All Questions
619 questions
0
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1
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41
views
Do U.S. PFIC reporting and taxation laws apply to assets held and/or traded in a 401(k) or HSA account?
U.S. persons who hold (directly or indirectly, as defined in the IRS instructions) financial assets called "passive foreign investment companies" (PFICs) may be required to file Form 8621 ...
- 3
2
votes
1
answer
762
views
Is there any advantage to using gifts to avoid estate tax?
The estate tax and gift tax are unified. Over the exemption there is no advantage in gifting, any tax advice there is only an advantage if you evade taxes.
Under the exemption there is theoretically a ...
- 1
0
votes
1
answer
60
views
Selling Primary Residence Home Owner Exemption
My understanding is that one must use the property as a primary residence for 2 out of the last 5 years (unless their is an exemption, such as a new job). Likewise, my understanding is that the 24 ...
- 101
3
votes
1
answer
173
views
Can an accountant ignore criminal activity by their client?
I'm writing a work of fiction that involves some criminal activity, and I'm having a hard time understanding how that would affect the accountant in this situation. The work is set in the US, in the ...
- 1,233
1
vote
1
answer
152
views
Use Tax Legitimacy
I recently learned of Use Tax.
The use tax I learned about is a little different than that defined above in that it is a small town enforcing a tax on goods purchased elsewhere, even though a sales ...
- 915
3
votes
1
answer
260
views
In which state will your income be taxed?
If you do work in Austin, Texas, as a remote online customer care specialist for the Augusta National Resort (situated in Georgia) do you pay Texas or Georgia income tax?
- 5,515
0
votes
0
answers
54
views
UK State pension rules
I enquired about the amount of UK state pension that I would receive due to my pension contributions. I received advice from a government employee claiming that I would receive the full state pension ...
- 35.4k
1
vote
1
answer
76
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Can anyone clarify the Secure 2.0 act for retroactive contributions to prior year retirement accounts
This is markedly confusing.
You can elect to make a retroactive solo 401k contribution as a sole proprietorship under the secure 2.0 up until the tax filing deadline (without extension). So, April ...
0
votes
1
answer
50
views
What does "with costs" mean in the context of an appeal to Canada's Tax Court?
In Howard v. The Queen, the judgement reads:
In accordance with the attached Reasons for Judgment, the appeal from the reassessment made under the Income Tax Act is allowed, with costs, and the ...
- 2,060
0
votes
1
answer
69
views
How to fairly buy-out a sibling of an inherited house that the other has lived in for over a decade? [closed]
I rented my Grandparents house from my father for 2 years before he passed. After he passed the house was put into both my name and my brothers. We did not discuss selling as this was my home and I ...
0
votes
1
answer
39
views
Attribution of Payment for Mortgage/Loan Interest (Form 1098)
The 1098 Mortgage Interest Statement is a form that describes the amount of interest paid by an entity on an outstanding mortgage loan. What are the legal requirements for this interest to be ...
- 109
2
votes
1
answer
53
views
non-profit donations and tax preparation deduction
Before 2018, tax preparation could be deducted. Most commercial services used it as part of their marketing, suggesting it was "free" because it could be deducted.
After the (doubly ...
- 123
-2
votes
2
answers
110
views
Determine if email from government employee is legally binding [closed]
When receiving written correspondence from municipal employees in Ontario, is there a way to determine if the information is legally binding?
For example, I received an email from an employee at a ...
- 115
3
votes
1
answer
258
views
Can IRS make the taxpayer pay the costs of litigation if the latter loses the case?
Let's say a petition is filed at tax or district court against IRS because the petitioner thinks he/she doesn't owe tax imposed by IRS or is entitled to refund but not getting one from IRS. And let's ...
0
votes
1
answer
83
views
How are non-service voluntary tips on goods taxed?
Inspired by this question, I started wondering about how voluntary tips are taxed when they aren't on a service, but on goods.
For example, here's an interesting one. There's a legit company called ...
- 1,411
7
votes
3
answers
2k
views
Tipped Wages: What is a Tip
I am asking this question in relation to recent talk about exempting tipped wages from income tax. This is something that seems to be supported by both Kamala Harris and Donald Trump in their ...
- 861
-2
votes
1
answer
87
views
Can a district judge leave the litigated tax issue for IRS to decide because the former doesn't have enough expertise?
Let's say I'm in a dispute with IRS about the tax they assessed on me and administrative resolution is going nowhere. I'm disputing the whole sum assessed and arguing that no tax is due period. I'm ...
