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John P Fazzio
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John Fazzio’s Answers

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  • Is FBAR reporting for 2014 linked to residency status in that year only?

    I was a non resident alien last year (2014) (arrived in US end of last year) and do not become resident by substantial presence test till mid way through this year; I think the middle of June 2015. Do I have to file details of my foreign bank acco...

    John’s Answer

    You should be filing in 2016 (by June) for 2015, the year you obtained residency. The penalties are stiff for a mistake. Hire a local Tax Attorney or CPA fluent in FBAR filings to make sure you get it right.

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  • I want to find out if I can claim all PSS (made to 3rd parties) as deductn in 2014 - a written agremt was only signed in sep'14

    Legally separated in May 2012. I cont'd to made mortg, utilities, phone, other bills related to former residence where she lives, even though we had no written agreement in place. We divorced in Apr 2014 and a written PSS was put in place by the c...

    John’s Answer

    You should be able to claim them if paid for alimony. You should be able to take the deduction, or rather exclude the amounts from your income. All the facts need to be analyzed and you need to consult a local accountant or tax attorney. Sep. 2014 agreement should relate back to when you divorced/moved out.

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  • I received a CP53C notice from the IRS today what is this and what is being reviewed

    I received a CP53C notice from the IRS today and when I called they tell me it was initiated after my direct deposit was rejected by my bank because my account was closed and my wifes name wasn't on it. I used a old account number by mistake. when...

    John’s Answer

    They couldn't process your direct deposit so they will send you a check. You should still get your refund. Call the IRS and check on the refund again.

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  • If I made more money this year but my husband still was out of work will the IRS still take more if I was granted injured spouse

    I filed injured spouse last year and only like 10 percent went to my husband back child support even though he didn't work and then again this year no work.......:( The custodial parent claims the kids and is well aware of the situation and isn't ...

    John’s Answer

    I'm confused by your question. If you made more money you will owe more taxes. Your prior innocent spouse status won't change this. Any child support paid is still income. You may be able to claim your brother as a dependent. See a local accountant or tax attorney.

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  • I am on SSDI, and became an executor of an distant relatives estate. I receive a % the 1099 was put on income instead of misc.

    The lawyer refuses to fix or solve the problem. The CPA I have talked to, has filed an extension but all my request to lawyer has gone unanswered. I'm running out of time. What can I do. Please help me. My income cannot be cut due to an unwilling ...

    John’s Answer

    Again, you need to consult your Disability Attorney. The tax issue will not get resolved in all likelihood until after return is filed.

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  • I am on SSDI, and became an executor of an distant relatives estate. I receive a % the 1099 was put on income instead of misc.

    The lawyer refuses to fix or solve the problem. The CPA I have talked to, has filed an extension but all my request to lawyer has gone unanswered. I'm running out of time. What can I do. Please help me. My income cannot be cut due to an unwilling ...

    John’s Answer

    If there is an improper 1099, you will have to dispute it after the return is filed. It is not clear from your post why the 1099 is reporting as income.

    From an SSDI issue, you need to talk to your Disability Lawyer to find out what to do to avoid having benefits cut for a mistake.

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  • Question about social security numbers and Texas Driver's Licenses?

    If someone from Mexico has a valid social security number in the U.S., should they be able to obtain a valid Texas Driver's license as well? Or is it possible to have a valid social security number, and still be restricted from obtaining a license...

    John’s Answer

    I don't know what the one has to do with the other. There are separate requirements for a Social Security Number and a Driver's License.

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  • If I sell a home within 12mo of purchase do I get hit with more tax than after 12mo? (bought a tear down, built new, ground up).

    Home is in Seattle. thank you

    John’s Answer

    No. This 12 month timeframe has no relevance under the tax laws.

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  • What is the California Long Term Cap Gain Tax rate? Can you please break down for me the scale, based on amount of cap gain.

    The cap gain will be from sale of an inherited house. The house is a long term cap gain, for Federal purposes. I would assume it would then be long term cap gain for state. Can you please provide how CA cap gain tax is broken down ie ...

    John’s Answer

    You need to consult a local tax attorney and show them all of your tax information for the year. The manner in which you have framed the question doesn't supply enough information for it to be answered.

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  • I receieced tax interception , doc from san bernardino, ca for past due cash aid over pmt amt from previous.yrs.

    can they intercep my state refund if i havnt gone to to court yet?

    John’s Answer

    • Selected as best answer

    Yes, if they have an assessment, they can intercept your refund.

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