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Virginia Tax Law Questions & Answers
1 Answer | Asked in Tax Law for Virginia on
Q: how do i install an installment agreement for the payment of taxes ?
D. Mathew Blackburn
D. Mathew Blackburn
answered on Mar 28, 2019

You'll need a Form 9465, 433F, and 433D.

Fill those out and follow the instructions for submission.

https://www.irs.gov/payments/payment-plans-installment-agreements

There's a online submission process. It rarely works properly.

1 Answer | Asked in Tax Law for Virginia on
Q: any tax advantages to have a old cemetery on property.
Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Mar 27, 2019

Probably not--especially if the property owner has no income from the cemetery and no expenses related to it. If the owner is paying state or local property taxes on the entire piece of property containing the old cemetery they may want to look at prorating the R/E taxes attributable to the... View More

1 Answer | Asked in Tax Law for Virginia on
Q: I own a house in VA that I have rented out. Now I moved back in and want to sell. Do I owe extra taxes?
D. Mathew Blackburn
D. Mathew Blackburn
answered on Mar 27, 2019

You'll have to calculate depreciation recapture on the conversion from business to personal property and pay ordinary income taxes on the recapture. The you'll pay capital gains taxes on the gain on sale. Unless you qualify for the personal residence exemption. It's hard to say... View More

2 Answers | Asked in Tax Law for Virginia on
Q: I need to repay the IRS for having excess income related to the ACA financial guidelines. See below for more info.

I am finding it difficult to locate an attorney with direct experience in that area. How do you best search for a lawyer who has such focused experience ? I live near Front Royal/Winchester but travel to Northern VA frequently.

Background: I have been unemployed for several years and had... View More

Linda Simmons Campbell
Linda Simmons Campbell
answered on Jan 4, 2019

Any good tax attorney should be able to advise you as to the best way to resolve your liability. You have a few options available to you. Stay away from the places you see advertised on tv. Because this is a federal tax issue you can contact a tax attorney anywhere in the country for help. Most... View More

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1 Answer | Asked in Civil Litigation, Contracts, Mergers & Acquisitions and Tax Law for Virginia on
Q: I have recently been robbed of my gift tax inheitence. I have retrieved documents from the tax department recently.

my exhusband forged my documents in 2013. he altered the employer id number and stole the financials using the incorrect years to file them and sold it to google for an award. in 2017 my devices kept having all these wierd things coming up. i just thought it was spam. next thing i know i seen an... View More

F. Paul Maloof
F. Paul Maloof
answered on Dec 23, 2018

This sounds like a criminal case. You need to call the federal or state prosecutors to make a complaint. I do not handle your type of case. Sorry.

1 Answer | Asked in Tax Law for Virginia on
Q: All of my Mutual Funds ans stock accounts are held jointly with my wife. If a die, what are the tax consequences?
Eric  Day
Eric Day
answered on Jul 18, 2018

If your wife takes over the account at your death, there will be no tax consequences other than the annual tax consequences of the trading activity within the account. You can pass your estate to your wife tax free.

1 Answer | Asked in Tax Law for Virginia on
Q: What is a Tax Ievy deduction on my paystub?
Linda Simmons Campbell
Linda Simmons Campbell
answered on Mar 26, 2018

It could be a tax levy. Ask your payroll department. If it is a tax levy, contact an attorney for assistance. Just stay away from the places you see advertised on tv.

1 Answer | Asked in Real Estate Law and Tax Law for Virginia on
Q: Can a county increase real estate taxes based off MLS?

Our real estate taxes increased $214,000 for 2018 - a 45% levy change. We purchased a farm in 2017 that was tax assessed at $548,900 and they now have assessed it at $762,800. We purchased it for $735,000. Their justification was seeing the MLS and the pictures, so they knew of the improvements.... View More

Richard Sternberg
Richard Sternberg
answered on Feb 14, 2018

You'll have an uphill battle as to using the sales price for the re-appraisal. Many jurisdictions do exactly that, and the fact that you paid $735,000 is going to make it fairly difficult to argue that it isn't worth $735,000. You might have a better shot reversing the $762,800, but you... View More

2 Answers | Asked in Tax Law for Virginia on
Q: Can a college I never attended put a hold on my tax return?

2010 I went to a college to get info on classes. I saw the prices & instantly left. They unknowingly enrolled me. Nothing was signed by me, no oral contract, never applied for fasfa. The following year on my credit report the school sent me to collections for a semester of classes. I went to... View More

Michelle D. Wynn
Michelle D. Wynn
answered on Feb 8, 2018

You should dispute this item on your credit report with Equifax, TransUnion, and Experian. The Federal Trade Commission has a web page with instructions on Disputing Errors on Credit Reports that can provide you with information on how to dispute this item on your credit report. You can find the... View More

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1 Answer | Asked in Tax Law for Virginia on
Q: Ex husband has primary physical custody of kids but I had kids full time first 10months last year. Who claims on taxes?

We have nothing in our separation agreement stating who claims the kids. The primary status is because he has them 4days of the week I have them the other 3 days of the week.

Michael Christopher Miller
Michael Christopher Miller
answered on Feb 5, 2018

In the absence of an agreement, the IRS rules of dependency/exemptions will apply.

1 Answer | Asked in Tax Law for Virginia on
Q: Can I claim my children on my taxes being that I pay 100% of the child support that should be shared between parents?

She lives in FL and I reside in Va she doesn't work, but somehow wants to claim my 2 children, she also is married and has 2 other children which the husband claims, Is there anything I can do to make this fair since she refuses to let me claim any of them?

