If it helps you to feel better, there are thousands of small cities all across America where affluent people live or own property that end up paying more in all kinds of taxes than do the poorer people living in less-affluent areas of the same county. This is a political issue between the town of... View More

No.

The definition of real estate is land. If something is built on the land, it is developed real estate.

The IRS has a motto: "We've got what it takes to take what you've got".

Practical response: IRS has filed a lien on property; the Owner sells it to Buyer and Buyer pays Owner cash. IRS isn't paid. The lien remains on the property and IRS can file a suit to take... View More

Based on the statute you cited, this timing may be correct. The statute 58.1-3965 also states that you may be able to work out a deal with the local treasurer to pay off the delinquent tax balance over a period of up to 36 months. You should contact the local treasurer ASAP to try to work out a... View More

With no tax elections and no partners the LLC will be reported on Sch C.

The rental should be reported on Sch E if not actively managed or Sch C is actively managed.

If you put the rentals in your LLC you still file them on C or E based on active participation.

The... View More

The IRS does not allow both parents to claim an exemption for the same child. Your child custody agreement should tell both of you who is entitled to claim your daughter; some parents rotate each year; others allow one or the other to claim the child. If you have some written proof that you earned... View More

The Department of Education did not violate any laws by taking your IRS refund check as partial payment on your federally insured student loan. Regardless of whether or not your rehab program is up-to-date, the fact remains that you are still in arrears on the student loan debt. Additionally, since... View More

Yes. Try looking at it this way: If an elderly parent gives the adult child $30,000 in cash, that gift would have to be reported as a gift--on both returns. The same rules apply to savings accounts, or any other gifts.

As in all states, there is an administrative appeal process available in Virginia to allow you to challenge the Virginia assessment; it does not require a lawyer. However, it is usually best to pay small tax assessments rather than try to challenge or litigate them. The law even has ancient advice... View More

Spouses in Virginia can enter into enforceable marital agreements under Virginia Code Section 20-155 of the Virginia Premarital Agreement Act. These agreements take different forms, including prenuptial agreements or antenuptial agreements, marital agreements, separation agreements, stipulations... View More

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.

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

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

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

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.

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.

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.

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

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