Colorado Tax Legal Questions

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63 legal questions have been posted about taxation by real users in Colorado. Ask your question and dive into the knowledge of attorneys who handle your issue regularly. Similar topics to explore also include estate and gift taxation, income tax, and tax audits. All topics and other states can be accessed in the dropdowns below.
Colorado Tax Questions & Legal Answers - Page 3
Do you have any Colorado Tax questions page 3 and need some legal advice or guidance? Ask a Lawyer to get an answer or read through our 63 previously answered Colorado Tax questions.

Recent Legal Answers

Can I comprise with the IRS when I already have an installment agreement?

Answered 13 years and 2 months ago by Derek N. Hatch (Unclaimed Profile)   |   7 Answers   |  Legal Topics: Tax
Yes, you can make an Offer in Compromise at any time as long as you are current on your filings and payments.
Yes, you can make an Offer in Compromise at any time as long as you are current on your filings and payments.

Can I comprise with the IRS when I already have an installment agreement?

Answered 13 years and 2 months ago by Charles Richard Perry (Unclaimed Profile)   |   7 Answers   |  Legal Topics: Tax
Nothing prohibits you from making an offer to change the terms of your agreement with the IRS. By the same token, nothing requires the IRS to accept your offer.
Nothing prohibits you from making an offer to change the terms of your agreement with the IRS. By the same token, nothing requires the IRS to... Read More

Is it legal for IRS to wipe out my bank account without any notice to my employer or me?

Answered 13 years and 2 months ago by A. Antonio Tomas (Unclaimed Profile)   |   5 Answers   |  Legal Topics: Tax
They are required to send you a notice of intent to levy prior to issuing a levy on your bank account. They probably did send it, but you disregarded it (that is what most people do). I suggest you contact a tax attorney pronto.
They are required to send you a notice of intent to levy prior to issuing a levy on your bank account. They probably did send it, but you... Read More

Is it legal for IRS to wipe out my bank account without any notice to my employer or me?

Answered 13 years and 2 months ago by Derek N. Hatch (Unclaimed Profile)   |   5 Answers   |  Legal Topics: Tax
The IRS is required to send out a Letter 1058, Final Notice of Intent to Levy, and allow you an opportunity for a hearing before they can levy your property (i.e., bank account, wages, etc.). It is sent by certified mail to your last known address. Notwithstanding this, IRS will agree to release all or part of the monies levied in your bank account under limited circumstances. It's best to contact a professional and request IRS to release the levied funds.... Read More
The IRS is required to send out a Letter 1058, Final Notice of Intent to Levy, and allow you an opportunity for a hearing before they can levy your... Read More

Can an accountant hold my tax info to do my 2011 tax return?

Answered 13 years and 3 months ago by Neil A. Sussman (Unclaimed Profile)   |   3 Answers   |  Legal Topics: Tax
Try asking the accountant to return your information to you. Ask politely. And if you owe the person money for prior work, expect to pay it before you get your information back.
Try asking the accountant to return your information to you. Ask politely. And if you owe the person money for prior work, expect to pay it before... Read More

What is the income taxes for short sale versus foreclosure?

Answered 13 years and 4 months ago by Neil A. Sussman (Unclaimed Profile)   |   3 Answers   |  Legal Topics: Tax
If you do a short sale in 2012, it is possible that some or all of the debt forgiven will not be taxable. The rules may change for 2013. I can not give a more specific answer without knowing more specific facts about your situation. I am not familiar with bankruptcy law, so I can not tell you what happens if you claim bankruptcy and let the house go into foreclosure.... Read More
If you do a short sale in 2012, it is possible that some or all of the debt forgiven will not be taxable. The rules may change for 2013. I can not... Read More

What can I do if the Internal Revenue Service treats me single when Iโ€™m married?

Answered 13 years and 5 months ago by Neil A. Sussman (Unclaimed Profile)   |   2 Answers   |  Legal Topics: Tax
In place of a social security number, your wife can apply for a different type of tax identification number. This different number is called an Individual Taxpayer Identification Number or ITIN. You would use Form W-7, which you can download from the IRS web site, to apply for this number. Once your wife has gotten her ITIN, it can be listed on the tax return in place of a social security number. Then, you and your wife can file a joint return. Since you are a legal permanent resident of the US, you can file a joint return with a spouse who is? a non-resident alien, as long as she has gotten her ITIN.... Read More
In place of a social security number, your wife can apply for a different type of tax identification number. This different number is called an... Read More

What can I do about a bank levy?

Answered 13 years and 6 months ago by Dale L. Heider (Unclaimed Profile)   |   1 Answer   |  Legal Topics: Tax
Call the IRS number listed on the Notice of Levy and gather your financial information so you can show "hardship" to IRS.
Call the IRS number listed on the Notice of Levy and gather your financial information so you can show "hardship" to IRS.

How can I pay for the $10,000 property back tax so I do no lose my house?

Answered 13 years and 6 months ago by Paul Arnold Nidich (Unclaimed Profile)   |   2 Answers   |  Legal Topics: Tax
I'm sorry, but I need more information. How did you get this property? How long have you failed to pay your property taxes? Has a lawsuit been filed? Has there been a judgment of foreclosure? Etc.
I'm sorry, but I need more information. How did you get this property? How long have you failed to pay your property taxes? Has a lawsuit been... Read More

Does an accountant own his prepared work papers until all fees are paid?

Answered 13 years and 6 months ago by Dale L. Heider (Unclaimed Profile)   |   1 Answer   |  Legal Topics: Tax
Yes, before and after payment.
Yes, before and after payment.

Should my broker hold money out of my commission check for a personal tax issue with IRS?

Answered 13 years and 7 months ago by John F. Brennan (Unclaimed Profile)   |   2 Answers   |  Legal Topics: Tax
If the IRS is garnishing you, the brokerage has no choice.
If the IRS is garnishing you, the brokerage has no choice.

Can the state come after any of the siblings for the back taxes?

Answered 13 years and 7 months ago by Charles Richard Perry (Unclaimed Profile)   |   2 Answers   |  Legal Topics: Tax
In general, the governmental entity to whom the taxes are owed have a lien against the house. That tax lien may or may not be paid off during the foreclosure process. If the taxes are not paid through a foreclosure sale, then it may be possible for the government to pursue your mother's estate, and trace the assets to your siblings. Your sibling's liability, however, would be limited to the amount of their inheritance. It is quite likely, however, that the taxes will be paid off during any sale of the foreclosed property.... Read More
In general, the governmental entity to whom the taxes are owed have a lien against the house. That tax lien may or may not be paid off during... Read More

How involved can a non-profit corporation get involved with a for-profit corporation?

Answered 13 years and 7 months ago by Richard Allen Block (Unclaimed Profile)   |   2 Answers   |  Legal Topics: Tax
This question cannot be answered without more information. Is "legality" a question of state law or federal tax law? Should lawyers be concerned with the ethics of their clients' business activities? Etc.
This question cannot be answered without more information. Is "legality" a question of state law or federal tax law? Should lawyers be concerned... Read More