Matthew Lane Kreitzer
Matthew Lane Kreitzer
answered on Jan 25, 2018

There are limitations the IRS has placed on the ability to claim a child as a tax dependent. This is information that you can obtain by speaking with a CPA.

1 Answer | Asked in Military Law and Tax Law for Virginia on
Q: Military member stationed in Virginia, looking to buy a home. Will I have to pay state income tax if a resident of NY?

Resident of NY, stationed in Virginia due to orders. Looking at purchasing a house in Virginia. Will I have to change residency if I purchase the home and pay Virginia income tax?

Michael Christopher Miller
Michael Christopher Miller
answered on Jan 23, 2018

50 U.S. Code § 4001 - Residence for tax purposes

(a) Residence or domicile

(1) In general

A servicemember shall neither lose nor acquire a residence or domicile for purposes of taxation with respect to the person, personal property, or income of the servicemember by reason...
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2 Answers | Asked in Child Custody, Child Support and Tax Law for Virginia on
Q: If the judge grants a split between parents for tax return with 2 kids. What Can be done if a parent files for both.

The judge said this verbally, and didnt document the decision.

Matthew Lane Kreitzer
Matthew Lane Kreitzer
answered on Jan 21, 2018

Unless it is in a court order, it is hard to enforce such provisions. If the judge forgot to put it in a court order, this can typically be corrected with the proper motion. To file such motion, hire a lawyer.

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1 Answer | Asked in Real Estate Law and Tax Law for Virginia on
Q: Is it make sense to have rental property lease on LLC name even though rental prop. title is only owned by me not LLC?

I own a rental property and have opened LLC so need advise to have lease on LLC or not? Whether it would help me from Liability issue?

Richard Sternberg
Richard Sternberg
answered on Jan 17, 2018

You really need to shut down with a lawyer to review the facts. I personally rent a second home of mine out in my own name, but that is probably a bit of the cobbler's children having no shoes. Many suggest that it is best to use an LLC as the leasing agent, so that you increase your... View More

1 Answer | Asked in Tax Law for Virginia on
Q: Want to retire (55) now have a Portable pension my hubby and I owe IRS 11K have an installment in place will IRS take?
Linda Simmons Campbell
Linda Simmons Campbell
answered on Nov 14, 2017

If you are on a full pay installment agreement you should not have any problems. If you are on a partial payment installment agreement, they may take some/all of the pension.

1 Answer | Asked in Tax Law for Virginia on
Q: i have a photography business

i have a photography business and recently became LLC at beginning of the year. I dont understand or know if i am a pass thru entity and i dont know when / how often I am supposed to pay my sales tax. Before this i was sole proprietor and it was all much easier to understand

Matthew M Montoya
Matthew M Montoya
answered on Mar 27, 2017

Single member LLCs are still taxed by the Federal Government as sole proprietorships by default. Unless you make an election to be taxed as a corporation, nothing really changed on the federal level. Even if you were a state sole proprietorship, you would still have state sales tax to worry about... View More

1 Answer | Asked in Employment Law and Tax Law for Virginia on
Q: If I owe the IRS unpaid taxes, should I call the IRS to work out this issue myself or should I hire a tax attorney?

I just received a letter from the IRS for unpaid Federal Taxes. I was awarded a settlement from my former employer. Should I contact the IRS myself on this issue or should I hire a Tax Attorney to do this for me? I believe that the entire amount of the settlement should not be taxed, or possibly... View More

Matthew M Montoya
Matthew M Montoya
answered on Mar 18, 2017

Settlements can be tricky because they have to be closely read to determine the proper tax classification of each item. That said, many taxpayers can choose to try to handle issues with the IRS on their own. There is certainly a wealth of information available through the IRS publications,... View More

1 Answer | Asked in Business Law and Tax Law for Virginia on
Q: If a foreign-based company I own earns income but does not pay any dividends back to me, do I still owe US taxes on it?

I am a US citizen (in the state of Virginia) considering opening a business in Estonia, since I was approved as an Estonian e-resident recently. In Estonia, profit retained within a company for re-investment is taxed at 0% and is only taxed at the normal Estonian corporate tax rate when dividends... View More

Brian Lehman
Brian Lehman
answered on Jan 13, 2017

Definitely find a lawyer who specializes in this area. You don't want to try to guess with taxes. If you need a referral, feel free to contact me. Also, I found this white paper which you may find helpful in understanding the issues from a broad view: https://fas.org/sgp/crs/misc/R40623.pdf

1 Answer | Asked in Tax Law and Workers' Compensation for Virginia on
Q: is a workers comp settlement taxable income by the irs
Jerry Lutkenhaus
Jerry Lutkenhaus
answered on Nov 7, 2016

Virginia Workers compensation payments whether received on a weekly basis or in a lump sum settlement are not taxed by the IRS

1 Answer | Asked in Tax Law and Mergers & Acquisitions for Virginia on
Q: What constitutes voting shares in the eyes of the IRS?

In matters pertaining to 26 U.S. Code § 368 - Definitions relating to corporate reorganizations, I am looking for a clear definition of what constitutes "Voting Shares" when contemplating a Reverse Triangular Merger (RTM) as a means of acquiring a business.

Situation:

I... View More

Sean R Hanover
Sean R Hanover
answered on Oct 12, 2016

Great question! In answer, a "voting share" refers to a class of shares, the possession of which entitled the bearer to vote on matters related to the corporation or organization. As such, you need to look at the corporate charter, or depending on the structure of an LLC, the operating... View More

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