Skip to main content
Eliz C A Johnson

Eliz Johnson’s Answers

2,100 total


  • Can I file a suit against my tax preparer for all and any money he has cost me due to filing late or not filing at all?

    I have had the same tax preparer for years, now after having a levy on my wages I have discovered that my taxes have either been filed late or not filed at all.I had to hire a tax debt solution team to get the levy lifted and now I find out that m...

    Eliz’s Answer

    Denise, WADR, how do you NOT know your returns did not get filed? You have to sign them and send them in with your check before 4-15 of each year. If you did not receive a return, you did not file one then and would have known that. The IRS, as you have found out, does not care that your preparer did not do the job [it does not change your liability] because the ultimate responsibility is yours. You need to understand this to avoid this same problem in the future. You need to fully understand your responsibility to protect yourself.

    Litigation may be possible but it is very expensive, time consuming and rarely will result in what you want. Good luck to you.

    See question 
  • Regarding handwritten will, Is it mandatory that the type of stocks be defined or can It just say "all stock" ??

    My husband wrote a holographic will and had it notarized and witnessed, It looks perfect except It says "all stock" goes to my wife versus "band Z stock" goes to my wife

    Eliz’s Answer

    Precisely. Stock splits and other is purchased over time and this covers all stock.

    See question 
  • What can I do if attorney has not sent me my check?

    My uncle's estate of which I was the 50% beneficiary was recently closed and a refund from the IRS was supposed to be split between me and the other beneficiary. The other beneficiary has received their half and I mailed my attorney my signed docs...

    Eliz’s Answer

    If it has been a long time, beyond reasonable, in California we would contact the State Bar Association. One call from them should get your check to you immediately.

    See question 
  • I did a deed in lieu on our home and the bank forgave 74,000.Now we found out we have to pay the taxes on that amount

    We have to pay the taxes like it is income and we do not know how much that will cost my husband and myself live on a soical security income of 27,0000 a year How much will they amount be we will have to pay to pay on this Added together that is 1...

    Eliz’s Answer

    If your lender cancelled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012.

    Here are 10 key facts from the IRS about mortgage debt forgiveness:
    Cancelled debt normally results in taxable income. However, you may be able to exclude the cancelled debt from your income if the debt was a mortgage on your main home.

    To qualify, you must have used the debt to buy, build or substantially improve your principal residence. The residence must also secure the mortgage.

    The maximum qualified debt that you can exclude under this exception is $2 million. The limit is $1 million for a married person who files a separate tax return.

    You may be able to exclude from income the amount of mortgage debt reduced through mortgage restructuring. You may also be able to exclude mortgage debt cancelled in a foreclosure.

    You may also qualify for the exclusion on a refinanced mortgage. This applies only if you used proceeds from the refinancing to buy, build or substantially improve your main home. The exclusion is limited to the amount of the old mortgage principal just before the refinancing.

    Proceeds of refinanced mortgage debt used for other purposes do not qualify for the exclusion. For example, debt used to pay off credit card debt does not qualify.

    If you qualify, report the excluded debt on Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. Submit the completed form with your federal income tax return.

    Other types of cancelled debt do not qualify for this special exclusion. This includes debt cancelled on second homes, rental and business property, credit cards or car loans. In some cases, other tax relief provisions may apply, such as debts discharged in certain bankruptcy proceedings. Form 982 provides more details about these provisions.

    If your lender reduced or cancelled at least $600 of your mortgage debt, they normally send you a statement in January of the next year. Form 1099-C, Cancellation of Debt, shows the amount of cancelled debt and the fair market value of any foreclosed property.

    Check your Form 1099-C for the cancelled debt amount shown in Box 2, and the value of your home shown in Box 7. Notify the lender immediately of any incorrect information so they can correct the form.
    You can also use the Interactive Tax Assistant tool on IRS.gov to check if your cancelled debt is taxable.

    See question 
  • If my husband died, would the mother of his other minor child, have an interest in our home and other assets we own?

    *Husband has no arrearages in his child support *We have a child together as well *There is no will in place *Child support for his other child remains in effect for 6 more years *We live in Texas, a community property state. *Mostly concerne...

