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My mother-in-law owns a large tract of land in Iowa with her sister. Her sister recently died, so her portion will be inherited by her 3 children. My mother-in-law wants to know the best thing she can do with her portion. She's worried if she decides to sell her property, she will be paying... View More
answered on May 7, 2024
There are a few strategies your mother-in-law could consider to minimize tax liability on the inherited land:
1. Step-up in basis: If she holds onto the property until her death, her children will receive a "step-up" in cost basis to the fair market value at the time of her death.... View More
I'm in a very compromising concerning tax situation this year for 2023 apparently I have been investor IRS tax fraud as a beginning 2019 tax return 2020 and 23 I did file my tax return for 23 where was then audited and still currently being audited for tax fraud and investigation I don't... View More
answered on Apr 15, 2024
It sounds like you are dealing with a complex and stressful tax situation. Here are a few suggestions for next steps:
1. Gather all relevant tax documents and records, including past returns, W-2s, 1099s, receipts, etc. Having everything organized will help in addressing the audit.... View More
Is it legal for them to put my bill on my property taxes but continue to bill me for it without starting over? And if it is then is it legal for them to keep adding it to my taxes. Like lets say the first bill is 3 months late and its 300 dollars.they add that to my property taxes. Then three... View More
answered on Mar 8, 2024
Municipalities often have the authority to enforce ordinances requiring residents to maintain garbage service, and they can implement various measures to ensure compliance, including billing methods. The practice of adding unpaid garbage service bills to property taxes is a common approach used by... View More
This prepare has been our tax lady for almost 7 years. She signed off on these documents with my forge signature.
answered on Feb 22, 2024
If your husband forged your signature on state and federal tax forms, and these were submitted by your tax preparer, you do indeed have recourse options to consider. First, it's crucial to address the situation with the tax preparation service, specifically with the individual who has been... View More
I am from Nigeria. I am on a work visa I.e. H1B. I want apply for a debt consolidation or debt restructuring. A part of my credit card debt will be forgiven. I am well paid but have fallen into difficult situation. I am starting the National interest waiver EB2 application process towards obtaining... View More
answered on Dec 4, 2024
Having tax debt or seeking hardship relief can potentially impact your immigration status, particularly during the National Interest Waiver EB2 process. Immigration officials review financial responsibility as part of determining good moral character and financial stability.
However,... View More
he have any liability for this. Said he overlooked it and was sorry.
answered on Mar 24, 2023
Yes, he is potentially liable for any interest and/or penalties. However, it is likely the IRS will waive any penalties under the circumstances presented.
Of course, you are still liable for the unpaid taxes which you would have had to pay last year had your accountant not overlooked your 1099.
answered on Jan 25, 2022
This is very interest question and suggests that your fiance wants Head of Household (HOH) status to take advantage of the lower tax rate and higher standard deduction. To qualify for HOH your fiance must:
1. Pay for more than half of your household expenses (such as groceries, rent,... View More
My husband passed away 9 months ago. We were five years behind. I have them filed now. I owe quit a bit to the irs.
answered on Mar 1, 2021
It depends on how much you owe and some other factors with the innocent spouse possibilities. I would be happy to discuss with you if needs be 702-309-3333
answered on Jan 9, 2020
Not a real rule. People pay taxes without being represented all the time.
Father and two siblings put farm into LLC (split 50/25/25). One of the siblings is going to nursing home and selling their membership units (25%). An agreed price has been established for units. Should the LLC buy the seller's units and then sell them to me? OR Should I buy into the LLC first?... View More
answered on Aug 20, 2019
You need to hire a professional. There's a few things in your question that are not correct in regards to how an LLC functions. You're going to need more detailed advice than should be given through this forum.
answered on Jul 8, 2019
Under 561.1 of the Iowa Code past due taxes to the State of Iowa and Iowa counties or municipalities are specifically exempt from the homestead laws.
The county can and will auction your property to satisfy past due to back taxes.
I would suggest contacting the tax authority to... View More
I paied the first half and wont have the money for the last half till June 3
answered on May 2, 2019
Call the county assessor and tell them you need more time to pay the tax. They'll tell you your options.
Or hire an attorney.
I wanted to establish a new type of charity sale. A seller would list items for sale and upon purchase the seller would deliver them to a charity designated within the listing. The seller would obtain a drop-off receipt from the charity and mail or message a copy to the buyer to use for their... View More
answered on Apr 18, 2019
You are not asking general legal questions; you are seeking about $2,000 worth of free professional legal advice regarding the establishment of what appears to be a workable idea--if a lawyer is involved from the get-go. Suggest you hire a good lawyer and invest in their advice--before you make a... View More
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answered on Nov 16, 2017
You are not responsible for his tax debt. The IRS will not send you a bill because the debt is his not yours. The amount that he is telling you he owes is not unreasonable. Unless you or your children made over $4050 than he was allowed to claim the children if he was providing more than half of... View More
I have set up a monthly payment plan
answered on Oct 20, 2013
No, not if you live in the state of incorporation. Then you can be the agent. If you don't want to be the agent you will need to pay for one.
answered on Feb 5, 2011
Never seen the issue arise. Not likely to be an issue unless a judge is involved and considers you a risk to evade the court's authority by fleeing the country.
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