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Tax Law Questions & Answers

2 Answers | Asked in Tax Law for Tennessee on

Q: I just recently verified my identity with the IRS for 2017 and 2018 will they send a check to me or to tax preparer

Bruce Alexander Minnick answered on Jun 18, 2019

Unless you authorized the IRS to send the refunds to a preparer the IRS will send it to you.

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1 Answer | Asked in Tax Law for Oregon on

Q: According to State of Oregon my son owes 60,000 and is being garnished due to not filing his taxes. He needs help.

How much will it cost him for a lawyer

Andrew M Steiger answered on Jun 17, 2019

If it is an Oregon state tax issue, the best thing to do is call a few tax attorneys in Oregon and get some price quotes. You can expect some to quote a flat fee and some to quote hourly. You can also ask attorneys you know to refer you to a trusted colleague.

2 Answers | Asked in Tax Law for Illinois on

Q: If an accountant has delayed (4 months and counting) a tax return because of an admitted mistake...

can they send a check from their firm to cover that amount (~$3,000) until the IRS sends the money to us?

D. Mathew Blackburn answered on Jun 17, 2019

They can, but they won't.

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2 Answers | Asked in Entertainment / Sports, Gaming and Tax Law for North Carolina on

Q: NC shot down a 2017 bill to legalize and tax Daily Fantasy Sports winnnings. Do i have to pay tax on winnings then?

I havent been able to get a clear answer on this. If DFS is not regulated and taxed in NC then i shouldn't have to pay state taxes on my yearly winnings right? Only Federal taxes. If so what is it taxed under and at what %

James Richard Yandle answered on Jun 17, 2019

Wrong. The income is taxable, whether legal or not. Same as for income from embezzlement, illegal drug sales, or racketeering.

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1 Answer | Asked in Civil Litigation, Family Law, Tax Law and Civil Rights for Tennessee on

Q: How much will it cost to have an attorney look closed case up and determine if It can be thrown out? Or general info.

I've been put thru hell since last court case and divorce. I've reached out to law and or friends. I need a chance at successful life. Career advancement and i want to know about placement for witnesses for gov.

Bruce Alexander Minnick answered on Jun 17, 2019

Unless you can get a lot more specific facts about your needs you will not be able to get the interest pf any lawyers.

1 Answer | Asked in Tax Law, Business Formation, Business Law and International Law for Florida on

Q: How to set up a touring company in another country?

Hi, I am trying to start a touring company in Jamaica with my brother. He will be responsible for hiring and securing proper licensing and management of drivers in Jamaica, (already hired one) and I will be in Florida, running the business, banking and marketing end. What would be the best way to... Read more »

Bruce Alexander Minnick answered on Jun 17, 2019

Free practical advice offered for the last 41 years to people starting or operating small businesses:

The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small businesses...
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1 Answer | Asked in Real Estate Law and Tax Law for New Jersey on

Q: My mother in law is debt about $100,000 She owns 2 homes outright and believes that the debt dies with her Is she right?

She lives on the rental money from a condo and lives in the other home. We have been trying to have her put the houses in her daughters name but she wont because she uses the tax breaks from owning the homes.

Bruce Alexander Minnick answered on Jun 17, 2019

Maybe not. Depending on the kind of debt, if the creditors want to enforce their rights they can sue your mother's estate (i.e., the houses and ay other assets she owns) after she passes. Consult a collections lawyer.

2 Answers | Asked in Tax Law for Michigan on

Q: IRS Back Taxes, cannot afford to pay them, these date back to 2009-2011 have gone into collection need advise

I know that I have read that you can make payments up to 6 years, however when calculating these I cannot afford to make payments like this, at all I am 55 years old, and have nothing. It was all bad tax advice in the day.

Linda Simmons Campbell answered on Jun 17, 2019

You need to hire a good tax attorney. Most of us offer a free consultation. Stay away from the places you see advertised on TV. A tax attorney can frequently do better for you then you can do on your own. If you cannot pay monthly towards your debt they can get you put into currently not... Read more »

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1 Answer | Asked in Estate Planning, Tax Law and Banking for Florida on

Q: Who is liable?A financial investment company(UBS) did a payout instead of the rollover my financial adviser requested

Now 3 years later the IRS is demanding taxes on the "payout". The money was actually rolled over into a different account but unfortunately UBS did not do what we requested and it was sent as a payout (we paid taxes on it) and coded as a payout instead of a rollover. We have re-sent the original... Read more »

Bruce Alexander Minnick answered on Jun 17, 2019

It is very difficult to analyze your situation and give you guidance without seeing all the underlying documents--including every statement from UBS received by you--both BEFORE the "mistake" and ever since--plus every other document with facts and numbers related to this SNAFU. Moreover, no... Read more »

1 Answer | Asked in Tax Law for North Carolina on

Q: When you transfer a UGMA account to a joint Tenants in Common account - are there any tax penalties for the joint owner?