0
votes
1
answer
118
views
Possible to petition at district court/court of federal claims against IRS after losing in tax court?
A quick question. So assume I petition against IRS in tax court and then the court rules in favor of IRS. And then I also lose the appeals process at tax court. So let's say I then pay the tax I'm ...
3
votes
0
answers
127
views
Do Ontario municipal property taxes only apply to surface rights?
It's my understanding there can be different kinds of rights associated with a given parcel of land in Ontario, Canada:
Surface Rights (most common)
Mining Rights
Timber rights
Other, such as fishing,...
- 115
-4
votes
1
answer
86
views
What (new) legal principles can guide the necessary changes in social-economic (tax, social, labour) law due to AI transformation of economy and work? [closed]
What (new) legal principles can guide the necessary changes in social-economic (tax, social, labour) law due to AI transformation of economy and work?
I would prefer research trends, authors and ...
- 375
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1
answer
225
views
Can a judge throw out a case where no material harm has occurred?
In the Trump Hush money case, one aspect of the legal theory was that Trump violated New York state tax laws by not properly classifying the payments to Stormy Daniels when he gave money to Michael ...
-4
votes
2
answers
83
views
Business in friends name
Let's say person A transfers all his assets including a large business to person B. Person B then "donates" a large amount of money to person A on a monthly basis for the rest of his life. ...
- 1,160
9
votes
3
answers
3k
views
What legal reason, if any, does my bank have to know if I am a dual citizen of the US?
I am a US citizen permanently living overseas, and maintain a bank account in the US. I was recently prompted to update my personal information, and one of items I had to answer was whether I had dual ...
- 296
1
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0
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114
views
Would Darrell Royal have been allowed to keep Willie Nelson's Pedernales Country Club if he had paid the amount of the foreclosure on it?
This question is more about possible government overreach than a legal question, which I thought made it a better fit on the Stack Exchange Politics site since government and taxes are topics ...
- 127
0
votes
1
answer
58
views
US Tax-exempt filing form [closed]
I thought as a US nonprofit I could file Form 990-EZ.
When I was applying for an EIN, I selected corporation as my nonprofit's structure. I believe 501c(3) nonprofits must be structured as a ...
- 121
-4
votes
1
answer
76
views
Does online business, only using crypto currency have collect a tax bill before they can release funds back to an individual?
Online platform company, invest small amount of funds to earn a commission by reviewing items. If an item becomes to expensive you account goes negative and you have to deposit money to clear to ...
1
vote
1
answer
90
views
Calculating Estate Tax with a charity
Consider the following hypothetical situation. A person, called Joe, dies in 2024 with a
taxable estate of 20 million dollars. There is no issue of a state estate tax. The terms of his will state that ...
- 1,661
-2
votes
1
answer
60
views
Can 501(c)(4)s donate to political candidates' campaigns?
Can 501(c)(4) non-profits fund political candidates' campaigns?
Unlike a 501(c)(3), 501(c)(3)s can engage in political activity, endorse candidates, etc.
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1
vote
2
answers
99
views
What are the federal tax consequences of the repossession of a property where the FMV is less than the value of the loan?
This is a conceptual question, but I have included a sample set of facts to set the stage:
Bank loans $200k to Individual A to purchase home.
Individual A pays the loan down by $20k, but eventually
...
user56567
0
votes
1
answer
51
views
Common reporting standard
I have a question that I still have no answer for.
I know that countries have a mutual agreement called Common Reporting Standard which is thought for fiscal transparency, but how does it operate?
If ...
- 439
2
votes
0
answers
68
views
What is a union? How is a union created? What are union restrictions? [closed]
In states within the United States (pick Arizona for example), what is a labor union? I'm not looking for the "organization that represents employees" answer. I'm looking for the legal ...
- 151
3
votes
1
answer
256
views
Does the UK have an equivalent to the Cheek defence?
In essence, in the UK, can someone raise a defence of an unreasonable yet good-faith misunderstanding if charged with tax evasion?
In Cheek v. US, the US Supreme Court stated that a defendant’s mere ...
- 1,253
7
votes
3
answers
2k
views
What are some of the legal consequences of hiring full-time employees as independent contractors?
I read on the Workplace SE people mention being full-time employees employed as independent contractors. What would be the legal consequences of doing so?
I'm under the impression that contract work ...
- 5,515
0
votes
0
answers
66
views
Which payroll tax and labor laws are relaxed when hiring a family member instead of a regular employee caregiver in California?
There is plenty of information already for an elderly dad hiring a caregiver as a household employee in California such as this check list for California tax and labor laws. And this check list is ...
- 387
2
votes
2
answers
172
views
Council Tax Avoidance
I was wondering what this crime would be called
Basically a patch of land has two houses on it. One house is all legal and sound. The second was built without permission/secretly etc. The family that ...
- 21
-4
votes
1
answer
365
views
Is it legal having two 40 hour jobs in 2 EU countries being non EU [closed]
I have a work permit in Sweden for 3+ years.
I have received a job offer from another EU country.
I want to work both jobs. Both jobs are 55k+ euro annually so I have no issues with minimum ...
- 1
0
votes
1
answer
1k
views
How does the IRS know how long I live in a house?
I moved out of a house 2 years ago that turned into an AirBNB when I moved out. Now, I want to sell that house, but to avoid capital gains, I have to have lived in it for 2 out of the last 5 years. I ...
- 39
-2
votes
1
answer
151
views
A gift loophole to avoid taxes in US
Let's say for the sake of concreteness a US person owns a property in a foreign country. If the person decides to sell the property, then he/she owes capital gain taxes. Now here is a gift scheme to ...
- 117
0
votes
1
answer
77
views
Germany GmbH shareholder living in another EU country
When an EU citizen who is holding shares of a GmbH decides to move to another EU country, what are his obligations to the tax office and the state?
- 109
9
votes
2
answers
4k
views
Whose responsibility is VAT?
Circumstances:
I have engaged a local building company to quote for works in my home. He provided a quote of £12k, which included VAT. I called him to haggle the price, and he said that if I paid him ...
1
vote
1
answer
451
views
Where in law are churches exempt from Form 990?
Churches enjoy non-profit status without complying with most non-profit disclosure requirements. From the IRS website: "Generally, tax-exempt organizations must file an annual information return (...
- 195
2
votes
0
answers
58
views
What is necessary to restart NJ's rebate program for electric vehicles?
NJ has a program which provides a substantial rebate on the purchase or lease of an electric vehicle.
I had learned that NJ had paused the program effective November 21st of 2023 due to the relevant ...
- 2,560
4
votes
1
answer
629
views
Does OpenAI get any tax benefits from its organization structure?
At this point most people know OpenAI, one of the hottest companies in America. It has the following strange organization structure:
My question is whether this gains them any tax benefits? Is this ...
- 203
1
vote
1
answer
120
views
Can people legally perform services for others without declaring themselves to be an offical self-employed organization?
A person would like to provide home services for some of his neighbors.
Is it necessary to set up an official business and employ himself -- perhaps for purposes of sales-tax compliance?
2
votes
2
answers
272
views
Does the Canadian government translate court cases from English to French and vice versa?
I am currently reading through various tax judgments when a specific case caught my attention.
Racine; Demers et Nolin v. Ministre du Revenu National, 1965 CanLII 1108 (CA CÉC), 2 RC de l'É 338
...
- 2,060
5
votes
1
answer
469
views
What is the legality of a 0% interest unsecured loan?
I have heard that these are legally stigmatised/frowned upon, and subject to various different types of restrictions, I think mainly for tax reasons.
But a recent answer describes this as a seemingly ...
4
votes
1
answer
694
views
Why would a 501(c)(3) nonprofit organization run its major operations in an LLC?
I was looking into the corporate structure of the Signal App, and it's very strange from the non-lawyer (IANAL) perspective.
The parent organization is a 501(c)(3) nonprofit, but the app is developed ...
- 151
1
vote
2
answers
68
views
How does gift tax work for unmarried households?
Say Ash, Bret, and Charlie decide to form a household.
Ash has a house that would rent for $10,000 a month, Bret has three extremely expensive cars, and Charlie has a huge collection of very valuable ...
- 3,847
23
votes
1
answer
9k
views
Is it illegal to have a product delivered to a different ZIP code to pay less sales tax?
Me and my friends were chatting in dinner in California. Some were complaining about the high sales tax rate in our state. One suggested that if any of us had an Oregon address, we could have our ...
- 239
0
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0
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146
views
Is it legal to do lots of imports £1 below the limit to not have to pay import duty?
Recently (since Brexit?) the UK tax law has been changed to require foreign online retailers like AliExpress to charge UK VAT @ 20% at the point of sale.
If an order is placed for > £135 then as ...
- 871