors. Firstly, ensure that you comply with the foreign exchange regulations of your... View More 
I'm a F1 visa holder and i am currently outide US for winter break. I came a week ago to my home country and will go back next month to US. Can I work on my college's web development project. I will get paid based on hours for this project, but this project is a part of my college's... View More
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answered on Nov 22, 2023
Regarding your F1 visa status, the key aspect is whether the work qualifies as Curricular Practical Training (CPT) or Optional Practical Training (OPT). Since the project is part of your graduation requirements, it might be considered as CPT. However, you must have authorization from your... View More
I have this letter from an attorney that I contract on this cort case because I took a loan (signature) and it seems that was some illigalities or not outhorize on my state. The company agree not to persue any collections but they will issue a 1099 C
I’m one of the primary attorneys... View More
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answered on Nov 19, 2023
When you receive a 1099-C form for canceled debt, such as the $27,000 in your case, the amount is generally treated as taxable income by the IRS. The exact amount of tax you'll owe depends on your overall income, tax bracket, and other factors in your tax situation for that year.... View More
My husband and I are independent contractors ourselves working in Chicago app b week developers (we both have green cards) and started hiring independent contractors to help with some projects(a little over $2k/year). There are a couple of projects that are coming and will make us have a lot of... View More
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answered on Nov 19, 2023
Hiring a non-resident independent contractor from countries like Costa Rica, Ecuador, or Colombia involves understanding both U.S. tax implications and the legalities of international contract work. When hiring international contractors, one key form is the W-8BEN, which is used by foreign... View More
I want to acquire the property from my uncle, who holds the deed, but there's a mountain of back taxes and I don't know how to find out whether an additional loan was taken out on the property. Where do I start? What should I be asking, and to whom?
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answered on Oct 23, 2024
Start by collecting all documents related to the property, including the deed your uncle holds. Visit the local county assessor’s office or their website to review property tax records and identify any outstanding taxes or liens. This will give you a clear picture of the financial obligations... View More
My ex spouse is offering a buyout of the remainder of our Marital Separation Agreement. She and her attorney are offering it as "tax exempt". How would this one time payment be tax-exempt if I normally have to pay taxes on my monthly payments? Wouldn't it still be considered income to me?
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answered on Oct 21, 2024
When you receive a lump-sum buyout for your existing alimony agreement, the tax treatment depends on when your original agreement was made. If your separation agreement was finalized before January 1, 2019, the buyout may still be considered taxable income, similar to your monthly payments. This... View More
US Bank Trust National Association, as trustee of the LB-Ranch Series V Trust by SN Servicing Corp. as attorney in fact, of Eureka, Calif., sold a residence at 212 S.E. Front in La Prairie to Mike Fuhrman of La Prairie for $12,000 on May 30. I don't understand the beginning of this statement... View More
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answered on Oct 9, 2024
It sounds like the trust managing your grandparents' estate took action to sell the property. The US Bank Trust National Association acted as the trustee, meaning they were responsible for handling the assets in the trust. Sometimes, when an estate isn't actively managed, the trustee may... View More
I am on my F1 OPT and working full time. I have completed my Masters in Packaging Engineering. Is it possible for me to open up an Etsy/Amazon/Ebay shop that specifically sells packaging for small/home business products? My ultimate goal is to make it a physical business with physical address which... View More
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answered on Sep 6, 2024
Starting an online business while on F1 OPT is possible, but there are some important factors to consider. OPT regulations require that any work you do be directly related to your field of study. Since you studied Packaging Engineering, you should ensure that the business you start aligns with that... View More
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answered on Jul 31, 2024
Yes, California taxing authorities can seize your car to satisfy a debt. This is a measure taken when other attempts to collect the debt have failed. Your vehicle may be subject to seizure if it has significant value and is one of your assets.
However, they typically consider your essential... View More
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answered on Jul 30, 2024
If you owe back taxes, the IRS can take your SSDI back pay. This is part of the Treasury Offset Program, where the government can offset federal payments to collect overdue debts, including taxes.
To potentially prevent this, you can try to set up a payment plan with the IRS before... View More
Not being a U.S. citizen or resident alien, I have not signed a W2, I-9 or W-9 form or filed a 1040 form as I do not reside in the United States per 26 USC 7701(a)(9) and (a)(10) nor do I reside in the State of California: I have refuted the presumptions and denied the allegations presented by... View More
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answered on Jul 26, 2024
Based on the information provided, if you are not a U.S. citizen or resident alien and do not reside in the United States, third-party information returns like a 1099-K alone do not automatically create a federal or state tax filing liability. Your status as a non-resident alien under 26 USC... View More
Thanks for taking my question. I have just been sentenced to federal probation and ordered to pay restitution to an injured party. However, I also owe money in back taxes to the state of Illinois for unpaid taxes from 2021. A condition of my probation is that I file a tax return this coming spring.... View More
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answered on Jul 18, 2024
When you file your tax return and are issued a refund, the government will prioritize payments based on the specific laws and regulations governing your situation. Typically, the IRS will apply your federal tax refund to any outstanding federal tax liabilities first. Since you are on federal... View More
I acquired property thru realestate tax sale.
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answered on Jun 9, 2024
Based on the information you provided, it seems that you purchased a property in Wheaton County, Illinois through a tax sale due to the previous owner's failure to pay property taxes. Here are some key points to consider:
1. Tax Deed: After purchasing the property at the tax sale, you... View More
answered on Nov 8, 2023
The answer depends on the dollar value of the estate. If your mother did not earn enough to have to pay the Illinois inheritance tax, it is doubtful that she will have to pay any federal estate taxes since the dollar value threshold of the estate for federal tax purposes is significantly higher... View More
on getting my child back what can i do in order to get this fraud behavior to stop
answered on Oct 1, 2023
Do you have a court order between you and the other parent that gives you custody or parenting time? Who is this person whose household she has joined? How old is this child? Have you filed a police report? There are a lot of issues here.
I received stock in the form of RSU, but at the time it was over $100 a share higher than it is now. Now I'm being taxed off of the original stock amount since it is looked at as a "cash bonus", but even selling the stock I can't raise the capital needed to cover that tax... View More
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answered on Sep 14, 2023
The taxation of RSUs can be complex, and it's unfortunate that the stock's value has dropped significantly. You're correct that capital losses can often be used to offset capital gains, but there may be limitations on the amount you can deduct in a given tax year. I recommend... View More
I received tax document in my mail box. Can I file a law suit & if yes who.
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answered on Mar 4, 2023
Yes, you may be able to file a lawsuit for identity theft or fraud against your previous employer for using your Social Security number for another person. You should consult with an attorney who specializes in identity theft and employment law to evaluate your options and help you pursue any legal... View More
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answered on Mar 4, 2023
If your delinquent taxes were sold and you pay your upcoming taxes, it is possible that you may still owe the delinquent taxes plus any additional fees and interest that may have accrued. In this case, you should contact the entity that purchased the delinquent taxes to find out what the remaining... View More
He stayed with her for December but that was due to me (being without a vehicle) and her and the child's dad, keeping him from or not helping me to see him, I live 45 minutes away. They will not let him come back to my house.
answered on Jan 3, 2023
If you provided over half the cost of raising the child in 2022, you are entitled to claim the child on your taxes. If that is the case, make sure you file your taxes as soon as possible. If grandma's tax return is filed after your, her attempt to claim the child is likely to be rejected... View More
Soneone is paying 5.000 a yr they're signing marylou phebus she is deceased
answered on Dec 23, 2022
sounds like you should retain an attorney privately, since there could be some serious criminal activity going on
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