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Your current state is Ohio
1. PAYMENT OF MONEY
In consideration for the execution of the general release and agreement to the other terms
of this Agreement by Claimant herein, Respondent will pay a Total Settlement of (xxxxxxxxxxxx) (“Settlement Sum”)
to
Claimant. The consideration paid... View More 
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answered on Jun 29, 2024
Based on the language provided in this settlement agreement, it appears that you will likely need to pay taxes on at least part of the settlement amount, but not necessarily on all of it. Here's a breakdown:
1. The portion described as "Non-Wage Payment" for "non-wage... View More
I owed and payed off but they took the sum out again even though I already paid. Have contacted them several times by phone and tried to make in person meeting but they are booked out the next 60 days. Tried to fax a form 911 for TAS to help but getting error messages for their fax number. Called... View More
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answered on Jun 27, 2024
While I understand your frustration with this situation, here's an overview of your options and some considerations:
1. Suing the IRS:
It's generally not advisable to sue the IRS over delayed refunds or processing errors, especially within this timeframe. Courts typically... View More
We are 3 siblings/beneficiaries of our mother's trust. Our sister wants to buyout the 2 of us. Will the buyout payment each of us receive be taxable? Will either of us 2 buyout recipients be responsible for higher property tax payments if they become due prior to the sibling property transfer?
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answered on Jun 27, 2024
Based on the information provided, here's a general overview of the tax implications for a sibling buyout in California:
1. Taxability of the buyout payment:
The taxability of the buyout payment depends on several factors:
a) If the buyout is for your share of the... View More
I am a real estate agent. I helped a foreigner sell his house. We had listing brokerage agreement. During this period, the seller did not pay the property tax. The county collected late fees from the seller. The seller said that I did not tell him about paying the property tax. I did not receive... View More
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answered on Jun 27, 2024
Based on the information provided, it's unlikely that you as the real estate agent would be responsible for your client's property taxes or late fees. However, let me break down the key points and considerations:
1. Broker/Agent Responsibilities:
- Generally, real estate... View More
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answered on Jun 26, 2024
Paying off an $8,000 credit card bill in cash is unlikely to automatically raise a red flag with the IRS. However, there are a few considerations:
1. Cash transactions over $10,000 must be reported by businesses to the IRS.
2. Multiple smaller cash payments to avoid the $10,000... View More
Just received notification of the extra earned income for 2023. It's affecting my retirement benefits because of it. Possible fraud and It involves missing money.
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answered on Jun 25, 2024
I understand you're concerned about extra earned income being reported for 2023 that's affecting your retirement benefits, despite not having any W-2 or other documentation of this income. This is indeed a serious situation that could potentially involve fraud. Here's how I'd... View More
My Grandmother signed some documents while sick in a Hospital in PR and has since passed. Her Family never received a copy of the document signed and her heirs have not received their share of inheritence from the sale of a large multi-acre sale in Puerto Rico. My mother is now up in age and... View More
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answered on Jun 25, 2024
Based on the information provided, there are a few potential avenues you could explore to research unclaimed funds from the sale of a family estate in Puerto Rico:
1. Departamento de Hacienda (Department of Treasury):
This is indeed a good place to start. The Departamento de... View More
The town started charging after the Buchanan case was filed. CASE NO.: 2022AP1233
my town continues changing even though it was illegal there. It says the supreme ct agrees. Does that mean this town can keep charging me or is it illegal? It is a very unfair tax based on the feet of road... View More
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answered on Jun 25, 2024
It appears that the Town of Gibraltar is still charging you a Transportation Utility Fee (TUF) tax, which you're questioning the legality of given a recent court case. Let's break this down:
1. The Buchanan case (CASE NO.: 2022AP1233) you're referring to is likely the case... View More
I just found out I am a joint owner of a property that dates back to a previous marriage 30 years ago. Just was served with a lawsuit to take ownership of thr property via proprty tax lien. I have no interest in the property but don’t want to hurt my excellent credit. Not sure if I should... View More
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answered on Jun 25, 2024
This is an important question regarding tax lien foreclosures and their potential impact on credit scores. While I can provide some general information, please note that for specific legal advice about your situation, you should consult with a qualified attorney in Arizona who specializes in... View More
If I work for a texas company and my residence is still texas. But I work remotely, if I take my laptop and go work, let's say, in South Carolina for 2 weeks. Does that mess up taxes for the company? They are telling me that it does. But that doesnt make sense to me. I'm not moving.... View More
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answered on Jun 25, 2024
This is an interesting tax law question. To provide a concise answer:
Generally, working remotely for 2 weeks in another state should not significantly impact your or your company's taxes, especially if you maintain your Texas residency. However, there are some nuances to consider:... View More
