Unmarried Couple Buy A Home - Tax Considerations?
My girlfriend and I purchased a home together in California. We earn similar incomes (70-80k each). We share adjectives expenses equally. We have made some joie de vivre efficient improvements to our home. Do we call for a CPA or tax professional to profile our taxes or will tax software suffice? I enjoy always file my taxes using tax software near no problems. Any advice or resources are greatly appreciated. How can we maximize our repayment?Answers: you can still file in somebody`s company and just approaching a married couple does doing that way you also receive tax breaks unlike singles
When you get a levy on your taxes (property) from the IRS what does that mean?
Answers: It's similar to a "mechanics lien" in that the IRS has put a claim on your property that you must clear up before you can sell the property. If the levy is on a bank account, they will take the money out of the account. Somethimes they can even force sale of property to collect the back taxes. In any event, a "levy" letter from the IRS should not be ignored. You should call them right away and deal with the levy, work out a payment plan, etc.
A levy means IRS is seizing the property.
A lien, or more properly a Notice of Federal Tax Lien, filed against the taxpayer is the equivalent of having a judgment filed against him. The lien has to be cleared from the property before it can be sold free and clear.
I am an enrolled agent, licensed by the US Treasury Dept to represent taxpayers just like CPAs and attorneys and specialize in this kind of problem. If you want some information outside this forum, you can email me through my profile.
Divorced parents next to children, tariff cross-examine..?
My ex and I have two dependent children together. It be in our divorce agreement that we respectively claim one child for our taxes every year. We have communal custody and she has primary placement. Last year be the first year we filed apart. We both stir to the same place to go and get our taxes done. My ex claimed both our kids for the EIC child tax credit, because the levy preparer told her to (because she has primary placement). I go to the same place and told the accountant that it be in our divorce agreement to respectively claim one child, and the women said "that it doesn't matter, she get to claim them both." Anyone know if that is true that she can claim them both even if it's contained by our Divorce Agreement to each claim one? What would occur if we both claimed our children for the tax credit? I'm thinking of claiming them both since she did it to me ending year.Answers: OK, I speak from experience on this one, so hear me out.
DO NOT claim them this year!! (without making sure you are the only one claiming them) Either achieve your taxes done at the same place at like time, or forget it. Legally the custodial parent claims the kids. However, if it IS documented in your divorce/custody papers that you respectively claim one child, then you involve to take a copy of that demand to the tax place. There is nought preventing her OR you from claiming one or both the children. But, if you claim them this year, and she does as well, you find yourself face with an audit. They will require doctor's files with YOUR address, arts school records, time care archives and anything else they ask for in lay down for you to get your charge refund. If your ex have her address listed on adjectives or even one of these documents, you will get nought for your time and trouble. This is the biggest pain the butt. I be audited for 4 years in a row. I am the custodial parent, and it be never agreed that we would each claim one, but every year my ex-husband would claim one of the kids (randomly, lacking telling me which one) and I would catch audited every time. The kids were too childlike to be in college, so all I have to go on be Doctor and day contemplation records. But because he provided strength insurance, he would change the address at the doctor's department and get a printout, and it prevented me from getting my EIC every year!