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Free answers to tax questions from Gabriel Krikunetc

Do I have to pay FTB fees?

Hello, I was wondering if someone can help me with this. I started a corporation in 2014 and since then have accumulated fees to the Franchise Tax Board when I didn’t understand better. I did not do anything with the business, and I owe around about 4k in back fees. I realize that the corporation owes that money and it'll keep going up annually. The corporation is now frozen because of back fees. What should I do? I really can’t afford to pay. What can the government do to me if I only do pay? Can they take my personal things? If one day I decide to start a small business, will this change my company in the foreseeable future? So what can happen to somebody who doesn’t ever pay, and what're stuff I can’t do if I just let the taxes develop on the corporation that is suspended? 
A: It is best to consult with a local lawyer in private and give them trades and all the facts and get a certain advice and plan of action with respect to your personal culpability or lack thereof. Generally, if a corporation is established properly and complied with the state law, is considered a separate legal entity and its particular responsibility shouldn't create personal liability for its stockholders. The advice presented herein is for general purposes only. It may not be construed as legal, tax or accounting advice, and is not intended to. Neither is it intended for solicitation purposes. For specific advice, please consult an appropriate lawyer in person. Good luck. Zaher Fallahi, Business and Tax Lawyer, CPA. 

Property has been sold for taxes, Im not able to pay the taxes back by the redemption period how long do I have to stay?

Redemption interval is 9/21/2016 my dad's property he moved. Im still there, filed chapter 7 discharged May 2015. 
A: If you never have already done so, you ought to get in touch with a lawyer at once.

What is the proper way to handle a buyout of another  person's share of a house inherited through a trust?

If two individuals inherit a Calif. house and some cash (from a trust) and they agree that one of them will buy out the other's interest in the house, how will that transaction be managed and taxed. There is insufficient cash in the bequest to use to offset the buyout, therefore it'll demand a personal check from party A to party B to compensate them for their share. Because the home was inherited at present market value and for that reason no taxes due would this be a sale at zero value? Could the trustee (and beneficiary - Party A) who will be doing the buy out merely transfer ownership of the property directly to herself and write a private check to the other party, or what are the proper measures? I know the government will be challenging a big check composed to a different person. Would a personal check to the other individual then produce a taxable event instead of an inheritance for them? (So much red tape, so little time.)
A: It recorded with the county and should be handled like any home purchase through private parties, in writing. Get in touch with a CPA or tax attorney re: your tax questions. The best first step is a First Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website. I practice law in CA, NY, MA, and DC in the following areas of law: Criminal Defense, Divorce & Child Custody & Contracts, Company, and Education Law. This response doesn't represent legal advice; make warranties, guarantees, or any predictions; or create any Attorney-Client relationship. 

MY child support is in Florida and I live in another state can child support still take my income taxe money arrears?

And additionally I don't comprehend how a state can take federal money from me
A: Check with one or a FL attorney in the state where you now live. The best first step is an Initial Consultation with an Attorney. This response does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.

Tax Law Questions & Answers :: Justia Ask a Lawyer

What can I do about the irs? First they say I owe back taxes, then I don't, now I do. Please help!

On another leaving me in debt to the IRS for about 50k, innocent partner filed after finding my ex did not claim income for one year and made a huge mistake. I received a letter that there clearly was no tax owed for one of the other year along with these years I was relieved of any obligation. I've yet to receive any kind of notice in the email regarding this debt owed, only told over the telephone (when I call) that I owe this 20k. I've asked for a bill to be sent and have gotten nothing. They keep my tax refunds. The woman on the phone today told me if I actually don't set up payment arrangements, they are likely to begin levying my wages. But I got a letter saying nothing but over the telephone they say I owe!? What do I do?
A: Get in touch with an enrolled agent or a tax attorney as soon as possible. In the event you are considered a low income taxpayer, you can seek help with a Low Income Taxpayer Clinic in your own state. You can also try the Taxpayer Advocate. You need help immediately in the event you are at the garnishment period.

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I received a "Notice of Intention to File an IRS 1099-C Form"

This notice was from a CA law office who said it absolutely was the legal owner of the debt (not representing a client). There was 1099C form for an 2017 event comprised, together with a settlement offer. A report filed together with the State Attorney General immediately to be wise. I just moved to OH from MI, along with the letter was forwarded from my MI address. The account was supposedly charged off in 1999. I have already been questioning this account for years, also it keeps bouncing between collection agencies. The account never existed, and the first lender has no knowledge of the report. I was contacted about the debt in the centre of last year by another collection agency, whom I challenged it with. Prior to that, I discovered nothing for years. My understanding is that the FDCPA does not consistently apply to this situation, although I'm prepared to send a letter of dispute to this law office. Any guidance on the next steps would be greatly valued! Thank you.
A: It is time to involve a tax lawyer. A 1099-C is a form filed by a lender when they cancel a debt. The cancelled debt is considered taxable income by the IRS. You could be about to get a huge tax bill.

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