Archived
What relationship is valid to claim an TIN , may I qualified to claim an uncle living in Mexico or a niece .
Bruce's answer
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Answered on February 23, 2013
First, you should read IRS Publication 501 which is at http://www.irs.gov/publications/p501/ar02.html#en_US_2012_publink1000220939. Second, to...
Archived
What can be done about an employer that has not paid employees in over 1 month, and has no answer or sign of attempting to pay?
Bruce's answer
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Answered on February 23, 2013
The state of Georgia doesn't seem to be very friendly to employees with complaints, so I would call the Atlanta Wage and Hour office of the US...
Is it a bad idea to claim exempt status on one paycheck?
Bruce's answer
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Answered on February 23, 2013
Mr. Bowes has given you good advice. Yes it is OK to have nothing withheld on any one particular check. However, as explaiend by Mr. Bowes, you...
Archived
Can my spouse sell his condo (under his name) to me at market price in order to lock capital gain so I can sell it latter?
Bruce's answer
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Answered on February 23, 2013
No. Gains between spouses are ignored. Internal Revenue Code Section 1041(a)(1). The other lawyer gave you good advice about the $250,000 per...
Archived
SUBTYPE ( Turbo Tax 3rd pry bank ) will not release my refund to the IRS or me .
Bruce's answer
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Answered on February 23, 2013
I am not clear about your facts. If the bank has your money and is refusing to release it, then sue the bank. Depending upon the amount involved,...
If i buy a property in Florida in the Tax Deed Sales, Is an IRS lien don't wiped out?
Bruce's answer
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Answered on February 23, 2013
I am not 100% certain. However, I believe that an IRS lien recorded against real property has no greater claim to the property than any other...
Archived
Work in OK and Maintain Primary Residence in Houston TX .
Bruce's answer
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Answered on February 23, 2013
Every state has a slightly different test of residency. However, as a general matter - and this is the California and Illinois approach - a...
Archived
Should I claim a house on my taxes that my grandmother left to me & my brother?
Bruce's answer
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Answered on February 22, 2013
You can't claim the mortgage interest unless (I) you own the property and (ii) you are making the payments.
Archived
When filing my taxes, can I deduct the interest I pay on my mortgage if I do not live in the home?
Bruce's answer
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Answered on February 22, 2013
Yes.
Does the employee have to pay taxes on a liquidated damages portion of an unpaid overtime settlement agreement?
Bruce's answer
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Answered on February 22, 2013
The employee is taxable on wages whether paid currently or as damages in a lawsuit. The payor would report them on a W-2 or 1099.
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