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New York Tax Law Questions & Answers
2 Answers | Asked in Estate Planning, Real Estate Law and Tax Law for New York on
Q: How to fill New York State form IT2663 for title transfer into revocable living trust for foreigner.

I am a non-US citizen. I own a condo in NYC which is not my primary residence. I want to transfer this condo into my revocable living trust (domestic). My attorney filled out form TP584 as a conveyance without consideration. Therefore, no transfer tax is due. At the end of this form, it states that... View More

Marco Caviglia
Marco Caviglia
answered on Feb 7, 2025

A revocable trust's assets are still your tax responsiblity, e.g. property taxes, because it is revocable. The form you are filing suggests you are getting income from the property and that is taxable. If you have no confidence in your atorney, you should obtain another one. Do so or take... View More

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3 Answers | Asked in Tax Law for New York on
Q: I am selling my house. I am going to give the profits to my son. Do we have to claim it on our income tax forms ?
Phillip Todd Zagotti
Phillip Todd Zagotti
answered on Feb 3, 2025

You will likely have a gift tax reporting issue, and depending on the size of your estate, you might be subject to tax liabilities as the person giving the gift.

That said, depending on the intent and desired timing, there might be more tax-efficient ways to achieve a similar outcome....
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3 Answers | Asked in Tax Law for New York on
Q: I am selling my house. I am going to give the profits to my son. Do we have to claim it on our income tax forms ?
Marco Caviglia
Marco Caviglia
answered on Feb 7, 2025

According to Publication 525 (2024), Taxable and Nontaxable Income, property one receives as a gift isn't included in his income. However, if property you receive this way later produces income such as interest, dividends, or rents, that income is taxable to you. The obligation to the donor... View More

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2 Answers | Asked in Tax Law for New York on
Q: How do I not get taxed on money I downloaded for a Russian streamer.

He downloaded his earnings from his Russian TikTok account into my United States bank account, via PayPal. It was then transferred back to him via bitcoin I have a 1099 – K from PayPal looking like I earned that money, when I didn’t.

Phillip Todd Zagotti
Phillip Todd Zagotti
answered on Feb 2, 2025

Hello,

This situation seems to occur more frequently than you might think. You could be violating US sanctions, which could land you in some trouble.

Firstly, this could appear to be money laundering. You've received money, likely because the original recipient can't...
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3 Answers | Asked in Real Estate Law, Tax Law and Probate for New York on
Q: My mother passed in 2021, she had left the house to me and my 3 children. There is about two years of unpaid property

And school taxes that are behind, the house is still caught in probate court and i cannot make a payment plan since it isnt in my name, and i cannot afford to pay it all upfront. How do i stop the house from going into foreclosure?

Damien Matthew Bosco
Damien Matthew Bosco
answered on Dec 11, 2024

I'm sorry for your loss and the challenges you're facing. If probate is delaying your ability to act, consider filing a motion requesting the court to grant temporary authority to address urgent matters, like paying property taxes. An attorney can assist with this.

Possibly, you...
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3 Answers | Asked in Real Estate Law, Tax Law and Probate for New York on
Q: My mother passed in 2021, she had left the house to me and my 3 children. There is about two years of unpaid property

And school taxes that are behind, the house is still caught in probate court and i cannot make a payment plan since it isnt in my name, and i cannot afford to pay it all upfront. How do i stop the house from going into foreclosure?

Peter Klose
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answered on Dec 11, 2024

First of all, don't panic. I am not sure where the property or the probate court are located, but as a sole practitioner, I see this many times a year. Find a small law local firm to probate the will or administer the estate. Nothing is going to move quickly. Gather up all of the... View More

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1 Answer | Asked in Tax Law for New York on
Q: What is recourse if real property was illegally seized when taxes were always paid in full and county ascribed wrong own

Owner and failed to notify record owner of deed

Damien Matthew Bosco
Damien Matthew Bosco
answered on Nov 25, 2024

If your real property was transferred due to errors by the county (e.g., assigning the wrong owner or failing to notify you of changes to the deed) contact the county recorder or assessor's office in writing to dispute the error. Include copies of your tax payment records, the deed, and other... View More

2 Answers | Asked in Estate Planning and Tax Law for New York on
Q: A parent has a trust with 2 beneficiaries. Give a house to one kid now and give half the value to the other.

