Michael David Siegel's answer You owe it, or there will be a tax foreclosure. The bank might pay it, but if they have not yet, the bank is not likely to do so in the future. The tax foreclosure goes like a regular foreclosure.
Jonathan David Warner's answer Consider sending her to a VITA or LITC Tax Clinic. They'll be able to review her tax returns and determine whether an Amended Return would be beneficial or appropriate - they provide services free of charge. Hiring a private practitioner would not be cost-effective for her purposes.
Jonathan David Warner's answer No, gifts are not taxable... for you. Depending upon a series of other factors, it could bear tax consequences for your Mom - she should consult with a tax attorney if she is in the habit of giving away larger amounts of money to friends and family members.
Jonathan David Warner's answer If she is falsely claiming you, yes, you can technically report her... but she’s your Mother! Doesn’t the thought of her being prosecuted bother you? Perhaps talking this over with her, as a first step, would be a more harmonious step towards resolving everything.
Linda Simmons Campbell's answer When you set up a corporation you have to pay yourself at least the average rate for your job in your area. So no it is likely that everything you make would need to be paid as income.
Chad Silver's answer The only legal tool to stop collection activity would be to have an Tax Attorney negotiate a hardship status with the IRS. Just because she was admitted to a long term inpatient care facility does not negate the legal duty to pay taxes. However, there are a number of avenues available to prevent collection of the taxes, reduce tax liability, and adjust tax witholding. Please give my office a call at 855-900-1040 and I'll be happy to speak with you about this.
Jonathan David Warner's answer You'll utilize Schedule C's for each business entity. You'll want to use an identical FEIN for each, assuming that you have been assigned same. If some of your entities are missing FEIN's, just leave that box blank.
Jonathan David Warner's answer Yes, file the required forms. The issue is not that you're late in filing your required tax documents; it's more important that you comply late as opposed to never. Unless you're attempting to file a fraudulent return, I cannot think of any circumstances where you'll get in trouble for filing your required tax returns.
Jonathan David Warner's answer If you're having doubts about the confidence you've placed in this individual, it's probably for good reason. If your sole sources of income comprise of Social Security and Pension, you may qualify to have your taxes prepared and filed - at no cost to you - through a pro bono or VITA organization.
Consider reaching out to your local Legal Aid Society or legal pro bono organization for directory assistance with this matter.
If you paid any money to this individual, and you elect...
In general, after your tax debt is fully paid off, you’ll receive any excess funds (less any fees charged by the county and their attorney for handing the property tax foreclosure) remaining. With this having been said, you really cannot be sure that there are excess funds unless you've received a Sale Report, as there are often humongous interest and penalty fees added to the pay-off....
Frank Huerta Jr's answer You can and should file the gift tax returns. For the years you made the gifts, if you did not exceed the lifetime exclusion you would not owe the IRS any money however you are required to properly report gifts made in excess of the annual exclusion amount.
Michael David Siegel's answer I had a case like this last year. There are ways to deal with it but it depends on the facts. Saying you are a shareholder when you are not is not the right thing to do, as you assumed. There are State and Federal estate tax and income tax consequences to doing this right. Also, the partition case was not done right if this issue arose post judgment.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.