John P Fazzio III’s Answers

John P Fazzio III

Mahwah Foreclosure Attorney.

Contributor Level 16
  1. I need help with a tax problem. I understated my taxes in 09,10,

    Answered 11 months ago.

    1. Thomas J. Wagner
    2. John P Fazzio III
    3. Robert E. Harris Jr.
    4. Terrence Jay Moore
    5. Richard Gordon Stack
    5 lawyer answers

    You need a seasoned local tax attorney who can correct any errors on your 2009/2010 taxes and ensure they are correct. Better to do this now than when an audit ensures and gross understatement or fraud penalties are on the table, or worse, criminal prosecution. Deal with this now and it will be a small problem. Bury your head in the sand and it can snowball into a real nightmare.

    6 lawyers agreed with this answer

  2. Do i have to pay past hoa dues after foreclosure if the home has already been sold to another buyer by the foreclosing lender?

    Answered over 1 year ago.

    1. Frank Wei-Hong Chen
    2. Michael Raymond Daymude
    3. John Noah Kitta
    4. John P Fazzio III
    4 lawyer answers

    Yes.

    6 lawyers agreed with this answer

  3. Am I responsible for wife's taxes?

    Answered almost 2 years ago.

    1. John P Fazzio III
    2. Sarah J Jordan
    3. Patricia Beary
    4. Christopher Michael Larson
    4 lawyer answers

    If you file Married Filing Separate, the IRS cannot come after you for your wife's tax debt. However, if you won any joint community property, a lien may be placed on that property and the IRS may come after that joint property. I do not practice in a community property state, so there may be some nuances I am not aware of. Therefore, you should consult with a local attorney on this issue.

    6 lawyers agreed with this answer

  4. Unclaimed income My brother inherited $ 60,000 when our mother died as I did. this money was from a 401 k type account and

    Answered about 1 year ago.

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

    Failing to pay taxes on 401(k) distributions is one of the most common tax traps people find themselves in. I truly don't understand why the government does not mandate the amounts automatically be paid before the proceeds are received. The 401(k) reports the distribution, so they will definitely catch up with him. He needs to figure out how much the taxes would be. If it was $60,000, I'm assuming the tax would be about $15,000. If he takes care of it before the IRS catches up with him,...

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  5. No tax refund in 5 years and my account has not advised me on anything.

    Answered about 1 year ago.

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

    It is important to try to understand why the refunds have been held. That is step 1. Your accountant should be able to get that information at least. Beyond that, fixing the problem could take a very long time. Most likely, there is some kind of lien or hold on your refunds due to an assessment on either your federal or state account. It is perfectly normal to only receive contact from the IRS every 6-8 weeks. The IRS is extremely understaffed. The Taxpayer Advocate is even more...

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  6. In New York State is Child Support considered income?

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Marian N. Sagona
    3. Matthew Thomas Majeski
    3 lawyer answers

    I agree with the other answers to this question. Child support is not income for federal income tax purposes or New York income tax purposes, but may be income for other purposes.

    Selected as best answer

  7. Does someone out there know New York State income tax law?

    Answered over 1 year ago.

    1. John P Fazzio III
    2. Jayson Lutzky
    3. Judy A. Goldstein
    3 lawyer answers

    I agree with the other answers to this question. Child support is not income for federal income tax purposes or New York income tax purposes, but may be income for other purposes.

    Selected as best answer

  8. Can I contest a foreclosure complaint after filing Chapter 7 Bankruptcy?

    Answered over 1 year ago.

    1. Bruce C Truesdale
    2. Robert N Braverman
    3. Marc Charles Capone
    4. Steven R. Neuner
    5. John P Fazzio III
    5 lawyer answers

    Let me break this all down for you. The Bankruptcy puts a "stay" in place that stops all other proceedings. That means that neither you nor the bank can move the foreclosure process forward. You would most likely want to wait until you see how the Bankruptcy turns out before answering the Complaint. But, by all means, hire an attorney and get your Answer ready. You'll also want to be prepared because the foreclosure attorneys are likely to prepare a Motion to Stay Foreclosure in the very near...

    4 lawyers agreed with this answer

  9. Fraudulent foreclosure NYC by international bank with violations of US laws-& list long enough to fill LAW SCHOOL TEXT BOOKS

    Answered almost 2 years ago.

    1. Eric Edward Rothstein
    2. John P Fazzio III
    3. Jonathan H Levy
    3 lawyer answers

    Judges are unlikely to penalize a bank for foreclosing, despite the existence of violations (no matter how many) unless the case is extremely well developed (multiple depositions, extensive discovery, months/years of document exchanges and motion practice), and even then, most judges will be extremely hesitant to do so. The reason is that regardless of the violations, if you are in foreclosure, meaning you are a foreclosure defendant, by definition you are not paying. If all these violations...

    4 lawyers agreed with this answer

  10. Old state taxes in chapter 13

    Answered almost 2 years ago.

    1. Ronald Joseph Kim
    2. Mark Markus
    3. Steven Anderson Leahy
    4. John P Fazzio III
    4 lawyer answers

    Everyone who has responded to your question has set out the proper analysis. You indicate that you filed your tax return for 2008 on time, meaning that you filed it by April 15, 2009. If that is the case, you can discharge the taxes in your Chapter 13 plan. The Trustee may or may not confirm a discharge of the taxes and it really depends, in part, on how good your Chapter 13 plan is otherwise, what your ability to pay the various debts you owe is, and whether New York State is concerned...

    4 lawyers agreed with this answer

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