How to sell co-owned property if one owner does not want to sell.
- October 29th, 2015
- David Greene
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The law provides a way out of this common dilemma that usually arises following an inheritance by several siblings. One or more want to sell and get the money while the others want to keep the property. It is called…
When does one have to pay gift tax?
- October 12th, 2015
- David Greene
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One who is the recipient of a monetary gift does not pay the gift tax on the money received. The donor pays the tax. However, anyone can give a monetary gift of up to $14,000 per year without having to…
What if the IRS tries to collect taxes you do not owe.
- September 23rd, 2015
- David Greene
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If you receive collection letters stating that you owe taxes for years that you do not think you owe, you need to proceed under the approach to compromising tax liability known as the “Doubt As To Liability” doctrine. As the…
What to do if you have a missing W-2.
- March 11th, 2015
- David Greene
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All W-2s are to be mailed out by January 31. If one is missing, you should take these steps: (1) Contact your current or former employer and verify whether your address is correct and request a resubmission of the W-2.
Can a lien against one spouse attach to separate property after divorce?
- February 25th, 2015
- David Greene
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If a spouse has to transfer the marital home to the other spouse by Court Order and then t tax is assessed against him after the divorce is final,
How To Choose the Right Tax Preparer
- February 10th, 2015
- David Greene
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What should you look for in a tax preparer? Using our firm as an example, we specialize in dealing with all kinds of tax related problems, which has made us very cognizant of the mistakes others make.
Is canceled debt income to the debtor?
- February 4th, 2015
- David Greene
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When a taxpayer is unable to pay all of a debt and the creditor cancels the unpaid part, the amount of the canceled debt is generally treated as income to the taxpayer under federal tax law.
Should one retain professional help when audited?
- January 27th, 2015
- David Greene
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Yes you should for several reasons. First the professional will deal with the situation from a professional level rather than an emotional level.
Can one submit more than one Offer in Compromise?
- January 20th, 2015
- David Greene
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Yes one can certainly file another Offer after one is denied, especially when there is a change in circumstances. However, one should look at another possibility first.
What is a Special Needs Trust?
- January 14th, 2015
- David Greene
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It is a trust that is used to protect the assets of a Special Needs person, such as one who has been severely injured and receives a large settlement for his injuries.