Statue of limitations on sales tax? (TN)?
I am trying to help my mom out with this one.... Several years back she owned a c-store with a now ex friend. When the business closed, there were unpaid sales tax.... The partner filed a chapter 7 before the IRS came after them, Turned out they only went after my mom even though all papers were in both names. She is now in a chp 13 for this and has been paying $500 a month to the bankruptcy to pay this. Now they say she isn't paying enough (she makes $10 hr now) and want to dismiss her case. Is there a statue of limitations on this and why aren't they holding ex-partner responsible for all of this? She has crappy atty, and she has called around to other atty's but they tell her it is a conflict of interest for them to talk to her... What to do? Please and Thank you
IRS Tax debt not sure what to do?
What you have or haven't done before does not affect your right to file an offer in compromise. What matters is how much can IRS collect. If it has taken no action yet the IRS computer has probably calculated that it will be more profitable to work on other cases in the pot. To make an acceptable offer in compromise you have to offer a lump sum that is equal to what IRS determines is as much as they can squeeze out of you. This is the quick sale value of your equity in assets that IRS could seize plus 48 times what you could pay as a monthly payment computed using IRS expense standards or, if you want to make 24 monthly payments, change the 48 payments to 60. In your case, if IRS felt you should be able to make payments of about $220 per month, you would pay the liability in full and you would be out of the game. Ideally someone with a relatively low balance like yours would have access to funds that IRS couldn't get like a gift or loan from family members. The ads you see on TV highlight the company's most dramatic successes not the ones that flop. IRS isn't Santa Claus and is not in the business of giving away the store. They will also charge hefty fees because they have a big advertising budget and have to pay salesmen to sign you up and give you no guarantee that at the end you will have less than you started with. I handle these kinds of cases professionally for less than half of what my as seen on TV counterparts charge. I can tell you about the clients whose accounts were settled for two to ten cents on the dollar but you still have to pay me to represent you. and that's them, not you. I have no idea what I would tell you that you have to pay and wouldn't until I crunched the numbers. You might be able to figure this out for yourself. You won't see any more ads from Roni Deutsch. She surrendered her law license--that looks better than being disbarred--and is being prosecuted for cheating her clients. .
IL state tax refund help?
What does "Your return has been processed. As a result of that processing, your return has not resulted in a refund condition. " mean ? Any help would be great Thank you.
Forgiveness of tax debt over ten years?
I have tax debts that extend back to 1989. I am using the tax advocate office in Tennessee to seek forgivenes of taxes that are ten years old and more. I have been advised by the advocate office and a tax attorney that this is within the law and as a consumer I am protected. I went through bankruptcy in the mid 1990's; it has been difficult to meet the payments. It is my understanding that after ten years taxes can be forgiven.
How does California tax rental income?
There are many variables to this question but Ill assume you are a Cali resident with 1 rental property, for example. California Counties each have their own Property Tax Rates paid in two installments, usually in Nov and February of two calendar years. They may use the term 2017-18 Property Tax Bill. That being said you don't pay a Rental Property Tax Debt to the state directly. So there is no California Rental Income Tax per se…HOWEVER, any and all income from any source must be applied to your Federal Income Tax Return in any number of categories. For this instance your Rental Income, AFTER you've deducted mortgage interest, expenses, repairs etc. will be calculated with all other income sources on your federal return. Have I lost you, yet?! Once you've completed your federal return you will have aquired an ADJUSTED GROSS INCOME. California will use this number, along with more adding and subtracting to come to an amount, as a whole (that your rental income is baked in there with all other income) that California will now apply a tax rate to, and depending on how much you had witheld or not will be your California Tax Liability. You can always go to Franchise Tax Board Homepage for more specific information.