Questions tagged [taxes]

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27
votes
3answers
8k views

What happens to Donald Trump if he refuses to turn over his financial records?

Headlines for 2021 February 22 read "Supreme Court Approves Subpoena for Trump's Financial Records". Since the Supreme Court has now ruled on the matter, I am not aware of any other body to ...
1
vote
1answer
49 views

14 day rental rule and 1099 Misc. How to report?

I rented my house for 12 days to a movie production company. I understand that I don't have to report the income (or any expenses). However, the production company sent me a 1099 Misc for rents, which ...
0
votes
1answer
30 views

Non resident tax while working remotely

I am an F1 student on OPT and my employer is based out of Washington. This would be my only source of income. Given the remote work situation now, I am planning to stay in a different state and work. ...
1
vote
1answer
73 views

Does a state Department of Revenue typically have access to your property / home?

Here's an interesting one, the Department of Revenue (Montana) shows up on your property. They seem nice, and they want to measure your house / walk around in it etc. It's still under construction. ...
0
votes
0answers
42 views

divorce contract vs tax law

My (PA) divorce contract states that a benefit (child or education credit) one of us receives from claiming a dependent will be shared. Under the tax law, my ex does not qualify to receive the credit ...
2
votes
1answer
40 views

Inherited house and principal residence exclusion for capital gains on IRS Form 104

I'm the personal representative of an estate in Massachusetts. A home in probate was recently sold and the estate received a 1099-S. There are about $50,000 in capital gains from the sale. I lived ...
0
votes
0answers
25 views

In Michigan, must sales tax be paid for food served to residents in nursing home/senior living communities?

Can someone clarify the Michigan Sales Tax law on prepared foods, specifically for nursing home/senior living communities? Residents are often provided prepared meals as part of their monthly fee. Is ...
3
votes
1answer
111 views

What is meant by direct Taxes in Article 1 Section 2 in the US Constitution?

I am new when it comes to understanding the US Constitution and I am not comfortable with Section 2, Paragraph 3 of Article 1! [Representatives and direct Taxes shall be apportioned among the ...
2
votes
0answers
50 views

Can the officers of a 501(c)(7) take salaries?

According to CharityWatch the Boys and Girls Club of America is a 501(c)(3) nonprofit organization, whose CEO is salaried at over $800,000.00. So clearly, it is legal for the CEOs/officers of a 501(c)(...
0
votes
1answer
152 views

Employer forgot to take taxes out of severance; now demanding it back or legal action. Can I just settle it with IRS?

I was laid off back in March due to COVID. My employer messed up and delayed our severance payments, so instead, they offered to cancel the original checks and send us all wire payments. When we got ...
6
votes
0answers
79 views

What is the furthest point from land at sea where individual U.S. state laws apply?

I wondered to myself if there was a specific point within the 12 mile US territorial sea where individual U.S. state law ends and only federal law applies. For example, could an individual/business ...
0
votes
3answers
103 views

Why aren't churches registered more massively?

When reading an article in the Huffington Post about how easy it is to register a church (as shown by John Oliver) I was wondering why the practice is not more widespread. The American IRS does not ...
1
vote
1answer
92 views

Is the new co-owner of property liable for its debt?

I co-own some rental property. My co-owner, who managed all the financials of the property (taking in rent and paying expenses) recently died. I haven't seen the deed, and his widow can't find it, but ...
8
votes
1answer
2k views

If I owe state taxes, can the state seize a relative's property in retaliation?

I live in the United States and I owe taxes to the state, which I'm not able to pay. I don't have a permanent residence and live with family/friends. One of my family members received a letter stating ...
1
vote
0answers
42 views

How do banks (in Switzerland and elsewhere) protect bank secrecy while adhering to government oversight?

Are banks in countries with strong secrecy laws (like Switzerland) letting the government see their account balances for oversight and tax compliance purposes? If so, wouldn't that defeat the purpose ...
1
vote
2answers
60 views

Is any software/product operated under a name a business?

If make an app and publish that I alone operate under a made up name, am I legally a business or an individual?
1
vote
0answers
41 views

Can a server justify a permanent establishment in a tax manner?

Let's assume I am located in Germany, but I am operating servers in some other country, for example Ireland. My fictional business is running these servers to rent them out to others (like hosting ...
0
votes
1answer
30 views

USA: What happens if I do not file form 990 for a nonprofit?

I have a nonprofit that I cannot liquidate because I do not have a US credit card to pay for liquidation. (I paid for another person to liqudate it for me, but Colorado Secretary of State office ...
7
votes
1answer
1k views

Tax Implication of COVID-19 Induced Remote Employment

A U.S. company has instructed it's employees to work from home for a period extending 4 weeks following city and state guidelines as a necessary precaution in response to COVID-19. Subsequently ...
-2
votes
2answers
126 views

Is a minor liable to pay old dues to his father on attaining majority?

I had some stepfathers and an equal number of fostermothers in my life. My Stepfathers used to work in customs and central excise department of the government of INDIA. They used to be transferred ...
-1
votes
1answer
78 views

Bonds of foreign reputed companies and Army bonds

Do the functioning of Bonds cease after the date of maturity of the bonds? In what respects Army bonds differ from Bonds of foreign companies operating in INDIA? if ...
1
vote
3answers
99 views

Life insurance and taxes: Does a sole beneficiary need to tell other heirs? (Utah)

Situation Updated A sibling died. There are several heirs. One heir was named the sole beneficiary of a life insurance policy, who received and deposited the check. There is no will or other ...
1
vote
0answers
35 views

Un-Accepted Income

In the question, Refusing income or payment without tax liabilities, the accepted answer states, Generally speaking, you can not "turn your back" on income you are entitled to receive. What ...