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Taylor L. Randolph
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Taylor Randolph’s Answers

14 total


  • Filed Bankruptcy in 2010. Rec'd 2 1099-A's in 2012. IRS liability is 70,000 Is there a program to reduce debt disabled person.

    I am a disabled veteran. We filed for BK and home was foreclosed in 2010. We rec'd 2 - 1099a's in 2012. Is there a program that will reduce the amount owed to I.R.S. Also can a 1099-A be converted to a 1099-C

    Taylor’s Answer

    You'd want to seek a CPA that can file the return and include a Form 982. This is an information form that tells the IRS this is non-taxable income. Really common these days! Good luck.

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  • What type of taxes will I pay on a sale of a second home?

    House was purchased for 25,000 and sold for 135,000. 1. Will I owe any taxes on my share (1/2)? 2. Am in the lowest tax bracket. 3. If I pay my second off (primary home) with part of the profit will that reduce my tax burden?

    Taylor’s Answer

    This answer is only for the federal taxes. The answer hinges on if this was ever your primary home for 2 of the last 5 years. If so, you should be able to not include this as income. If not, then this might be taxable income that you would need to treat as either short term or long term gains, depending on how long you held the property.

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  • Our mortage company part of the Independent Foreclosure review. We would like to take legal action against them.were do we start

    We would like to take legal action against the mortgage company we had that really screwed us during a loan modification. Were do we start? would it be worth the time and money to do this. When we went into the foreclosure process we always got...

    Taylor’s Answer

    These are all great questions, but really can't be answered by any attorney outside your specific state. You should consider seeking help from a local attorney. Maybe call the state bar. It's clear to most that many lenders have acted improper during this mortgage crises, so you may have a good cause of action. Good luck!

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  • Foreclosure Auction scheduled for May 31, too late to do anything?

    Do I have any options? If so, what they? If not, what happens at/after the auction? Do I have to get out? What would Attorney fees be for this?

    Taylor’s Answer

    Look, time is running out. I'm not licensed in CT, but you should seek an attorney there. You might call the state bar for help in obtaining a referral. It also depends on your objectives, you might seek bankruptcy to hold off the sale or as a tool to keep your property. There are too many factors, so it's best to get local counsel.

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  • My house has a foreclosure sale date in 7 days however, in looking over the foreclosure paperwork sent by the lawyers

    For the mortgage company, I've discovered they are including a 12.5 foot strip of property I bought from my neighbor several years after the original loan was taken out and I paid cash for. Would this be grounds for a delay of the sale date? How c...

    Taylor’s Answer

    You need to contact a local UTAH attorney with this matter. Some state laws consider joining property owned by one person to be considered the same property. Regardless, you should seek an attorney who may consider a suit and putting a lis pendens on the land to stop the sale. I clearly am not Utah licensed, but you need to seek legal help! Your facts may be good enough to simply push the sale off, good luck.

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  • If i provide insurance for my child in a 50/50 timeshare agreement is it mandatory to rotate who claims the child for taxes.

    im in the process of my divorce and this is one of my concerns for the future. why if i pay for insurance would i have to rotate claiming my son. is this standard or negotiable.

    Taylor’s Answer

    Generally the divorce decree will determine this issue and the IRS will follow the order. This area is a facts and circumstances test, dealing with time with the children, income and similar matters.

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  • I did my taxes with Liberty Tax Services, and because of his reaction while completing them, I went to H&R Block for a free

    second opinion. Instead Debra Harry turned it in as if she did them and a year later still asking them where is my refund. The IRS even told me that it was deposited to them, but yet they denied the claim, until finally someone was willing to take...

    Taylor’s Answer

    You may consider getting a tax payer advocate to help with this issue. You file a form 911 with the IRS found at IRS.gov.

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  • Willthe Mortgage Forgiveness Debt Relief Act be Extended to beginning in 2015?in what order should u do a bankruptcyandshortsale

    What guarantee do I have, if I apply for bankruptcy, that I will be foreclosed on? Will it ever happen? If I do a bankruptcy, can I be denied a short sale because they want me to reaffirm a debt in order to proceed with the short sale? Also, If...

    Taylor’s Answer

    If you're considering short selling your property, you can do this on your own, but it's best to seek a law firm that has close ties to a real estate agent. The lender can still deny you a short sale, but the good news is you're not worried about a waiver of liability. However, you still need to consider tax laws and if this is your primary residence or a rental.

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  • Can Department of Treasury legally garnish my wages for a 13 year old debt even after I filed a no-asset chapter 7?

    I was discharged from the military 13 years ago. I filed no asset Chapter 7 which was discharged in 2011. In 2012 I received a letter from DoD stating I owed $1800 for military overpay and under-collection of svc member's group life insurance fro...

    Taylor’s Answer

    Check Michigan rules, but military overpay is generally not dischargeable debt in a chapter 7.

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  • I am wanting to get all the information about my foreclosure from the bank and any other place. How do I go about doing that?

    I also tried to go through NACA, do I contact them also?

    Taylor’s Answer

    Yes, use NACA for help, but also call the Foreclosing Trustee. They are required to help. The lender should direct you to that number.

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