If I work for a texas company and my residence is still texas. But I work remotely, if I take my laptop and go work, let's say, in South Carolina for 2 weeks. Does that mess up taxes for the company? They are telling me that it does. But that doesnt make sense to me. I'm not moving.... View More
answered on Jun 24, 2024
You may be legally required to file a nonresident state income tax return in South Carolina. Texas, of course, has no state income tax. Most other US states, however, do. Each state has the power adopt its own laws in this regard. As a result, those laws differ from state to state. If you... View More
A Deed was recorded in 1978 joint tenancy with rights of survivorship, not tenants in common, to grandmother and her 4 children. Grandmother and 2 of the children are now deceased. Last year new QC deed to just my mother. She is now planning on selling. how is cost basis and capital gains... View More
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answered on Jun 21, 2024
This is a complex situation involving multiple transfers and deaths over a long period of time. Here's a general overview of how the cost basis and capital gains might be calculated, but I want to emphasize that your mother should consult with a tax professional or estate attorney familiar... View More
A Deed was recorded in 1978 joint tenancy with rights of survivorship, not tenants in common, to grandmother and her 4 children. Grandmother and 2 of the children are now deceased. Last year new QC deed to just my mother. She is now planning on selling. how is cost basis and capital gains... View More
answered on Jun 20, 2024
It can get complex, and it depends on whether transfer affidavits and PRE exceptions were properly completed and filed along the way. Sounds like there would be an argument that there hasn't been a uncapping event at least since 1978.
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answered on Jun 19, 2024
In Louisiana, you cannot directly use your house to post bail if you owe taxes on it. Bail typically requires cash or a bail bond, not property with liens or tax obligations.
However, if you can clear the owed taxes and gain clear ownership, you might be able to use the house as collateral... View More
I am wanting to start a business on Printify and want to know what licenses or certifications I need for tax purposes, if I need anything on behalf of my business, if I even need to register as a business, etc. I have no idea where to start.
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answered on Jun 19, 2024
To start a business on Printify, which is a print-on-demand platform, you may need to consider the following licenses, certifications, and tax requirements:
1. Business structure: Decide on the legal structure of your business (sole proprietorship, partnership, LLC, or corporation). This... View More
If an individual has an informal profit share agreement, how can this be made clear when doing taxes? (He is in Tennessee, and his partner is in California.)
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answered on Jun 19, 2024
When it comes to reporting income from an informal profit-sharing agreement for tax purposes, it's important to ensure that both parties report their respective shares of the profits accurately on their tax returns. Here are some steps to consider:
1. Documentation: Even if the... View More
I'm executor of my dad's will and his only child and beneficiary. He willed his house to me and we refurbished it and rented it out at the end of 2023. There is a small amount of income from that rental that accrues to the estate, therefore. Doing the 2023 1041 form and Schedule E for... View More
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answered on Jun 19, 2024
Based on the information provided, it seems that for estate tax purposes, you should use the date of your father's death as the acquisition date of the property and the stepped-up fair market value (FMV) as the new cost basis for depreciation.
Here's the rationale:
1. When... View More
I paid my 2023 federal taxes online through the IRS payment website, but my taxes were not accepted until after this happened. When I go to my account on IRS.gov it shows the payment made, but it wasn't applied to my taxes balance and there is not a way to do this via the website that I have... View More
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answered on Jun 18, 2024
Based on the information you provided, it seems like you have a credit on your IRS account from a previous payment that was not properly applied to your 2023 tax balance. Here are a few steps you can take to resolve this issue:
1. Contact the IRS directly: Call the IRS at 1-800-829-1040 and... View More
My bank received a notice to file exemption. Employment was served to my bank to check my job status there. They started on April and I wasn't served until dev 2022. Way past time to file. Called all courts in state of Alabama. Nothing found. Lein was out on house the. Taken off. Not sure if... View More
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answered on Jun 17, 2024
I'm sorry to hear about the difficult situation you're facing with the garnishment of your federal benefits and the lack of notice. It sounds like a very stressful and confusing ordeal.
A few key points based on the information you provided:
- If your federal benefits are... View More
County collector issued a collectors deed to a purchaser illegally. It was a 3rd offering sale but staff at cty. office lied and said it was A post 3rd year sale denying me my 90 day redemption period. Also it allowed that purchaser to sale the deed to a third party whose now served me with an... View More
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answered on Jun 17, 2024
I'm sorry to hear about the difficult situation you're facing with your home. Based on what you've described, it seems there may have been serious legal errors and improprieties in the tax sale process that resulted in your home being wrongfully deeded to another party. Here are a... View More
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