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What can be done if a family member refuses to pay their part of the taxes on family owned land?
It depends on your jurisdiction's laws and whether there's any kind of agreement among the family members. The agreement may not have to be in writing where you are, but it may too and always helps, but it may be enough if the family can show a pattern of sharing over a decent amount of time. The question is why would a family member refuse, jeopardize family harmony and the loss of equity? If they want out, then maybe it's time to negotiate a buy-out through an agreeable appraisal and if the person still refuses then the family might have to consider what's called an action for "partition" where joint ownership is split up; this can backfire. If the person has no money, the family can loan the funds but it needs to be in writing. Or a fractional interest equal to the amount of the value of the land that is not being paid can be taken off by deed but that kind of arrangement can be complicated and there can be other consequences. These are just some thoughts; the family may need to involve an attorney to figure out all the options and what's going on with the refusing family member.
What else can I help you with?
Does a member of the House of Representatives have to pay taxes?
Yes, they do
What happens to unused Coverdell funds?
Unused Coverdell funds can be transferred to another eligible family member's account or withdrawn by the beneficiary, but if withdrawn for non-educational purposes, taxes and penalties may apply.
What are the tax implications of receiving a mortgage gift from a family member?
When you receive a mortgage gift from a family member, you generally don't have to pay taxes on the gift itself. However, there may be tax implications for the giver if the gift exceeds a certain amount, which is subject to gift tax rules. It's important to consult with a tax professional to understand the specific implications in your situation.
Should I withhold taxes from Paid Family and Medical Leave (PFML) benefits?
Yes, you should withhold taxes from Paid Family and Medical Leave (PFML) benefits as they are considered taxable income by the IRS. It is important to report these benefits on your tax return and pay any applicable taxes to avoid penalties.
What are the California itemized deductions for property tax?
California allows taxpayers to deduct property taxes as an itemized deduction on their state income tax return. This deduction includes property taxes paid on real estate owned in California, as well as any personal property taxes paid on items like vehicles or boats.
I had a family member pay for my real estate tax for the first half of this year in Ohio it is a tax break if you pay your taxes can I pay them back before the end of the year to claim it on my taxes?
The property taxes tat the family member paid for you could have been a gift to you.
Why does Miss Emily refuse to pay taxes in A Rose for Emily?
Miss Emily refuses to pay taxes in "A Rose for Emily" because she believes that her family has been exempt from taxes since her father's death. She clings to the idea of her family's former status and refuses to acknowledge the changing times and laws that apply to everyone, regardless of their social standing. Her refusal is a way for her to assert control and maintain her sense of power and superiority in the face of encroaching modernity.
How much money can you give someone and not have pay taxes?
You can gift up to $13,000 to another family member and I think up to $10,000 to a non family member but, you need to check with your tax consultant because this is like anything else to do with taxes. It can change on a whim.
What is it called when a citizen refuse to pay their taxes?
When a citizen refuses to pay taxes it is called tax evasion.
When giving a car as a gift in Texas is a mother-in-law considered a parent?
No, you can only give a car to a immediate family member and not pay taxes on the gift. A mother-in-law is not a legall family member.
When are income taxes applied to the interest earned by business-owned annuities?
When are income taxes applied to the interest earned by business owned annuities
When are income taxes applied to the interest earned by business owned annuities?
When are income taxes applied to the interest earned by business owned annuities
What are federal estate taxes?
Federal state taxes are taxes to be paid to the federal government on owned property. Theses taxes are to be paid once a year.
Can a property that was sold for taxes be included in an estate?
No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.
Do you need a tax number if you are the executor of a decesed family member?
In the US, the estate needs a tax number. It ensures that the proper taxes are paid to the government.
Do you report the sale of land to a family member?
You need to report the sale. The deed needs to be reported, the taxes evaluated and their may be income tax consequences.
What type of tax must be paid if owning a home?
Property taxes or real estate taxes on the home that is owned.
