John P Fazzio III’s Answers

John P Fazzio III

Mahwah Foreclosure Attorney.

Contributor Level 16
  1. Taxes were taken out of my husbands pay check every week, we find out that the IRS was never paid. How can we clear this up?

    Answered 10 months ago.

    1. John P Corrigan
    2. Anastatia Quirk Ellis
    3. Steven M Zelinger
    4. John P Fazzio III
    4 lawyer answers

    You may have a very serious problem on your hands. First, it is unclear whether your husband owes taxes for unpaid income tax, or for unpaid employment taxes, or both. As a partner, he would be a responsible person for unpaid employment taxes that should have been withheld from both partners pay. You need a tax lawyer. The district attorney won't be much help here. This is an IRS issue and that lien will not be removed until something is worked out with IRS. You should get a tax attorney...

    3 lawyers agreed with this answer

  2. Civil matter pro se litigant

    Answered over 1 year ago.

    1. Stephen Richard Markman
    2. John P Fazzio III
    3. Susan Pernick
    4. Michael T. Graves
    4 lawyer answers

    You are correct that you have 30 days from entry of the decision to file a motion to re-argue under CPLR 2221(d)(2), but this only applies so long as the decision was on a motion of one of the parties. I've attached a decision for your review that discusses the applicable legal standards. I hope this helps.

    3 lawyers agreed with this answer

  3. I'm receiving workers compensation benefits and was baby sitting for 7months can i file income taxes?

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Dana Whitney Atchley
    3. Charles Joseph Michael Candiano
    3 lawyer answers

    I agree with Mr. Candiano. Under Federal Law, (IRC Sections 104-106) any payments in the nature of damages received for injury to the person, under worker's compensation, health insurance, or through a court award, are excluded from your Gross Income. In layman terms, you don't owe tax on the Worker's Comp.

    3 lawyers agreed with this answer

  4. I live in a house that is in my ex husbands name. He hasn't paid the mortgage in 3 years,.

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Ksenia V Proskurchenko
    3. Adam Lefkowitz
    4. Diane L Drain
    4 lawyer answers

    You may be getting an eviction notice if the foreclosure was completed and the bank now owns the property. After 3 years, that is a real possibility. You really need to know the status of your foreclosure matter. Has the bank filed a Complaint? Did they get Summary Judgment? Have they filed for or completed a foreclosure sale? The answers you seek are in the paperwork, which may be in your husband's possession. This is a complex issue and you really need a local attorney to guide you...

    3 lawyers agreed with this answer

  5. Minimizing Tax Impact on Member-Managers in Converting from a DE LLC to DE C-corp

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Jeffrey Mead Kurzon
    2 lawyer answers

    This is a complicated question. As you must already be aware, the 83(b) election must be made within 30 days of the stock purchase date. Whatever you do, you want to make sure you do not miss the window for making that election. You have a few options on the conversion, but by far the most common choice would be to create a Delaware C-Corp and merge the LLC into the Delaware C-Corp. To structure the transaction to avoid tax, there must be a pro-rata distribution of C-Corp shares to the...

    3 lawyers agreed with this answer

  6. Does a husband have a legal right to see his wife's income tax files for prior years since they have been married.

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Jayson Lutzky
    3. Evan A Nielsen
    3 lawyer answers

    In a divorce proceeding you will be entitled to the other party's financial information. During the marriage, you do not have a right to see these filings if you are married filing separately. I think it really depends on the reason why you want to see them. You may have a separate legal right that will entitle you to discovery of this kind of information, but there isn't a particularly common situation that is coming to mind when this would be required.

    3 lawyers agreed with this answer

  7. Wife passed away and wasnt filing taxes. Am I liable for her debt.?

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Evan A Nielsen
    3. Daniel Lee O'Neil
    3 lawyer answers

    It is important to know the filing status. I take it from your question that you filed your taxes between 2007 and 2011, but it is not clear. If you were filing jointly or have joint assets, you may be on the hook or the IRS/State Tax Authorities may have a lien against your assets. The facts are really critical here. If you paid the state taxes, that may actually be a positive. Given your financial circumstances (just retired and not collecting SS), you may be able to discharge any part...

    3 lawyers agreed with this answer

  8. Im disabled & collect about $1000 month SS Disabilty. I have 380,000 in a low risk portfolio that I received from an accident. I

    Answered over 1 year ago.

    1. Deborah F Bowinski
    2. Michael A. Koplen
    3. John P Fazzio III
    4. Hermin A. Dowe
    4 lawyer answers

    The payouts in your portfolio should not be taxed just because they were withdrawn from a portfolio if they were not taxable to begin with. Generally gross income does not include damages for personal injury, worker's compensation or other benefits received as a result of an injury (IRS Sections 104-106). Therefore, these amounts are likely not taxable now. The interest of course is taxable and shows up on a 1099-INT at year's end. The company who you keep your portfolio with must have...

    3 lawyers agreed with this answer

  9. Pls help me with this mortgage question.

    Answered over 1 year ago.

    1. Michael T Millar
    2. John P Fazzio III
    3. Mitchell Aaron Nathanson
    4. Ivan E. Young
    5. Michael S. Sheena
    5 lawyer answers

    It looks like you are excerpting from your mortgage or more likely your promissory note. A balloon payment is usually a payment of the remaining balance that comes due after a certain number of years. Essentially, this is a way for the lender to make you a shorter term loan. You really need to supply more information, but I suspect that the type of loan that you have is one where it was anticipated that you would ultimately re-finance. You need to read the mortgage/promissory note carefully...

    3 lawyers agreed with this answer

  10. The bank sold my mortgage loan to another company, can I move for dismissal of the foreclosure case ...

    Answered 8 months ago.

    1. John P Fazzio III
    2. Grace Mary Doberdruk
    3. Robert J Adams Jr.
    3 lawyer answers

    Generally, the transfer of negotiable paper is governed by the Uniform Commercial Code. The UCC gives two different statuses to assignees. First, is the Holder in Due Course. This is like a good faith purchaser from a dealer. The Holder takes title and is immune from predatory lending claims against the originating bank. To be a Holder, the bank must have an indorse meant of the ORIGINAL note over to it. Second, is a Non-holder in Possession Status. To achieve this status, the assignee...

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