Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 Recieved the stimulus rebate, BUT did not get it on my dependant son.?
I thought we were suppossed to get an extra $300 for dependants? I have an 18 year old, but he is still in high school. Was I suppossed to recieve the 300 exra credit on him?...


 Is there anyway i can claim my girlfreind on my tax return?
weve been living together for 3 years and i pay all the bills and she goes to college she just recently got a job with wendys about 6 months ago she dont make much but all her money goes to tuition i ...


 Is this a way reduce taxes/.?
The British government allows a Muslim who has four wives to claim benefit for all of them, why? They should be treated as the rest of us, one wife, one benefit....


 I did not file my income taxes? Help?
I did not file last years income tax - I did at H&R block but only found out that I would only be getting back like 50 dollars from fed and 30 from state . Is it OK to file with Next years?...


 Does the IRS have to abide by the same laws governed by this great nation or are they above the law?
can the IRS take money from my bank accounts wihout a court order?...


 Can i use my last pay stub of 2007 if i lost my w-2 for federal taxes this year?
...


 Where can I pick up tax forms?
I need an arizona tax form and am not sure where I can pick one ...


 I am divorced and the IRS took my refund to pay my ex-husband's debt. Any way to get my share of the refund?
I am recently divorced in 2007 and the IRS took my refund to pay my ex-husband's debt. Any way to get my share of the refund?...


 Social Security Benefits?
Do you pay taxes on it? My mom who is 80 says no...T...


 When a vehicle is reposed and the company sues you, do they have court cost picked up through the irs?
This truck was financed for 20,000 now they are trying to get 30,000 and have the irs take from us as well. However, they will not accept any money that has been offered or any payment arrangement ...


 How much do we ask for?
My husband got a job offer and they asked him how much he wanted. He said he wants to "bring home" $100,000 meaning after withholdings. We live in Texas. How much do we ask for?
A...


 If you have a job and no taxes are taken out what information must you keep up with yourself?
...


 Why doesn't the government just print money and not tax?
We all know the government is lawless and does whatever it wants so why doesn't it just print the money it needs to pay off the debt? Is the money they print now considered debt? Why tax A...


 What is the difference between a Form W-4 and W-2?
...


 Will I beable to claim mileage on my tax return.?
I work as a contract worker. I recenly stated driving and meeting with clients that my boss used to meet with. Should he have to pay me mileage or can I claim the Mileage on my tax return?...


 Taxes.......................
Lets see what taxes Americans pay.

Accounts Receivable Tax , Building Permit Tax , Capital Gains Tax , CDL license Tax , Cigarette Tax , Corporate Income Tax , Court Fines (indirect taxes) ...


 When you hire someone?
do you have to take out taxes
or can you just say you deal with the taxes?
just woundering how this works ?...


 Can I claim all 5 kids on my taxes and get back, for each one, even if i made less than 3,000 dollars.?
I am not sure if i can claim all 5 or if it really matters, because of the max amount of money they allow you to get back. but i know i dont owe taxes. and i made less than 3,000 dollars. pleas let ...


 Filing Status question?
I got married on July 14th of 2007 but accidentally filed 'single' on my tax returns that year, and so did my wife. Can we get int trouble for that? How much trouble? This was ...


 As a sole trader, should pension contributions apear on the Balance Sheet or Profit and Loss Statement?
...



Karen A.
Can the IRS take inheritance money left to me by my mom?
I am now divorced and raising one child. My question is about inheritance money and the IRS. I am paying off my X's business taxs. Although I was granted in my divorce, that he pay all taxes, he is self employed and pays nothing. Not one dime. they don't even bother with him for some reason. It's over 100K now. The IRS takes any refund I have, the rebate check that was issued to all of us.. etc. I have put in over 10 K in the last four years. Now that my Mom is putting her will together, I worry they will go after that. I don't want that to happen... Can the IRS take inheritance money left to me by my mom? What should I do to insure they don't take it if they can? Thanks, Karen
                     
 




Arthur R
Rating
If, by "business taxes", you mean employment taxes, and you were a "responsible party" in the business, then the IRS can seize any money they find in your name, or, for the most part, that you can access. It's possible that your mother can create a "spendthrift trust" that will provide for your needs but not for your wants, and the IRS might not be able to touch it.

If this is for back income taxes, and you cannot claim "innocent spouse" standing, the situation is about the same.

In either case, you can ask the Court which granted the divorce to seize any assets your ex has, in order to cover the back taxes that Court ordered him to pay. It doesn't sound as if this will help significantly....

If this is for business income taxes, the IRS can go after anyone who has assets of the business, but is otherwise limited by the divorce court ruling.

If this is for personal income taxes, the requirements for relief, as copied from the IRS web site, are as follows:

1. . You filed a joint return which has an understatement of tax due to erroneous items (defined below) of your spouse (or former spouse).

2. You establish that at the time you signed the joint return you did not know, and had no reason to know, that there was an understatement of tax (See Actual Knowledge or Reason To Know, defined below).

3. Taking into account all the facts and circumstances, it would be unfair to hold you liable for the understatement of tax. (See Indications of Unfairness for Innocent Spouse Relief, later).

4. A request for innocent spouse relief will not be granted if the IRS proves that you and your spouse (or former spouse) transferred property to one another as part of a fraudulent scheme. A fraudulent scheme includes a scheme to defraud the IRS or another third party, such as a creditor, ex-spouse, or business partner.

Good luck~


Chris A2
Rating
There's some good advice above.

One thing to watch out for: If the tax debt is joint, the IRS is not bound by your divorce decree. Your divorce was a private matter between you and your ex--the IRS was not made a party, didn't have a chance to be informed of the arrangements, and didn't have a chance to dispute the divorce judgment.

Because of this, the IRS can and will come after whichever one of you is easier to collect from. If they come after you, you are then left with the task of going after your ex to get the money back.


cherub_1978
Have your mother leave it to your kids in a trust fund.


src50
Once an inheritance is paid to you from the estate, it is simply your money - the source no longer matters. So if they can take money from you, they can take the "inheritance money." They cannot take it while the estate still has it because it is not yet yours.


Uh huh, go on I'm listening
Rating
Yes they can.

Why don't you fix this? That is an awful lot of money to shrug your shoulders at. Go back to court and explain that he is not fullfilling his share of the divorce.


rtfm
The IRS shouldn't be touching *any* of your money. Have you tried filing an Innocent Spouse form? It seems like that would stop them from taking any more of your money:

http://www.irs.gov/individuals/article/0,,id=96786,00.html

(Note: this is not the same thing as an "Injured Spouse")


Steve B
Rating
Set up an installment agreement to pay your taxes. The IRS cannot seize assets if you are paying as part of a formal agreement.


wartz
Rating
Your story is unclear. Why are you paying off your ex's businesses taxes? If it is not your debt, IRS can't touch it. If you were partners with you ex, it can. Provide some more details and I may be able to suggest some alternative actions.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.084
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy