How do I treat these 1099-c for our tax return? :
2012 filed C Corp bankruptcy 7 file closed 10/02/14; had to file personal 7 bk 2013 file closed 2/25/14. Listed all creditors on both. Now we just got 1099-C from the financial place that the Corp had loans with that we personally put up property for etc. box 5 is checked.
The lease company sent us 1099-C and did not check box 5.
Christopher’s answer: That can happen, but it sounds like it was due to the bankruptcy. As the other attorney points out, you can exclude this entirely by filing a Form 982 with the return.
I'm supposed to claim my son on the tax return, but my ex-wife keeps doing it. How do I stop this from happening?: I have a court order stating that I am to claim my son as a tax exemption every year unless my ex-wife proves that she makes over $14,000 a year. She does not work and has not in years, but she still claims my son every year on her tax return. How can I either get the IRS to audit her, make her stop doing it or get her in trouble for this. I have tried sending a copy of the court order to the IRS, but I have had no response from them, so she claimed him again this year. I try to file before her, but my work is slow at getting the W-2's out. Please help me with this. It seems like she gets away with everything and continually hurts myself and my family.
Christopher’s answer: The court order that compels her to do so is a state court order. You need to speak with divorce attorney and bring an action in state court to compel her to follow the order. The IRS will not get involved and will always give it to the parent that has the children more days out of the year. You have to take her to state court and compel her to sign a Form 8332 that covers this year and every later year you are supposed to get the exemption. Point is, don't just get it signed for one year and have to keep playing the game every two years. They can be dated for future years on the same form.
Are my parents in fult eventhought they tured 2015 w4? Can the employer refuses a copy of their w4 for 2015?: My parents turned their w4 to their employer in the beginning of 2015. My parents tax preparer filed the 2015 w4 out for them so it was filled out correctly. My parents received their 2015 w2 in which was clear their w4 they turned in got ignored. Both my parants got taxed for dependents they corrected to zero in the w4 they turned in. My mother got exempted from federal taxes which her nor the tax perparer filled on the w4. My parents are now in an owing position to the IRS. The employer blames my parents for the mistake eventhought they tured in the proper filled out w4 for 2015. The employer also refuses to show my parents their w4s or any copies of them, and he also refuses to share what payroll company he uses.
Christopher’s answer: Unfortunately, in the case you are required to pay what was not withheld. In the future, pay attention to your pay stubs to make sure this is taken out. If the withholding is not taken out, you will be paying the resulting tax liability when you file your return. Your mother can simply give the employer a new W-4 that you download. Clearly something is wrong with the old one. Give the employer a correct W-4, and make a copy of it.