Transferring a UGMA account to the now of-age beneficiary. We have the option of transferring to a joint Tenants in Common account with 80% ownership to the primary beneficiary and 20% to joint account holder (former custodian). Would there be any tax penalties or tax ramifications for the 20%... Read more »

Bruce Alexander Minnick answered on Jun 17, 2019

The person who set up the UGMA (grantor) and put money into the account--for the benefit of a minor--can withdraw any or all of the money at any time. If the account drew interest over the time it existed, the interest will be (or perhaps already has been) reported to the IRS as interest received... Read more »

1 Answer | Asked in Estate Planning and Tax Law for Florida on

Q: Can someone tell me if the deed that I have is a ladybird deed ?

I can email the deed on a private message

Lauren Nagel Richardson answered on Jun 15, 2019

A real estate attorney or an estate planning attorney who prepared these types of deeds would have to review your deed to answer this question for you. There is specific language which must be included for it to be a "ladybird deed" or "enhanced life estate deed."

You are welcome to call...
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1 Answer | Asked in Tax Law on

Q: How can General Meeting control to Board of Directors in company while exercising its power and performing function?

Bruce Alexander Minnick answered on Jun 13, 2019

This question makes no sense as written; suggestion: add about two paragraphs of facts.

1 Answer | Asked in Tax Law for Georgia on

Q: I have all my documentation from Express Mail that it was postmarked on 10/15/2018. I’m getting the run around.

Advocate, IRS nor Appeals will help me. My return was accepted. They keep telling me it was beyond 3 years and it wasn’t. I have my transcript where they accepted my extension.

Andrew M Steiger answered on Jun 13, 2019

Without a full transcript review, it’s hard to say. The last attorney mentioned three years plus extensions. Try referencing the Internal Revenue Manual (IRM) section 25.6.1.5 that mentions 3 yrs plus extension for SOL for refunds. The IRS agents should follow their own guidelines. This might... Read more »

1 Answer | Asked in Tax Law for Texas on

Q: I own a mobile home that is set on my daughter's property that is in jeopardy of being seized by the Irs.

Can they take my mobile home if it's in my name?

Andrew M Steiger answered on Jun 13, 2019

If it is your property and the IRS follows its guidelines, then yes the IRS can seize your property even if it is located on someone else’s property. The IRS can also levy your bank account balances held by your bank and wages held by your employer. You should have received a letter from the... Read more »

2 Answers | Asked in Tax Law for Georgia on

Q: I filed an tax extension for my 2014 taxes on April 15, 2015 and was approved.

Until what date did I have to file my 2014 tax return in order to receive my refund?

Bruce Alexander Minnick answered on Jun 12, 2019

October 15, 2015. Your are way late.

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3 Answers | Asked in Employment Law, Tax Law and Workers' Compensation for California on

Q: My ex employer misclassified me and all employees as independent contractors . Repeatedly would not pay on schedule.

Recently terminated for demanding paycheck which consistently was late 3-4weeks. what steps do I take to report employer and clarifying to tax board the misclassification

Neil Pedersen answered on Jun 12, 2019

You should quickly find an employment law attorney to discuss these issues. You may well have a valuable claim, depending on what kind of employee rights were denied you as a result of the misclassification. You may also have a claim that would allow you to raise the misclassification and other... Read more »

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1 Answer | Asked in Contracts, Tax Law, Admiralty / Maritime and Business Law for California on

Q: Does buyer of 'boat' LLC have to register ownership immediately after acquistion? And whom is responsible for taxes?

In October 2018, I sold my California LLC which only asset was a boat (wholly owned by my single owner/manager CA S corp).  Licensed yacht brokers handled the sale through a maritime attorney.  The deal was a straight up deal, llc for cash.  The same maritime attorney represented both buyer and... Read more »

Bruce Alexander Minnick answered on Jun 11, 2019

You are sailing in unchartered waters--at least for me. In addition, there are some important facts missing from you question that prevent lawyers from advising you. Finally, competent lawyers do not answer questions about what might happen in the future. Too many possibilities.

3 Answers | Asked in Divorce and Tax Law for Puerto Rico on

Q: Hello! Will the money received by ex spouse as divorce settlement be taxed?

Andrew M Steiger answered on Jun 11, 2019

In general, the 2017 TCJA changes the tax laws related to divorce in some key respects. The tax aspects of a property settlement did not change where property changes hands at the time the divorce is finalized. But be careful of receiving property with a built in tax gain where the value exceeds... Read more »

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2 Answers | Asked in Tax Law for Georgia on

Q: My father started a sole proprietorship, can I manage his income and expenses in a bank account that is in my name?

Will that effect my taxes at the end of the year?

Bruce Alexander Minnick answered on Jun 10, 2019

There is no way anyone can tell you what the IRS might or might not do; but I will advise you not to comingle your own personal funds with your dad's business funds--unless you like tax problems.

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