Texas Tax Law Questions & Answers
Q: I own a mobile home that is set on my daughter's property that is in jeopardy of being seized by the Irs.
Can they take my mobile home if it's in my name?
If it is your property and the IRS follows its guidelines, then yes the IRS can seize your property even if it is located on someone else’s property. The IRS can also levy your bank account balances held by your bank and wages held by your employer. You should have received a letter from the... Read more »
Q: Does previously defaulting on a 403b loan, disqualify one from a new loan from the same plan (employer) in the future?
I work for a public ISD. I opened a 403(b), took out a loan then defaulted on the loan. I have since paid the loan back plus the interest owed. It has been some years since and now I would like to use to the annuity plan to take out another loan. The Third-Party Administrator (TPA) has three... Read more »
Regardless of what anyone else told you, if the IRS told you no, the answer is no.
Q: Selling an investment home, how do I show profits are going to business partner when title is in my name?
I am financing an investment property in Texas that will be sold when it is finished making it a short term capital gains. The business partner I am working with is the person doing all the rehab and will be taking the lions share of the profit however I wanted to be the person on title because I... Read more »
If you and your friend are in business as a partnership, you’d file a form US 1065 and give each partner a K-1 form to report items of income on your 1040 return. It sounds like you should work with a local accountant to figure this out. If you’re not a partnership, then your payment to your... Read more »
Q: Business partner filed for a withdrawl of assumed name, is this considered a dissolution?
In 2018 my business partner emptied and closed our business account and started a competing business. She told clients awful lies about me and refused to sign a dissolution agreement or anything to help dissolve the partnership. This left me financially devestated. I kept the business going and now... Read more »
Free practical advice offered for the last 41 years to people starting their own small businesses:
The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small businesses... Read more »
Q: I was wanting to know if I already signed a form 872 do I have to sign another if they put the wrong date on the other
I was audited for my 2016 taxes and I am trying to take it to appeals I am being told that I have to sign another form 872 because the agent put the wrong date on the first one and I won't be able to go to appeals if I don't sign the one she has the correct date on she already had me sign one with... Read more »
Earth to taxpayer trying to appeal an IRS audit: You are dealing with the IRS. The IRS does not have time to argue with taxpayers over such silly things as the end date for completion of an audit. So-- unless you agree to sign whatever documents the auditor and IRS wants you to sign you may live to... Read more »
Q: wanting to know if I have to sign this new 872 since last was incorrect
I am appealing my audit I am begin told that if I don't sign the new form that I can't go to appeal I have a person working on it and they are telling me that If I don't sign the new 872 I won't be able to go to the new appeal I can only do Audit Recon is that true
The IRS often offers people the ability to pursue an Appeal of initial audit finding before the IRS issues a Statutory Notice of Deficiency. However, Appeals will only accept the case if they have at least 395 days before the current Statute of Limitations on Assessment is set to expire; this is... Read more »
Q: My father passed away owing 42k in IRS debt. I am the administrator of his assets
which only consist of a mortgage and two older vehicles. The bank accounts had another person on them and she depleted the money. There was a business, personal and IRA account, should that money legally be sent to help pay the irs? The sell of the home will not clear the debt. Thank you for your... Read more »
Although debt collectors have been harassing the people for too many centuries to count, and although most if not all government tax collector also harass the people for taxes imposed on nearly everything the people have, the Good news is that neither debt collectors nor government tax collectors... Read more »
Q: Who can enforce theft by an employer of employee withholdings and deductions?
This is not an isolated incident this is I believe, all employees over 5 years and at one point there was over a hundred employees. He has deducted for taxes Medicare social security child support none of which has ever been submitted to any of their respective places. I am still suffering behind... Read more »
If any of these allegations are true you should report everything you know to the federal authorities responsible for maintaining these financial records; state with the Social Security Administration and the IRS.
Q: My husband had a student loan before we met and got married. We are retired seniors. The irs wants me to pay hisdebt.
My husband is ill and unable to work. I have separate property I inherited years ago and want to pass it to my kids. He is not their dad. How can I protect it from the irs and his debt?
You are advised to hire a lawyer to help you inform the IRS of these important circumstances. If you are not a co-borrower or a guarantor on the student loan debt you have no legal obligation to repay your husband's student loan. However, if you and your husband are co-owners of any real property,... Read more »
Q: What happens when a company pays employees with a personal check without a pay stub every pay period?
There is no law or regulation requiring the use of a business account to pay employees. However, there are laws requiring all employers to inform all their employees--at least annually-- of the exact dollar amount they were paid and the exact dollar amounts of all deductions taken out of each... Read more »
Q: If I open a business account under a LLC with my EIN # instead of my ss #, can the IRS levy account if I owe IRS
I had a business account set up as a DBA with my ss# and I owe 3 years taxes not filed and they took all my money.