    Eliz’s Answer

    You know even as you write your post that you have to have an estate plan in place. The lack of a will or trust can cause huge problems, especially with children from a prior marriage or relationship. His prior children are entitled to a share of his estate but their mother would not. See at attorney with him today to protect yourself. In your area, look for an AVVO attorney, or call:
    J. Brian Thomas
    3412 Cole, #124
    Dallas, TX 75204
    Office: 817-937-3789
    Fax: 214-593-4645
    http://www.avvo.com/attorneys/75204-tx-james-thomas-97449.html

    Good luck
    --
    Eliz. C. A. Johnson
    JOHNSON LAW FIRM
    johnsonestateplanning.com
    Post Office Box 8
    Danville, California 94526-0008
    925-362-1010-v
    925-362-1015-f
    thepracticeoflaw@gmail.com OR
    elizabeth@johnsonestateplanning.com

    See question 
  • Is there any thing I can do to about probate hearing on my grandmothers will that I believe to be tampered with

    My papers say I was not I will and my aut and her kids are the only one I have been told three diffrent storys on it and I have not seen a copy yet her lawyer says that he needs me to sign papers starting that I don't want to go

    Eliz’s Answer

    Your question is a bit hard to decipher without punctuation but it seems in all events you have a hard choice to make. Either you are going to contest what you are being told, or you are not. In all events, you should not sign anything until you see your own attorney. There are probate litigators in every state. You can get a referral from the local county or state bar association and most states have Legal Aid clinics as well. Do not delay though because things are already happening without you. Good luck.
    --
    Eliz. C. A. Johnson
    JOHNSON LAW FIRM
    johnsonestateplanning.com
    Post Office Box 8
    Danville, California 94526-0008
    925-362-1010-v
    925-362-1015-f
    thepracticeoflaw@gmail.com OR
    elizabeth@johnsonestateplanning.com

    See question 
  • Can I purchase my mother's home, now that she is deceased and not have it fall under the banks arms length policy?

    I have been taking care of my mother in her home for almost 5 years. I tried to purchase the home (while she was still alive) but the bank wouldn't let us because of their arms length policy. Does the arms length policy still stand if she is decea...

    Eliz’s Answer

    Irrespective of what happened before you mother died, because she died owning the property still, you are going to have to file for Probate to get the authority to handle the property. Do it today because the longer they go without payment, the more likely you will lose the property in foreclosure. Once a probate is opened, banks are more likely to wait or talk to you. Get a referral to an attorney in your county today. Often, an attorney will do an initial consultation free.

    See question 
  • I moved to SC to stay with a friend for a while, because of hardship, had to return to GA

    I am back in Ga, I had filed for SSA disability on my own and was denied. I went to a lawyer in SC to take on the appeal, signed his paperwork 2 weeks ago. I had emergency and had to move back to Ga. I did not get the paperwork I signed from him, ...

    Eliz’s Answer

    Clearly you need to write to the attorney and have a method to prove you sent the letter. Look at the documents you already signed and see what it says about cancellation. If he has done nothing yet, there be no issue. But if he has, then there will be. Do it today to save trouble later. Good luck.

    See question 
  • I received a letter from a ACS saying they have sent a levey to my bank on behalf of IRS. this is taxes that my deceased husband

    this is taxes that my deceased husbandand i owed when he passed away in 2010. I had received a letter from them two months ago and i sent in a check for 50.00 and a letter to see if i could start paying them out no response until now.Can you offer...

    Eliz’s Answer

    It looks like you waited too long to deal with this based on the fact that there is now a levy and that means the clock is really ticking against you. Get on the phone today, set up a plan if you can and stick to it. Banks are obligated to honor levies under a prescribed set of circumstances so your time is short to do so. Best to you. The local bar association in your county in Oklahoma will have a referral for you and most attorneys do an initial consultation free.

    See question 
  • I have been paying prop tax, upkeep,utility, lawn work and maitanence on someone elses home what are my legal rights to the prop

    any repairs i also paid for

    Eliz’s Answer

    What you did was make a gift absent any other agreement that should have been in writing. See an attorney locally for help if you want to press a claim for reimbursement but I can tell you that you have not been buying in to the property by doing this. Best to you. Your local bar association will have a referral panel and many attorneys will meet with you free for the first consultation.

    See question