Henry Daniel Lively's Answers (4728)

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Do I have to claim the diff between mortgage and amt house is sold for on my taxes if my house is foreclosed on?

Henry's answer | Answered on December 18, 2009

Under the internal revenue code you have income from debt forgiveness if the amount you pay the bank in settlement of your loan is less than the...

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The state is taking a house that is a rental by eminite domain for a free way. how can I protect myself from then tax?

Henry's answer | Answered on December 18, 2009

An involuntary conversion is covered by Section 1033 of the code and requires that replacement property be the same or substantially similar to the...

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Am i liable for taxes on an insurance pay off on a car that was my ex wifes in the divorce.

Henry's answer | Answered on December 17, 2009

You need to calculate the amount of your casualty loss on this vehicle. You may have a deduction here that will help offset the forgiveness of...

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Can the IRS garnish your wadges for state taxes without due proccess from the courts

Henry's answer | Answered on December 16, 2009

The IRS is a powerful debt collector and does not require a court order to collect taxes. Any individual seeking legal advice for their own...

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I am on the title of relative's house. Do I qualify for new purchase of Home Buyer Tax Credit?

Henry's answer | Answered on December 16, 2009

A new home buyer is defined as someone that has not owned a primary residence in the last three years. Any individual seeking legal advice for...

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Regarding taxes after you get divorce

Henry's answer | Answered on December 16, 2009

He can request anything. There is no law that I know of that says you have to do it. This is a negotiation, or court ordered item. Any...

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I am about to get married December31st. Do I have to file taxes jointly for the year or can I still file separately?

Henry's answer | Answered on December 16, 2009

You determine your filing status on December 31 of each year. If you are married, you can file as Married Filing Separately, or Married Filing...

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SSN to obtain TAX ID number for someone else`s business???

Henry's answer | Answered on December 16, 2009

You should not do this. It sounds shady. Your friend should use his own SSN. Any individual seeking legal advice for their own situation...

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What can I do about a wrongful tax lien from the state of CA?

Henry's answer | Answered on December 16, 2009

You have several options. First, you can request that the IRS correct their reporting to the FTB. Next, or even concurrently, you should file a...

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Tax credit for children

Henry's answer | Answered on December 16, 2009

I agree with attorney Lowrey. If you are the custodial parent, you receive the deduction and credit unless you have agreed otherwise, and you have...

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