Questions answered by Henry Daniel Lively

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Who claims the child? Mother states she is a full time student, Father pays 600 a month.if father cant, can he get a tax break?

Henry's answer | Answered on October 02, 2014

The custodial parent is entitled to the deduction unless they release it with a Form 8332. Child support is not income to the recipient -- so no,...

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IRS TAX LEAN ON PROPERTY

Henry's answer | Answered on October 02, 2014

Yes, if you have proceeds remaining after all senior liens are paid, the balance will be paid to the IRS until their lien is satisfied. If you...

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Does child support factor into determining weather or not one can claim head of household as stated in Treas. Reg. 1.7703b

Henry's answer | Answered on October 02, 2014

I believe that you have asked this question multiple times. Child support does not factor into the determination. This was a court ordered amount...

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Do I have to pay capital gains tax?

Henry's answer | Answered on October 02, 2014

You may have to pay capital gains tax. You determine the capital gain by deducting the tax basis and commissions and closing costs from the sale...

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Does child support play a factor in Reg 17703-1 (b)(1) head of household tax criteria

Henry's answer | Answered on October 02, 2014

No, it does not. She is using money she was awarded for child support to pay for the child's support.

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Should the Comptroller of Maryland have access to my 2012 federal tax records if I lived in VA in 2012, and in MD in 2013?

Henry's answer | Answered on October 02, 2014

Yes, they have the right to inquire and determine whether you owe a tax return to Maryland. Under the sharing of information program the IRS most...

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MY FEDERAL AMENDED TAX RETURN FROM 2010 WAS DENIED BUT MY STATE AMENDED RETURN WAS ACCEPTED AND REFUNED

Henry's answer | Answered on October 02, 2014

There is a statute of limitation for refunds and it is three years from the original due date of the return. Returns filed after this date...

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LLC or C-Corp to an S-Corp?

Henry's answer | Answered on October 02, 2014

Either one of these entities may be suitable. You may want to even consider a sole proprietorship in the beginning to save costs. Develop your...

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What do you do about scam calls impersonating the IRS (or DMV, Police or other)?

Henry's answer | Answered on October 02, 2014

This is a big problem now. Report this to the IRS, your local police, and any other agency they purport to represent. Do not engage the callers...

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I paid several thousand dollars in security deposit violations to a tenant (Chicago). Should I file a 1099-MISC ?

Henry's answer | Answered on October 02, 2014

If you are in doubt, file the form. It is an information return. If it is just that you were ordered to return additional amounts of a security...

Henry Daniel Lively's Answers (4728)

Who claims the child? Mother states she is a full time student, Father pays 600 a month.if father cant, can he get a tax break?

IRS TAX LEAN ON PROPERTY

Does child support factor into determining weather or not one can claim head of household as stated in Treas. Reg. 1.7703b

Do I have to pay capital gains tax?

Does child support play a factor in Reg 17703-1 (b)(1) head of household tax criteria

Should the Comptroller of Maryland have access to my 2012 federal tax records if I lived in VA in 2012, and in MD in 2013?

MY FEDERAL AMENDED TAX RETURN FROM 2010 WAS DENIED BUT MY STATE AMENDED RETURN WAS ACCEPTED AND REFUNED

LLC or C-Corp to an S-Corp?

What do you do about scam calls impersonating the IRS (or DMV, Police or other)?

I paid several thousand dollars in security deposit violations to a tenant (Chicago). Should I file a 1099-MISC ?