Alvaro Augusto Acevedo's answer In most cases if you lived in the property 2 of the last 5 years you exclude between 250K - 500K of gains regardless of what you do with the money. If you want to postpone capital gain you can do a 1031 exchange. www.lawyercpa.com.
Tobie Brina Waxman's answer Before speaking with an attorney, call the child support agency. Speak with the representative or lawyer who is assigned to this particular case and discuss your options with him/her. Be sure to also discuss your lack of notice of the pending action and of the fact that you have been paying Mom $500. You'll need to back that up with some kind of written proof. Do this right away because the interest will continue to accrue, so don't waste time. It costs you nothing to start by contacting...
Eric Steven Day's answer You can only use Capital Losses to offset capital gains. If you don’t have any capital gains, you can write off $3,000 per year until you either have enough capital gains to offset the remaining loss or you exhaust the whole capital loss using the $3,000 per year. In your example only $3,000 of the capital loss will be used against that ordinary income with the remaining $21,000 being carried forward to next year. You would still technically have income of $9,000. You may not owe tax...
Elizabeth Pugliese's answer All of the support provided to him by his mother can be considered income. Also if he is physically capable of working but does not, the court can impute income to him. You will need an attorney to help you pursue him for child support.
Terrence H Thorgaard's answer If you have a child support order, you don't need to file a new suit; collect the CS order. If you have proof that he owns the business and vehicles, and he lied about it under oath, he can be prosecuted for perjury, and you can perhaps, once you prove it, get a writ of attachment.
Michelle D. Wynn's answer You will need to declare the income on your 2018 income tax return when you file it next year. If the money was held in a foreign bank or other account, you may also have other filing obligations such as a requirement to file an FBAR or an IRS Form 8938. I suggest you use a professional to prepare your 2018 income tax return and any other required documents. Make sure that the person is experienced in handling foreign income and assets, as this is a very specialized area of tax law.
Frank Huerta Jr's answer 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 that case you would sue your employer.
Linda Simmons Campbell's answer If the IRS finds out you will face stiff penalties and interest and possible criminal charges. If this was nonwillfull then your best option is to file via the offshore voluntary disclosure program. You only have until September 28th. The paperwork can be difficult and confusing and you may want to hire an attorney to help you with it. You also want to make sure that your noncompliance was not willfull.
D. Mathew Blackburn's answer The costs of pursuing legal action for negligence, fraud, etc... are rarely worth the time and costs. You would have to file in the county where you signed the service agreement, or where the BK's place of business is. Filing fee will probably be more than you paid for the return.
If you paid by credit card you can request a chargeback.
I would move on and hire a competent preparer next year.
Let everyone know this person doesn't know how to do returns, just don't...
Bahram Madaen's answer It depends on the term of the trust and the current trustee's power. if the trustee could amend the trust, he/or she might be able to do so without violating Prop 13. I recommend contacting an attorney to review the trust.
Linda Simmons Campbell's answer When you petition the tax court you are usually given the opportunity to resolve it with a settlement officer prior to going to court. Ask them to explain (and provide you with the rule) why you owe the tax.
If you took the american opportunity tax credit you need to be a half time student (not all part-time students qualify). You can only take this credit for four years. It is also only partially refundable. If you had zero tax due to begin with you will not get a refund of the...
Frank Huerta Jr's answer I would suggest you contact a Low income Taxpayer Clinic. https://taxpayeradvocate.irs.gov/about/litc These clinics are funded by the Taxpayer Advocate Service and are free of charge if you are eligible.
Peter Munsing's answer 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.
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