Archived
How do you file a claim for income taxes on money inherited from an investment account if you haven't received a 1099?
Kenneth's answer
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Answered on November 28, 2016
The inheritance itself would not be taxable to the beneficiary (it may be to the estate if it is over a certain amount). Once inherited, however,...
Archived
Do I have a legal claim to a business during a divorce that I didn't own but was placed on the lease as owner operator for 10yrs
Kenneth's answer
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Answered on November 28, 2016
Maybe, depends on a lot of facts specific to your role in the business, as well as the terms of the divorce. You need to speak to a family...
Archived
If someone owes the IRS back taxes is it not a good idea to purchase real estate with cash?
Kenneth's answer
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Answered on November 28, 2016
You need to contact a tax attorney regarding the back taxes and how you can balance your obligation to the IRS with the desire to protect your own...
Archived
What is the penalty for early withdrawing from a Roth IRA account?
Kenneth's answer
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Answered on November 28, 2016
See IRS Publication 590 here: https://www.irs.gov/publications/p590b/ch02.html#en_US_2015_publink1000231064
Generally, there is a 10% tax...
Archived
Do I Tell An IRS Collections Rep. Over The Phone How Much Cash On Hand I Have When Disclosing My Financial Information ?
Kenneth's answer
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Answered on November 28, 2016
It depends on your situation. In general, $80 in a Paypal account probably won't lead to trouble if you inadvertently forgot it, but you should...
Archived
Can I get relief from IRS prior to making lump sum payment for back taxes with ex-spouse?
Kenneth's answer
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Answered on November 26, 2016
You would need to speak with a tax attorney about pursuing a filing with the IRS for relief by separation of liability or equitable relief (part of...
Archived
Are tax warrants extraditable from pa. to conn.
Kenneth's answer
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Answered on November 26, 2016
I think you mean can a PA tax lien be enforced in CT and the answer is yes, if PA is willing to go through the trouble. State tax lien enforcement...
Archived
What is the tax implications of selling a home in india and moving the proceeds to the US?
Kenneth's answer
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Answered on November 25, 2016
You will have to file for gains tax in the U.S. subject to offsets or deductions afforded by the U.S.-India tax treaty. The actual money transfer...
Archived
Taxes in US vs India
Kenneth's answer
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Answered on November 25, 2016
You should retain the advice of a good tax attorney. If you have already established the position and have the person working, you can't pick and...
Archived
Can I work for a US company but live in Canada with my husband while travelling to the US monthly for work?
Kenneth's answer
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Answered on November 25, 2016
You have some complicated issues here. On the immigration side, working would probably not be an issue as long as you stayed in E3 status. The...
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