Questions answered by Sebastian Nye-Schmitz

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My father passed away and his will states that his estate go to his kids. condo was only in his name, wife changed locks.

Sebastian's answer | Answered on July 28, 2014

The general rule is that the will controls the distribution of assets. However, there are certain special rules about homestead property and the...

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Delinquent taxes??

Sebastian's answer | Answered on July 27, 2014

As a previous poster has said, the statute of limitations remains open on any non-filed returns so, technically, the IRS can assess those years at...

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Tax refund

Sebastian's answer | Answered on July 27, 2014

The time your refund has been taking is a bit out of the "norm". You may just want to call the IRS at 1-800-829-1040 and ask them why the refund is...

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On what assets does the 5% streamlined disclosure tax penalty apply for US residents disclosing unfiled FBARS and 5471's?

Sebastian's answer | Answered on July 27, 2014

There is no way to provide you with a definitive statement on what program you should follow because the main determining factor to determine is...

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Tax questioin...regarding the new streamlined disclosure process for IRS, is the 5% penalty imposed on intangible assets?

Sebastian's answer | Answered on July 27, 2014

Conservatively, I would have to say that the value of the corporation (no matter what the assets are) need to be included in the calculation...

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I'm starting my own business and need more information

Sebastian's answer | Answered on July 24, 2014

You definitely need a custom tailored plan from someone who has all the facts.

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What to do about old Sole Proprietorship/EIN record based on erroneous data?

Sebastian's answer | Answered on July 24, 2014

If it was a sole proprietorship and no business was conducted, I do not see a problem to let the EIN fizzle out. Are there any specific concerns...

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Purchasing a property from a FOREIGNER tomorrow, they asked me to sign de statement below or not deal. Should I?

Sebastian's answer | Answered on July 23, 2014

The FIRPTA tax must be withheld from a closing by the buyer of the real estate and the withholding is to be paid to the IRS instead of to the...

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What is the taxation of a non-resident alien member of an LLC that has another member and that is based in USA ?

Sebastian's answer | Answered on July 22, 2014

This topic is way too broad to be able to give you a comprehensive answer. You address different types of taxes. First, the LLC does not pay income...

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If an illegal alien with expired German passport wants to get back to Germany for good, what are his options. Thanks.

Sebastian's answer | Answered on July 20, 2014

I am not exactly certain what you are asking. However, a good first step would be to contact the Consulate to receive a new Passport. Better yet,...

Sebastian Nye-Schmitz's Answers (102)

My father passed away and his will states that his estate go to his kids. condo was only in his name, wife changed locks.

Delinquent taxes??

Tax refund

On what assets does the 5% streamlined disclosure tax penalty apply for US residents disclosing unfiled FBARS and 5471's?

Tax questioin...regarding the new streamlined disclosure process for IRS, is the 5% penalty imposed on intangible assets?

I'm starting my own business and need more information

What to do about old Sole Proprietorship/EIN record based on erroneous data?

Purchasing a property from a FOREIGNER tomorrow, they asked me to sign de statement below or not deal. Should I?

What is the taxation of a non-resident alien member of an LLC that has another member and that is based in USA ?

If an illegal alien with expired German passport wants to get back to Germany for good, what are his options. Thanks.