Tax Law Questions & Answers

Q: If you receive money from a court judgement do you have to pay taxes on the money?

1 Answer | Asked in Tax Law, Family Law and Real Estate Law for Georgia on
Answered on Aug 14, 2018
P. Justin Thrailkill's answer
You need to talk to a CPA about this, not an attorney (unless they are a tax attorney).

Q: If I sell a rental property in Florida where I live and buy either a house or land in NY do I still have to pay capitals

1 Answer | Asked in Tax Law for Florida on
Answered on Aug 14, 2018
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.


1 Answer | Asked in Family Law, Tax Law and Appeals / Appellate Law for California on
Answered on Aug 13, 2018
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...

Q: If I am tax exempt with capital loss outweighing my ordinary income, do I still get money back at the end of the year?

1 Answer | Asked in Tax Law for Arkansas on
Answered on Aug 11, 2018
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...

Q: I’m having a baby by a man who is fully supported by his mom. Can I sue his mom if she claims him on her taxes?

1 Answer | Asked in Family Law, Tax Law and Child Support for Maryland on
Answered on Aug 11, 2018
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.

Q: kids are 19, 20 and 21 can I file a civil suit for unpaid support? I’ve never received his taxes due to him not filing.

2 Answers | Asked in Civil Rights, Family Law and Tax Law for Florida on
Answered on Aug 10, 2018
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.

Q: Ask TAX question for selling apartment oversea (<240k)

1 Answer | Asked in Tax Law for North Carolina on
Answered on Aug 10, 2018
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.

Q: I work in PA and my employer who is out of state failed to withhold and pay local taxes for all of 2017. Are the liable?

1 Answer | Asked in Tax Law for Pennsylvania on
Answered on Aug 7, 2018
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.

Q: What happens if an individual fails to report a foreign bank account?

1 Answer | Asked in Tax Law for Colorado on
Answered on Aug 3, 2018
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.

Q: Do I have to report my Airbnb income on my taxes?

1 Answer | Asked in Tax Law for Texas on
Answered on Aug 3, 2018
Frank Huerta Jr's answer
Yes,it is considered taxable income. You can deduct your expenses related to your Airbnb income as well.

Q: A local bookkeeper prepared our taxes this year. She made mistakes and we want to know what legal actions we can take.

1 Answer | Asked in Tax Law for Colorado on
Answered on Aug 3, 2018
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...

Q: House in a Trust- 2 beneficiaries. 1 wants to buy 2's interest. Does Prop 13 parent to child transfer tax rate apply?

1 Answer | Asked in Real Estate Law and Tax Law for California on
Answered on Aug 2, 2018
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.

Q: In a tax audit by SC Dept of Revenue, under what circumstances can you request an extension?

1 Answer | Asked in Tax Law for South Carolina on
Answered on Aug 2, 2018
Linda Simmons Campbell's answer
I am not licensed in South Carolina but most tax authorities will grant a reasonable extension. Just explain why you need it and it is likley it will be granted.

Q: I got a notice of deficiency from the IRS for about $2,000. I filed a petition, but is it worth it to go to tax court?

1 Answer | Asked in Tax Law for New York on
Answered on Aug 2, 2018
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...

Q: I'm being followed by helicopters and drones

3 Answers | Asked in Criminal Law and Tax Law for California on
Answered on Aug 2, 2018
Dale S. Gribow's answer
the IRS does not call.

i suspect it is a SCAM

Q: Is there a legal aid lawyer I am unemployed and need someone to help me with my state and federal tax I had a case open.

1 Answer | Asked in Tax Law for New York on
Answered on Aug 1, 2018
Frank Huerta Jr's answer
I would suggest you contact a Low income Taxpayer Clinic. These clinics are funded by the Taxpayer Advocate Service and are free of charge if you are eligible.

Q: If I'm disabled and have back property taxes is there any way to stop them from selling it so I don't lose my home.

1 Answer | Asked in Tax Law for Pennsylvania on
Answered on Aug 1, 2018
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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