I settled all my credit card debt by reaching agreements with the credit card companies. I settled my debt for about 50 percent. I paid off the balances that were not discharged. Is the discharged debt taxed as income?
Hello, My sister is a senior citizen. she has been trying to collect her deceased husbands IRS refund check for tax year 2017 since it was filed in 2018. She has contacted the IRS on numerous occasions and has been given several different instructions on how to get this accomplished. she has... Read more »
I worked 3.5 years there. I was on payroll for the first half year and resigned. He hired me back under the table. There is a seperation of employment form in my employee folder from 2015 stating I no longer worked there and am not eligible for rehire. I was sent a 1099 for 2018 only, not 2017 or... Read more »
Attorney’s poor advice and direction put us in a situation that we will lose our home plus need to pay another bank additional money. So is the total amount of our settlement taxable or only a portion? If only a portion what part?
My husband is currently disabled and we have had no income now for months. Until he can get any kind of help we have to pay to get our prior taxes done for his corporation (he no longer has - due to not being able to walk anymore); before we can do our personal taxes.
The penalty varies from plan to plan. You can check with the plan administrator to determine exact amount. It is unlikely that the IRS is even aware of the pension plan, do very doubtful that they will be able to seize money.
Your ex-wife's employment (or lack of it) and/or remarriage isn't relevant. What matters is any agreement about who gets to claim the kid for tax purposes. If there's no agreement, then the parent with primary physical custody gets to claim the child. If there *is* an agreement,...Read more »
My ex has not filed his taxes the last few years. I am assuming it is because he has child support arrears he knows will be collected from it. He has worked- several different jobs (I'm usually notified of wage attachments and terminations) so he has enough income to file.
If he's not current on his support obligation, you should definitely take him back to court for failure to comply/contempt. If he's paying his support every month, and he's also paying at least an additional 10% of the order to reduce the arrears, it may be more difficult to get any...Read more »
Two years ago, they offered me the choice to start receiving reduced monthly pension payments earlier, which I accepted. I was almost 60 at that time. I am still working for a different company. Are those pension payment taxable for Pennsylvania? My tax return program did not flag this, but I am... Read more »
You need to speak with a tax attorney who handles Pennsylvania issues. I can recommend Kelly Erb. Tell her I gave you her name. You will have to pay for the consult. A good Pennsylvania CPA would be another thought.
27 Pennsylvania Bulletin 306131; Pa. Code § 62.3 (E)(4) states “A total loss is settled based upon the pre-loss fair market value of the damaged vehicle plus the state sales tax on the cost of a replacement vehicle.” My brand new 2018 Honda CR-V 1,800 miles 3 week old was totaled. Insurance... Read more »
Unfortunately you are liable for your tax liability if there was not enough withholding. The government holds the taxpayer responsible to review their checks for the proper withholding amount. It would be a different story if they took your withholding and did not forward it to the government, in...Read more »
Generally if you agree to a lien for the amount they may withold. Most entities have regulations allowing you to ask for an exception. You may have some protection as a disabled person--call your state representative; also call the county disability rights advocate.
My wife had a student loan through HSBC, cosigned by her grandmother (now deceased). At some point this loan was sold to a lawyers office. Said lawyers office claims that HSBC owns the loan and HSBC claims the lawyers do. Are we legally liable for this debt since we don't know who owns it?
Your wife is obligated to the holder in due course of the note. You want to make sure you keep a log with date, time, identity of the person you speak with, and generally conduct things via snail mail. Yes hard copy and stamps. You save a copy of everything you get.
They can try to work out a payment arrangement with their town. If the taxes are more than a year old and no liens have been filed, they may be able to declare bankruptcy. If the town has already filed liens then the liens will stay even if they declare bankruptcy and a payment arrangement will...Read more »
My sisters is on Medicaid and with small SSI-D benifit. My sister thinks she can stay in house also. My mom died 6 months ago and mortgage co wants her out or start paying. I am worried about taxes, creditors etc coming after me.
If she is simply gifting the proceeds to the children they would not have to pay tax on the proceeds. If her name was on the deed and she paid the taxes associated with the sale, she can distribute when she feels. She may however have to file another tax return if the gifted amount is more than...Read more »
The Internal Revenue Code allows a 250000 exclusion (500000 for married filing jointly) of gain from the sale of your primary residence if you lived there for at least 2 of the 5 years prior to selling it.
State tax entities may vary the amount of the exclusion.
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