Without advising you how to evade taxes (which is illegal) I will say that--in matters involving collecting taxes owed--the IRS is nearly omniscient and omnipotent. The IRS not only knows who you are personally (your SSN is conclusive), they also know who owns every non-human entity that has an... Read more »
Q: My Husband inherited property from his late Father who left no will. He has two sisters, one wanted to sell, my Husband
doesn't want to sell. My Husband has been paying taxes on the property for the last five years. We want to place a house on the lot. How does he claim full ownership of the property? My Husband's Mother is still alive, and wants him to keep the property. The spouses divorced years ago, but there... Read more »
Since there was no Will and the wife apparently predeceased, the property will pass to all three children under Affidavits of Heirship, a Small Estate Affidavit or an Application for Determination of Heirship. While your husband may have been paying taxes for five years, that gives him a claim for... Read more »
Q: In Texas, my county's property tax assessor made a sizable error (in my favor) in calculating my property taxes.
It affected 2016 and 2017. They charged me and I paid only about $300 when my annual tax bill should have been more than $2,500. They recently noticed their error and have billed me to reclaim the difference. Do I have to pay the difference because of their error from 2-3 years ago?
Yes, regardless of who made the mistake, if you own the property then you are responsible for the property taxes.
The best thing to do now is to ask the county or city for assistance in repaying the huge debt they caused; unless I miss my guess, yours is not the only property that was... Read more »
Q: My dad wants 2 sell me his home below FMV, & continue 2 live with us. Tax implications? Any better options?
We would still be getting a mortgage, just well below Fair Market Value. Would it be better to do something different as in adding me to his deed, or some other legal maneuvering?
It might be better for him to transfer it to you effective on his death using a transfer on death or a Lady Bird Deed. If he makes any transfer of $200 or more for less than fair market value in the five years before he enters a nursing home (or hospital followed by a nursing home) and then, like... Read more »
Q: Do minors need to pay income tax?
I am a full-time student in high school. I've recently submitted some music to a music licensing company, and I am in the process of working out a contract with them. I am under the age of 16, and I believe I am claimed as a dependent on my parent's tax returns. According to the sample contract,... Read more »
Yes, if you have $400 or more of self-employment income you'll need to file a 1040.
How much income you have will determine whether your parents can still claim you as a dependant.
There is a difference between royalties from music and Self-employed Independent contractor income... Read more »
Q: How long after a vehicle registration and inspection expires do you have to renew?
My state inspection and registration is joined, expired 12/18, was cited on 1/28, but the state website says you have 90 days from expiration to renew, so I was still within that grace period, correct? Also literally no police officer or court official has known the answer to this question, and I... Read more »
Incorrect. Automobile registration expires on the last day of the month on the sticker, and you must update your registration prior to that date to avoid a citation.
Q: Daughter is living w/my dads while I get back on my feet I pay him he wants to claim her tax
I signed a paper a judge has not approved giving him rights. If I claim her on my taxes he says he will file criminal charges can he do that?
Your answer can not be answered until the orders are reviewed to see what the details are as spelled out. In general the IRS rules govern tax exemptions but you may have agreed to follow other rules. Seek the counsel of an attorney and tax advisor on these issues.
Q: If I believe my boss is skimming money from his business, who would I report this to? The IRS?
You could report this to the IRS if he is not reporting all the income he is making to the IRS for tax purposes. The IRS has a whistleblower program, where you can turn in individuals or businesses for evading taxes and take a percentage of whatever the IRS is going to collect from the taxpayer.... Read more »
Q: My spouse and I hv been filing our taxes jointly. Do I need her explicit approval to release the tax statements to any1
My sister has a visa appointment for an F1 visa at the US consulate. She has already secured admission to a school in the US. She was asked to bring the last 2 year tax statements of her sponsor to the US consulate for her interview. My spouse and I have marital issues and she has threatened me... Read more »
You each have a right to a copy of your tax returns. Speak with the immigration lawyer.
Q: bought land from private owner. Never changed title. Original owner paid taxes for 10 yrs. who owns the land?
Husband bought it, but died this year. I have the bill of sale. Son is trying to get it into his name but it needs to be surveyed. He is wanting to sell it to another, and now the original owner wants more money. Do they have the right to ask or take the land back?
When you say you have the "bill of sale" are you referring to the deed? If so, you may want to record it in the County Deed records. Generally the owner of the property is only recognized by the chain of title which means whomever has the last recorded deed with their name on it.
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