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New York Tax Law Questions & Answers

4 Answers | Asked in Tax Law, Divorce, Family Law and Child Custody for New York on

Q: My husband has been hiding income, rationing me for years, and has cut me off financially several times.

He also gaslights me, takes/hides my belongings, tracks my cell phone history (account is under his father’s. I have no access), has told me several times (during/post cancer) he wishes I would die, and is constantly creating financial hardship by spending large amounts of money on various... Read more »

Lawrence Allen Weinreich answered on Aug 16, 2019

Based upon what you have said, you would have grounds on the basis of fault. However, there is no need to go that route anymore. New York enacted "No Fault" divorce several years ago. All that is necessary to be alleged is that there is an irretrievable breakdown of the marriage for 6 months or... Read more »

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3 Answers | Asked in Estate Planning, Tax Law, Elder Law and Probate for New York on

Q: The IRS sent a notice of unclaimed 2017 refund + demand to file 2018 for a now dead person. Do I still need to file?

I'm the executor of Mother's estate + not in good shape to tackle this or pay to have it done. She died on Nov 4, 2018. I would say it's very unlikely she'd owed taxes, considering expenses from her long illness from Mar 2018 till her Nov 2018 death; all her MDW's were made on IRA's, etc. and she... Read more »

D. Mathew Blackburn answered on Aug 12, 2019

You should file 2018 and mark deceased and put the date of death. Without a deceased return the IRS can't know she died.

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1 Answer | Asked in Tax Law for New York on

Q: My bank sent me a letter that My W-8BEN forum was rejected, I was requested to fill a W-9 form, How should I reply?

My W-8BEN forum was rejected because it was incomplete (no non-U.S. foreign Tax Identification Number was provided on line 6, I was requested to fill a W-9 form in order to comply with US regulatory tax withholding and information reporting requirements.

I AM a Non-US citizens &... Read more »

Bruce Alexander Minnick answered on Jul 22, 2019

The amount of money involved ($9 per month) is way too small to be of interest to most lawyers--especially those of us here on Justia giving away their valuable time helping people solve real problems. (FYI, the law is not designed to solve every little problem that comes your way during this... Read more »

2 Answers | Asked in Estate Planning, Real Estate Law, Tax Law and Intellectual Property for New York on

Q: If there are 2 owners on a house and only one is paying the taxes how do you get a receipt in that 1 persons name ?

In my mother's name a grandparent had left money for me to purchase a home or use for college once I was of age . My mother had withdrawn the money once we found our small home and my father had convinced me to put his name on the home in case of any accidents or lawsuits . 3 years later the story... Read more »

Benjamin Z. Katz answered on Jul 18, 2019

You should get in touch with the County Assessor. However, I believe that whoever is listed on the Deed will be billed no matter who pays.

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1 Answer | Asked in Tax Law for New York on

Q: what happens if you never filled out form 709, when you transferred deed as a gift

My sister transfer deed for her condominium to her son back in 2009, Quitclaim deed was created, she did as a gift

but never filled out gift tax return form, how to fix it?

D. Mathew Blackburn answered on Jun 27, 2019

You can file it late, the penalty is based on the tax owed at the time of filing. IRC § 6651(a)(1). So if no tax would have been due then there's

In 2009 the lifetime exemption was 3.5MM so as long as the fair market value was less than that amount, reduced by any mortgage and the annual...
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2 Answers | Asked in Employment Law and Tax Law for New York on

Q: Told my employer an IRS debt was settled, she deducted my pay anyway. Now I’m receiving refunds. Was that legal?

This happened during the shutdown so I assume they hadn’t processed anything. I insisted that it had been settled. She just responded with “we will deduct it from the following 6 pay periods, if you want to speak to them go ahead”

Im currently receiving refund checks, but it’s... Read more »

Bruce Alexander Minnick answered on Jun 20, 2019

Yes. Not only was what your employer did legal--it was the most prudent thing that she could have done under the circumstances. Whether or not your employer "believed" you is not the point here. Why? Because your employer MUST obey the IRS lien or face stiff penalties. Be happy you are no longer... Read more »

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1 Answer | Asked in Real Estate Law and Tax Law for New York on

Q: Should Supreme Court be asking parties for their SS# and EIN# to account for distribution of sale funds of property?

In Supreme Court, unprobated real estate of my father's sold by private sale in court partition action. Myself and my brother's estate are beneficiaries/Heirs At Law. Funds are ready to be distributed. The court and its transactional attorney for the sale (Referee died 1-week ago) have not asked... Read more »

Michael David Siegel answered on May 1, 2019

No. There is not a requirement to report anything to the IRS and therefore, no requirement to get a tax ID number. The order will state how the checks are cut.

1 Answer | Asked in Tax Law and Real Estate Law for New York on

Q: When i sell a main home that was a rental property for 2 years before i sold it, in which i am eligible to have t sectio

When i sell a main home that was a rental property for 2 years before i sold it, in which i am eligible to have to section 121.

do i fill out 4797 parts 1 and 3?

Bruce Alexander Minnick answered on Apr 15, 2019

Call a CPA or tax lawyer and run this alternative plan by them--before you make a huge mistake.

