A family member made me a joint owner for 3 years in a rental property without my knowledge. Last year I was asked to sign a deed giving up my rights, which I did (that's how I found out). I never received any compensation from the business or the transfer of the rights nor a K1. I received a letter from the IRS asking me to pay taxes on partnership money I never received. Can I tell the IRS it wasn't me but my family member who received the money?
The simple is yes. You need to present the letter to tax professional who can communicate with the IRS on your behalf. You have presented scant facts in you post, and you may not know the facts if your were made a "partner" without you knowledge. Best have a professional investigate the matter and provide you with the appropriate recommendations.
Hope this helps!
Law Offices of Phillip M. Smith Jr. Inc.
300 Corporate Pointe
Culver City, CA 90230
THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can only be provided after consultation by an attorney licensed in your jurisdiction. The answer to question does not create an attorney-client relationship or otherwise require further consultation. Mr. Smith is licensed to practice law throughout the state of California with offices in Los Angeles County. He is authorized to handle IRS matters throughout the United States, and is also licensed to practice before the United States Tax Court. His phone number is 323-292-4116 or his email address is email@example.com.
Yes...or a CPA could assist you as well.
My answer is not intended to be giving legal advice and this topic can be a complex area where the advice of a licensed attorney in your State should be obtained. Please click "helpful" or "best answer" if my answer added any value or add a "comment" if you have more info for me to help you get a better answer.
You should consult a tax attorney or CPA before you call IRS. Either of tax attorney or CPA can represent you.
Law Office of Brian H. Lee, San Jose, California, 408.246.6710 This is general information, not legal advice. This does not establish any attorney client relationship.
Make sure that you hire a tax professional to help you like the other attorneys have stated. You don't want to handle this alone. You can most likely get the income removed from your account, but it's going to take a little work. Please seek legal counsel or a CPA knowledgable with these specific issues. Good luck!
Isai Bismark Cortez, Esq. www.bismarktax.com Office 855-829-6055 DISCLAIMER: THE ABOVE INFORMATION IS NOT LEGAL ADVICE. THIS IS GENERAL INFORMATION AND LAWS VARY FROM STATE TO STATE. PLEASE CHECK WITH A LOCAL ATTORNEY OR CONTACT THE IRS OR STATE TAXING AUTHORITY WITH ANY QUESTIONS.
A tax attorney or a tax CPA can get the fraudulent ownership interest in your name removed. You should have raised this issue and acted upon it when they asked you to sign your ownership interest away. You would have argued that you had no such interest ownership to begin with. Good luck.