A parent has a trust with 2 beneficiaries. We would like to move a house into a separate trust with only one beneficiary. So the house is being given to one child but the other should get half of the 2024 value somehow

Not sure the best way to do this so the other child gets half the 2024... View More

Nina Whitehurst
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answered on Aug 30, 2024

Giving the house to one beneficiary now could have many unintended negative consequences such as loss of step up in basis at the death of the gift giver and a hefty Medicaid penalty period assessed against the gift giver on account of the lifetime uncompensated transfer.

This is not the...
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1 Answer | Asked in Family Law, Immigration Law and Tax Law for New York on
Q: My father want to become netrilize citizen of U.S and he didnt pay tax of 2 years will it effect on his case.

Hi i am abroad of U.S my father is in new york city he wants me to go there now he wants to file 130 petition and also he is a green card holder and also wants to applay for citizenship ( want to neutralize) but he didnt give tax for 2 or 3 year( because of some reasons) will this effect on his... View More

James L. Arrasmith
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answered on Jul 2, 2024

To address this situation, there are a few key points to consider:

1. Tax obligations:

Not filing taxes for 2-3 years could potentially affect your father's naturalization application. When applying for citizenship, USCIS (U.S. Citizenship and Immigration Services) looks at...
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1 Answer | Asked in Tax Law and Collections for New York on
Q: How can I get a old 2007 tax debt removed? Statue of limitation is 10 yrs from date yet its still there .
James L. Arrasmith
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answered on May 15, 2024

I understand your concern about the old tax debt from 2007 still appearing on your record despite the statute of limitations expiring after 10 years. Here are a few key things to know and steps you can take:

The IRS has 10 years from the date of assessment to collect back taxes before the...
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1 Answer | Asked in Tax Law for New York on
Q: I received notice of final intent to levy and 668 federal lien letter. For both I immediately sent the 12153 forms

because I want to make sure I did ON TIME and was told this would be hold on further action/collections until hearing where I hope to work out OIC or someother resolution since in hardship and don't have funds to pay,etc. My question is - I am now working with Tax Relief service because I was... View More

James L. Arrasmith
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answered on May 14, 2024

If you're working with a tax relief service, it won't negate your request for a Collection Due Process (CDP) hearing. As long as you submitted the Form 12153 on time, your request should still be processed by the IRS. The tax relief service can assist you in preparing for the hearing and... View More

1 Answer | Asked in Tax Law for New York on
Q: if irs officer assigned to my final intent to levy and federal lien phoner callls go straight to vm is that a bad sign

I received final intent to levy 4/29, i immediately sent request for cdp hearing due to financial hardship etc. The officer assigned to me called and said received and to call them at number they gave me. Since then call goes right to vm and never returns messages. I then got on saturday a 668... View More

James L. Arrasmith
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answered on May 14, 2024

I understand your concern about not being able to reach the IRS officer assigned to your case. Here are a few thoughts and suggestions:

It's unlikely that the officer sending you straight to voicemail is necessarily a "bad sign." IRS officers are often very busy and may not...
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2 Answers | Asked in Tax Law for New York on
Q: how do i get low cost help preparing and representationfor CDP hearing for either OIC or hardship non collectible status
James L. Arrasmith
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answered on May 14, 2024

Here are some options for low-cost help preparing for a Collection Due Process (CDP) hearing to request an Offer in Compromise (OIC) or Currently Not Collectible (CNC) hardship status:

1. Low Income Taxpayer Clinics (LITCs): LITCs provide free or low-cost legal assistance to low-income...
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1 Answer | Asked in Business Formation and Tax Law for New York on
Q: If I started a NY apparel business some years back but never did anything with the business just the formation

If I started a NY apparel business some years back but never did anything with the business just the formation ( business formed w/ state, trademarks, EIN business account) all done. I have filed taxes, Franchise & income taxes every year for the business and now want to apply for the... View More

James L. Arrasmith
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answered on May 14, 2024

Based on the information you provided, there shouldn't be any major issues with obtaining a Certificate of Authority (CoA) or resale license for your New York apparel business. Since you have already formed the business, obtained trademarks, secured an EIN, and have been filing taxes... View More

1 Answer | Asked in Business Formation and Tax Law for New York on
Q: I started a NY apparel business some years back but never did anything with the business just the formation.