2 Answers | Asked in Business Law and Tax Law for New York on

Q: What is the difference between LLC structured as a S Corp and a Corporation elect to be a S Corp?

What are pros and cons for each type?

Michael David Siegel answered on Apr 5, 2019

LLCs are not S-corps, but the tax issues are the same. There is little difference. These are tax driven questions which are determined by your personal tax situation.

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1 Answer | Asked in Tax Law for New York on

Q: The irs is going to take my fathers house due to back taxes and alot of my personal items are in and around the premise.

Is my personal items safe under the current law?

Linda Simmons Campbell answered on Mar 11, 2019

Most personal items are not seized when a home is auctioned by the IRS. I strongly recommend that your father contact a tax attorney to see if there is any way to save his home. Just stay away from the places you see advertised on tv.

1 Answer | Asked in Tax Law and Business Law for New York on

Q: if i was paid a 1099 from my s corp, do i put that on line 7 (compensation of officers) on 1120s?

If not where would it go?

D. Mathew Blackburn answered on Mar 4, 2019

No.

Goes in gross receipts.

1 Answer | Asked in Tax Law and Business Law for New York on

Q: Help with the calculation

i made 30k through out the year, why is it when i put the full 30k on my schedule c i get a refund, and when i put 25k on schedule c and 5k as a distribution from my s corp i owe money?

D. Mathew Blackburn answered on Feb 28, 2019

Distributions from S-corps don't go on the 1040, just the net income.

Also, S-corp income goes on the Sch E not the Sch C.

Distributions go on the K-1 and adjusts your basis. They don't affect income except for very limited circumstances.

I'd suggest you find a...
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1 Answer | Asked in Tax Law and Business Law for New York on

Q: i made 8k on my s-corp and i took that money out and put it into my disregarded llc how would i have to report it

and pay the least or no taxes?

D. Mathew Blackburn answered on Feb 25, 2019

You would file an 1120S for the S-corp income of $8k, issue a k-1 to yourself showing box 1: $8,000; Box 17: D $8,000 for the distribution to yourself.

Then record an $8,000 capital contribution to your LLC.

1 Answer | Asked in Tax Law for New York on

Q: Which state do I pay my state taxes too?

I own a business, My LLC was formed in New York, but I work virtually and move around often. All of my 1099 misc that I received this year, state my old address in NJ. My only physical office is in the state of Massachusetts ( where I do not receive any transactions). I get paid via wire... Read more »

D. Mathew Blackburn answered on Feb 22, 2019

You're going to have to determine in which states you have an income tax nexus.

New York you will have nexus because you're organized there. Next step is to determine the amount of income allocable to New York.

You likely have nexus in Mass. due to a physical place of business that...
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1 Answer | Asked in Tax Law, Business Formation and Business Law for New York on

Q: i have an s corp and i didnt pay myself a w2 in 2018? what do i do acn i pay myself a 1099?

if not how do i withhold all my taxes? and issue a w2?

D. Mathew Blackburn answered on Feb 22, 2019

If you didn't pay wages you can't issue a W-2.

A 1099 does not solve the problem and creates self-employment tax.

Make an estimated tax payment on IRS.gov or EFTPS.gov.

1 Answer | Asked in Business Formation, Business Law and Tax Law for New York on

Q: i am a real estate agent and i have an s corp can i pay myself a 1099 or do i have to pay myself a w2?

Michael David Siegel answered on Feb 21, 2019

As the year is over, it is too late for a wage payment as you did not withhold taxes. Therefore, issue a 1099. The tax issue is the same, as you will pay self employment tax on the 1099 income.

1 Answer | Asked in Business Law and Tax Law for New York on

Q: doing my taxes now i dont remember when i opened my corp

is there anyway to find out online, can i put an approx date

Michael David Siegel answered on Feb 21, 2019

If it is a New York corporation, you can do a business name search at the website of the Secretary of State of New York State.

1 Answer | Asked in Tax Law for New York on

Q: My wife won a settlement from a lawsuit involving a wire mesh for a bladder sling. Do we have taxes to pay on it?

D. Mathew Blackburn answered on Feb 20, 2019

It depends on what the damages were awarded for. Mental and physical pain and suffering are not taxable, most other awards are taxable. Yours may be a combination of different award types. You'll need to consult a tax professional and let them review the court documents to get a definitive answer.

2 Answers | Asked in Foreclosure, Real Estate Law and Tax Law for New York on

Q: What happens to the back taxes after the foreclosure claim is dropped

Michael David Siegel answered on Feb 7, 2019

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.

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1 Answer | Asked in Tax Law for New York on

Q: My daughter worked and lived in NYC all of 2018. She turned 18 in April of 2018. She supports herself on minimum wage

She earned 14050.00 in 2018 and now has to pay $195 in federal income tax. She is not a student. Is there any deduction she can take? She's barely able to buy food, much less pay taxes. I tried to claim her on my taxes but told ineligible. I live in Texas

Jonathan David Warner answered on Feb 1, 2019

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.

Good...
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