Archived
If there is a judgment against me can the legally seize my income tax return is my return considered an asset
Magda's answer
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Answered on March 21, 2016
A tax refund is considered an asset. However, the IRS generally does not honor private party garnishments but has certain programs in place which...
Archived
Can I be incarcerated for this situation
Magda's answer
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Answered on March 21, 2016
You need to consult a criminal attorney immediately. I would stop posting too much more information regarding what you may or may not have done....
Archived
My question is if they win and I am given a judgment, can they seize my income tax return.
Magda's answer
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Answered on March 21, 2016
If you plan to pay I recommend that you attempt to settle the case by entering into an agreement where the loan company will not enter a judgment...
Archived
How to avoid a high tax bracket when receiving a large settlement?
Magda's answer
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Answered on March 21, 2016
Q1: The income still has to be declared by the person who received it. Then from the income they may have a charitable deduction to a non-profit...
Archived
Is there anything I can do about it?
Magda's answer
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Answered on March 21, 2016
Do you have some sort of court order entitling you to claim your son? If not, can you prove that you provide more than 50% of your son's support....
Archived
Can I file charges or a claim against my employer for not sending in my information and delaying my taxes?
Magda's answer
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Answered on March 21, 2016
The IRS can assess penalties against your employer for failing to file required W-2s. You can file your return by using IRS Form 4852 which is...
Archived
Do I owe capital gains on this stock, or is this law still in effect?
Magda's answer
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Answered on March 21, 2016
Per the IRS:
Gains on Qualified Small Business Stock
This section discusses two provisions of the law that may apply to gain from the sale or...
Archived
What can I do? Even if the IRS let me make payments, I could not afford to live. I know they can take my pension and social sec
Magda's answer
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Answered on March 21, 2016
Consult a competent tax professional. Cancellation of debt is not income if you were insolvent at the time the creditor wrote the debt off. Hence...
Archived
Please advise. Thank you.
Magda's answer
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Answered on March 21, 2016
You do not know what your social security number is? How is it that you did not apply for your own social security number? If you know your...
Archived
Chapter 7 Bankruptcy Closure
Magda's answer
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Answered on March 21, 2016
Usually you will not receive anything further. I am not sure why it is so important for you to know when the court closes the case.