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Bruce Givner

Bruce Givner’s Answers

3,027 total


  • Can sallie Mae private loans take my state tax refund if they are in default?

    can sallie Mae private loans take my state tax refund if they are in default?

    Bruce’s Answer

    Yes, Sallie Mae has the ability to take 15% of your income and your state/fed tax refund. Why not try to work out an installment agreement on the balance owed?

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  • Is it better to ask for an extension on my taxes until he retrieves his social security number?

    My husband is a non resident of the U.S. and I have to file for an Itin tax payer number for him to file my taxes. Until he receives his social security number I will not be able to receive all of the money I deserve back from my taxes. A lot of t...

    Bruce’s Answer

    It sounds like it makes more sense for you to wait until he gets the Social Security Number. In most cases that can be done in a matter of days.

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  • Can CSS intercept you tax refund on past due child support even if you arranged a payment and are 100% compliant with that plan?

    I’m paying supplemental child support as part of an order on my daughter’s braces. In court the order was to pay an extra $100 monthly until paid in full. This year my bonus pay, state, and federal tax refunds were all intercepted or attempted t...

    Bruce’s Answer

    If they incorrectly took your tax refund, then start by complaining directly to them. If they prove unhelpful, then talk to a competent family law attorney. If you cannot afford one call the Legal Aid Foundation of Los Angeles at 310-899-6200.

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  • Can I File Form 982 to report the income exclusion?

    I just received a 1099 from Bank of America (BOA) for a forgiven loan via the 2014 DOJ Settlement with BOA. The loan was an Equity Line Loan. $26K was used to payoff a second mortgage and much of the rest was used to update my principle residence,...

    Bruce’s Answer

    It sounds like you may qualify to file the form. However, given the dollars involved and the complexity of the problem - debt forgiveness is quite difficult - please consult with a competent tax return preparer (you don't need a tax lawyer) - in your neighborhood.

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  • Given a 1099-Mis one year late. What to do?

    I'm receiving a 1099-MISC a year late. The 1099 is for the compromise of a medpay subrogation claim I made in 2014. I owed $2,000 to my auto insurance company for medpay coverage as a result of a car accident, but negotiated the reimbursement am...

    Bruce’s Answer

    The company that issued the 1099 late is responsible for any penalty and interest imposed on you. So if you want to file an amended return and attach it to that amended return, in theory you can sue for the cost of the amendment and any penalties and interest. The question is whether you want to go through that. Mr. Fallahi has provided you with superb advice which you should follow.

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  • What do you think, do I owe them money and can I win this in court?

    Tax Audit 2014; I was audited and they are not allowing my 982 its against a 1099-C for a 2nd. The Auditor says they need my purchase contract for my house, my receipts for the 2nd from 8 years ago showing that it was a pool put in and estimated h...

    Bruce’s Answer

    You have to retain tax records relating to what you paid for an asset (so you can prove your basis) forever. In any event, if the auditor is indicating that he or she is against you, then stop talking to the auditor and force the auditor to write up the 90 day letter (Statutory Notice of Deficiency). When it arrives go on the Tax Court web site and, assuming the amount involved is $50,000 or less, you qualify for the Small Case procedure. There is a form petition you can fill out yourself which you must file within 90 days of receiving the notice (the deadline is on the Statutory Notice of Deficiency). You will ultimately get the chance to argue your case in the IRS Appeals Division. Once the IRS district counsel responds to your petition, call the IRS District Counsel and ask him or her when your case will be with an IRS Appeals Officer and who is the officer and what the officer's phone number is. Then call the IRS appeals officer and ask when you can meet to discuss your matter. If you have any good points to your case you will be able to work out a settlement. If you are uncertain, then buy some time from a competent CPA or tax attorney.

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  • H&R block made a huge mistake. what can i do?

    H&R block had a tax person that took my prior years info and applied it to 2014. He didn't enter the info I gave him. He was fired since and i was told he did this to a few people. now, i owe $3000. after contacting them, i was told they would do ...

    Bruce’s Answer

    The fact that you owe additional tax is not damages. If you owe tax, you owe tax. Your damages are what it costs you to pay a new preparer to fix the mistake and any penalties you suffer.

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  • Will we receive the home on a stepped up basis if we decide to sell it/

    Daughter wishes to gift my wife and I a home. We are seniors.

    Bruce’s Answer

    • Selected as best answer

    If your daughter gives you a home your basis in it is the same as hers. Your basis is not "stepped up" to the fair market value at the time of the gift. So if you sell it your gain is based on what your daughter's basis is.

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  • Fee for filing and research?

    Husband and I need to have back tax years done. 1999,2003,2004,2007, Would like to find someone who can get information from IRS/State of Ca and file them. In California.

    Bruce’s Answer

    It is surprising that you need to have back tax returns prepared for years that are so old; they should be closed under the statute of limitations. However, if you do, then you should hire a competent tax return preparer in La Quinta. Ask Deborah Kent, CPA 760-434-3882 in Palm Desert. Also try her at 760-340-9200. 44550 Village Court #103.

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  • How can i verified who claim my children with out permission

    Someone claim my children and want to know who claim. Them and press charges

    Bruce’s Answer

    You cannot prevent someone else from doing something on that person's tax return. You also cannot "press charges" against someone else for what that person claims on that person's return. If the person files something incorrectly, the IRS will take the appropriate action. If you are entitled to claim the child as a dependent, do so and let the IRS sort it out.

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