Indiana Tax Law Questions & Answers

Q: Will I lose my tax return??? Filed chapter 7

3 Answers | Asked in Bankruptcy and Tax Law for Indiana on
Answered on Feb 14, 2019
Stuart Nachbar's answer
The answer depends on if same was exempted out. Some states follow the federal exemptions and some go with State Exemptions. Talk to your counsel about same and make sure it was properly exempted out.

Q: Can my fiance claim my kids and me on taxes?

1 Answer | Asked in Tax Law for Indiana on
Answered on Jan 2, 2019
Frank Huerta Jr's answer
If your fiance intends to claim them for the Earned Income Tax Credit or the Child tax Credit, he will be unable to do so because there is a relationship test. The child will fail the relationship test which requires the child to be his own child, a stepchild, or a foster child placed with you by a court or authorized agency.

Q: I have owned my home for 23 years and paid my property taxes. I had a two story barn that is shared with neighbors was

1 Answer | Asked in Tax Law for Indiana on
Answered on Jul 30, 2018
Alexander Florian Steciuch's answer
No one is going to be able to give you an adequate answer on here. You should consult with a local attorney in your area, specifically someone who has experience in property tax disputes and real estate matters.

Q: May I prepare I financial statement without a CPA license? Can you show he Indiana Code that supports your answer?

1 Answer | Asked in Business Law and Tax Law for Indiana on
Answered on Jul 26, 2018
Eric Steven Day's answer
I am not an Indiana Attorney, but generally anybody can prepare a financial statement for their business. Where you would need the licensing is if you were preparing financial statements for a publicly traded company or you were Auditing those financial statements.

Q: Need help figuring out 401k distribution options ( separated from work age 55)?

1 Answer | Asked in Tax Law and Public Benefits for Indiana on
Answered on Jun 9, 2018
Eric Steven Day's answer
It just depends on what type of work you are doing now. For instance, if you are working for another company, you might roll it into their 401k plan. If you are in retirement, the IRA might be a good option because you are just waiting on distributions. If you are running your own business, you may consider starting a management company in the form of a C Corporation and sponsoring a solo 401k with that Corporation. This will allow you to contribute much more money and use the capital in...

Q: Wanting to confirm what I have researched. An estate only files a federal form 1041 if there is income over $600?

1 Answer | Asked in Tax Law for Indiana on
Answered on Apr 12, 2018
David S. Greenberg's answer
IRS Form 1041, U.S. Income Tax Return for Estates and Trusts, is required if the estate generates more than $600 in annual gross income. The decedent and their estate are separate taxable entities. Before filing Form 1041, you will need to obtain a tax ID number for the estate.

Q: Can you file bankruptsy, if it is IRS,back taxes and medical bills,

1 Answer | Asked in Tax Law for Indiana on
Answered on Feb 23, 2018
Linda Simmons Campbell's answer
The automated phone call you received is likely a scam call. The IRS does not call you and leave a message saying they will take you to court. If you owe money to the IRS they will contact you by mail first. Prior to any levy action the IRS will send you via certified mail a final notice of intent to levy. As far as filing bankruptcy, you will need to go to a bankruptcy attorney and see if you qualify. This is not something we can tell you on this format. I can tell you that you can not...

Q: I have been levied by the state and all funds taken. This has happened a year ago and I can't get any answers

1 Answer | Asked in Tax Law for Indiana on
Answered on Aug 8, 2017
Michelle D. Wynn's answer
You posted this question in Indiana although Justia has tagged your location as Minnesota. If this is about Indiana levying your accounts, you may want to try setting up an Online Services account to see what liabilities the state is showing that you owe. http://www.in.gov/dor/4331.htm

It appears the Minnesota Department of Revenue offers similar services and information through its E-Services accounts. http://www.revenue.state.mn.us/individuals/individ_income/Pages/eServices.aspx

Q: Ex is up to file our daughter. Do I have to allow it even if it's in our divorce decree?

1 Answer | Asked in Tax Law and Child Support for Indiana on
Answered on Mar 13, 2017
Alexander Florian Steciuch's answer
I'm not entirely sure what you are asking. Allow him to file his taxes? The most common issue that divorced parents encounter with children and taxes is which parent gets to claim the child and earn the credit on their tax return. I believe that is what you are asking. Take a look at your custody agreement or divorce decree. It should be addressed in there who gets to claim the child on their taxes. If it is not addressed, generally the first person to claim the child gets the credit.

