Skip to main content
Henry Daniel Lively

Henry Lively’s Answers

4,610 total


  • 1031 exchange and pre-nuptial agreement, capital gains tax

    My husband owned a house in his name before we got married. He now rents it. We have a pre-nuptial agreement and got married in 1992. Prior to 1999, we lived in his home. He lives with me now in a house I acquired in my name only in 1999. This wa...

    Henry’s Answer

    From your facts you do not qualify for the exclusion. A 1031 exchange or installment sale could be used to defer the gain. The exclusion requires both of you to live in the house as a principal residence for two out of the last five years.

    See question 
  • Why is not the first advise a Lawyer gives when asked about either a state or federal audit, to send a letter of Abatement

    The authority for this is 6213(b)(2): a taxpayer may file with the Secretary within 60 days after notice is sent under paragraph (1) a request for an abatement of any assessment specified in such notice, and upon receipt of such request, The Sec...

    Henry’s Answer

    This would never be the correct response in all situations. This is only an abatement as it relates to Math or clerical errors. The other attorneys are correct. This is not a one stop solution to every tax problems. There are a lot of smart tax lawyers out there and if it were they would be using it every time. Each problem needs a complete review of all facts and circumstances before a tax attorney applies the correct law and analysis.

    See question 
  • How can i stop/delay a foreclosure due to taxes

    taxes are for 2012 and 2013

    Henry’s Answer

    Depends on what kind of tax you are talking about. Assumption here is that it is for property taxes. Hire a real estate or bankruptcy attorney to work with you on this. Real estate transactions can get complicated and you should not go at this alone.

    See question 
  • Should vacation time be taxed if part of severance pay?

    I had severance pay from last employer. In that they taxed me on the regular earnings that they provided but they also taxed me on the vacation balance that I had. Had I not been laid off I would not have had to pay tax on that time or money. ...

    Henry’s Answer

    Yes, this is taxable income. Section 61 of the code says this is taxable income, unless there is an exception in the code. There is no exception for this.

    See question 
  • Can F1 visa international students working on campus open Roth or Traditional IRA?

    I am an international student on F1 visa. I am working on campus. I am wondering if it is legal for me to open an IRA account. I will be paying taxes.

    Henry’s Answer

    Based on your facts this should not be a problem.

    See question 
  • Sales and Use Tax registration in FL without SSN

    I own a company and I'm doing online retail. I wish to register for a Sales and Use tax to obtain a seller's permit but I do not have an SSN, and the application asks for it. Is it possible to get the permit without SSN?

    Henry’s Answer

    You can apply for a SSN or an ITIN for this purpose. See the IRS website at WWW.IRS.gov.

    See question 
  • How can i transfer money from my country to buy a house in New York?

    Hello everyone, I want to ask about transferring money to US to buy a house in New York. 1. My family is from Myanmar(Burma) and we immigrated to US about 6 months ago. And we are green cards holders and currently students. 2. We left our house...

    Henry’s Answer

    Attorney Givner gives excellent advise. Contact a lawyer in your local area that is familiar with these matters so that you can file any and all appropriate documents.

    See question 
  • How is a single-member LLC taxed at the state level in the state of Pennsylvania?

    I am currently thinking about opening a business, and I'm having trouble finding clear information about the tax liabilities on the state level. Would an LLC that elected to be taxed as an S-Corp. have to pay the 9.99% corporate tax, then pay the ...

    Henry’s Answer

    A single member LLC is treated as a disregarded entity at the Federal level for Federal purposes. This is because it takes two to be a partnership. This is not the case at the state level. A disregarded entity still has to pay the state Franchise tax. Most states do this because they do not want to lose any fees from a disregarded entity that is formed in their state. If you elect S-Corp status you are creating another form of pass-through entity. This entity would not be responsible for the state level corporate taxes, but the income would pass-through to your personal return and you would pay individual income tax rates on that income.

    See question 
  • Bad collection practices in recovery of a Tax Liability. What kind of attorney do I need?

    I have a collection letter from Pioneer Credit Recovery who appears to be collecting delinquent taxes in behalf of NJ. The amount stated on the letter is different than what the state website says I owe (I have printouts of both), the letter refe...

    Henry’s Answer

    This is a technical matter and I believe you should hire an attorney familiar with these matters to assist you. Attorney Zelinger is familiar with this company and with tax matters. You should give him a call.

    See question 
  • Forged tax return checks

    My ex husband received two tax refund checks made payable to both of us and forged my signature. Can I go to his bank and get a copy of the checks with my forged signature for court?

    Henry’s Answer

    I agree with attorney Harkess, you will need to at a minimum get a subpoena to get access to these records. If you are working with an attorney, they should be able to do this for you.

    See question