If I started a NY apparel business some years back but never did anything with the business just the formation ( business formed w/ state, trademarks, EIN business account) all done, Franchise taxes filed for the business every year. and now want to apply for the certificate of authority/ resale... View More

James L. Arrasmith
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answered on May 14, 2024

Based on the information you provided, there should generally not be any major issues with obtaining a Certificate of Authority (COA) for your New York apparel business, as long as you have maintained the business properly since its formation. Here are a few considerations:

1. Business...
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1 Answer | Asked in Tax Law for New York on
Q: is NY corporation need to file TAX FORM NY C3-M who is doing business in NY, Buffalo City?
James L. Arrasmith
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answered on May 9, 2024

Yes, a New York corporation doing business in Buffalo, NY is generally required to file Form CT-3-M, the General Business Corporation MTA Surcharge Return.

Form CT-3-M is used to determine and pay the Metropolitan Transportation Business Tax (MTA Surcharge) for corporations doing business...
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1 Answer | Asked in Tax Law and Social Security for New York on
Q: I want to rent property that I own in another country ( Panama ) as an airbnb. They are very transparent with the U.S.

I am on disability. How will this affect me ? Can I legally structure this property as some sort of Corp. that may help me ?

James L. Arrasmith
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answered on Mar 13, 2024

Renting out your property in Panama as an Airbnb while on disability in the U.S. can have implications for your disability benefits and taxes. Here are some considerations:

1. Income reporting: You must report all income earned from your Airbnb rental to the Social Security Administration...
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1 Answer | Asked in Tax Law, Consumer Law and Business Law for New York on
Q: Is it normal to be charged tax on a repair of a musical instrument in NYC?

I brought in a violin to a luthier in Brooklyn NY to fix. She first told me a price for the job and I agreed and left it by her.

She also gave me a paper to sign which showed the original price. For some reason, she didn't give me a copy of the paper at that time.

Now two... View More

James L. Arrasmith
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answered on Mar 8, 2024

In New York City, charging sales tax on the repair of tangible personal property, including musical instruments, is standard practice. The tax applies to both the parts and labor involved in the repair, not just the physical items purchased as part of the service. Therefore, it's normal for... View More

1 Answer | Asked in Tax Law, Employment Law, Antitrust and Civil Rights for New York on
Q: My Amended 2020 TAXES have been illegally re- Amended 3x! And my Forms 3949-A/ 211 for Award were removed!? Conspiracy!

Mass State Employees from REVIEW BOARD/MASS DUA- PUA / DOR HAVE SENT LETTERS INTO NY OTDA OFFICE IN ALBANY, THESE PPL HAVE OBLIVIATED MY CIVIL RIGHTS BASIC HUMAN RIGHTS TO SHELTER, VIOLATING TITLE 18§ 371 CONSPIRACY, DEPRIVATION OF RIGHTS, MASS TOLD NY I DIDNT FILE MY 20' TAXES? I DID &... View More

James L. Arrasmith
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answered on Feb 22, 2024

It sounds like you're facing a serious and concerning situation regarding your tax filings and interactions with government agencies. It's understandable that you're feeling frustrated and overwhelmed by what appears to be a series of mishandlings and potential violations of your... View More

1 Answer | Asked in Gov & Administrative Law, Tax Law and Business Law for New York on
Q: Looking for guidance on unique Statute of Limitations for property seizure in NY state

I had a large amount of losses (from 2009 and 2010) that were initially dis-allowed by the IRS which resulted in an audit and a no change letter

NY State followed suit, and disallowed my losses on my NY return, however, they never followed the Federal when my losses were deemed to be... View More

James L. Arrasmith
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answered on Feb 4, 2024

In New York State, the rules surrounding the statute of limitations for tax collections and the ability to claim refunds or credits can be intricate. Typically, there is a limit on how long the state can pursue taxpayers for alleged debts, as well as a limit on how long taxpayers have to claim a... View More

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