Q: I owe $15,000 in income taxes to the IRS for past tax years; am interested in a quote for help withan offer of compromis

1 Answer | Asked in Tax Law for Indiana on
Answered on Feb 11, 2017
Matthew M Montoya's answer
The most important question is whether you qualify for an offer in the first place. This will depend on the equity you have in your assets combined with your expected future income.

That said, offers can run between $3000 and $6000 depending on the complexity of the offer and whether you need to be brought into filing compliance.

Feel free to contact me by phone at 720 507 1829 or by email matthew@montoyatax.us.

Q: Someone called my college impersonating me to get tax forms using my social security number, and changed my address

1 Answer | Asked in Social Security, Tax Law, Criminal Law and Identity Theft for Indiana on
Answered on Feb 4, 2017
Paul Stanko's answer
Unless you have a suspect, calling the police may be futile. Ask your college security or police department to investigate, and contact one of the three major credit agencies to put out a fraud alert.

Q: I recently found out that my mother had cashed in my daughters inheritance & mine too. My dad died from alztimers.

1 Answer | Asked in Criminal Law, Family Law and Tax Law for Indiana on
Answered on Oct 2, 2016
Paul Stanko's answer
Your mother may have committed crimes that a prosecutor will be interested in pursuing. Contact your local police agency to file a report.

Q: Unreported income 2012/ bankruptcy

1 Answer | Asked in Bankruptcy and Tax Law for Indiana on
Answered on Oct 1, 2016
Paul Stanko's answer
Your attorney has a confidential relationship with you. Contact him concerning your tax issues. Do not make a false affidavit, as that would be perjury.

Q: For personal reasons, I need to give my house to a family friend. What is needed in Bloomington, IN?

1 Answer | Asked in Real Estate Law and Tax Law for Indiana on
Answered on Sep 19, 2016
Paul Stanko's answer
What do you mean by "give" your house? If you have title in real property, you can execute a Warranty Deed in favor of another person. There will be title and recording expenses, and taxes will be pro-rated to date of closing.

Q: Is intestate settlement money taxable as income?

2 Answers | Asked in Tax Law for Indiana on
Answered on Nov 6, 2015
Terrence H Thorgaard's answer
No. An inheritance is not considered income (by federal law), and I would bet that state law is similar.

Q: Hello. Sorry about this. I walked away from my corporation in the year 2000 because I was flat broke. Am I still

1 Answer | Asked in Tax Law for Indiana on
Answered on Oct 12, 2015
Robert Jason De Groot's answer
What you must do is contact a firm that settles tax matters like this.

Q: My ex sold house on a short sale, I filed a quit claim deed, now he is trying to say I owe half of taxes from form 1099c

1 Answer | Asked in Tax Law for Indiana on
Answered on Nov 18, 2013
Zaher Fallahi's answer
If you co-owned the property, you would be responsible for 1/2 of the income reported as canceled debt by lender. If your quit claim or gift to her was conditioned upon her payimng the applicable txaes for you, that is a separte contrcat between you two and not valid for the IRS purposes. Although you may have cause of action against wife to recover.

Q: I need to renew my registration for my car will state taxes owed prevent me from renewing it?

1 Answer | Asked in Tax Law for Indiana on
Answered on Sep 29, 2013
Jennifer Long's answer
Hi,

Every state has its own method for handling delinquent state taxes. According to Indiana's Bureau of Motor Vehicles website, delinquent taxes are one reason why you may not receive an IN renewal notice.

Additionally, unpaid taxes can lead to the following state enforcement action:

1) auctioning of property

2) garnishing of wages

3) levying bank account.

I would encourage you to contact a tax professional to get an answer that is tailored to your...

Q: How do I file an objection for a tax - forclosure matter, in a circuit court

1 Answer | Asked in Tax Law for Indiana on
Answered on Jul 12, 2012
Mr Jeffrey D Heck's answer
This is all handled by statutory provisions. It is unlike most litigation. You must do it within 12 months of the foreclosure sale.

The main point is that you have to pay the back taxes in all cases.

With taxes paid, you may have to pay the purchaser the statutory interest rate.

I have litigated these issues. There may be some constitutional problems with the statutory scheme, but they have not made it to the Court of Appeals that I have seen.

Q: Do i pay county taxes if i live and work in the same county?

1 Answer | Asked in Tax Law for Indiana on
Answered on Jul 12, 2012

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