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Showing results for tags 'tax'.
I opened my mail box today morning and found a 1099 B of A. It has last years date on it with a not saying cancellation of Debt. How do I go about question the authenticity of this debt? Do I send them a DV letter asking them to prove that this was my debt? I have already disputed the debt with the Experian and I came back “validated” but I have received any collection letter of phone calls from the OC nor have I and JDB contact me. Whats your advice? Can anyone refer me to where I can find some helpful information? Thanks
Hello All, Just a question: Are settlements or awards obtained from a TCPA case taxable? The information I've searched online doesn't address it specifically, however, I have found some articles that indicate that damages that aren't physical are indeed considered revenue. Lets say for sake of discussion that the settlement is for $100,000. Mr Diligent Attorney takes his 33% slice of the award. As the Plaintiff are you taxed on the entire $100,000? Or just the $66,500 that ends up being your share of the award? I never thought I'd be in a position to be pondering this type of issue! I did have a coworker who also owns a business give me a valuable piece of advice. If you ever end up in this type of situation and you're at the beginning of a tax year, be sure to pay the IRS within the quarter that the settlement occurs. I guess if you wait until the end of the year you would likely be penalized for underpayment. Just curious if anyone has had this experience before. I must say that I'm enjoying being on the this side of the coin and sticking it to these assclowns. Thanks in advance, W.T.
Has anyone dealt with and had success with vacating a NY tax warrant? The story is as follows - I worked two jobs for a few years. This year, apparently the IRS modified one of my W2s from 2008 which then changed what my state return should have been. I received a bill from NY Tax and Finance sometime in the middle of last year (around June). I moved a few weeks later and kind of forgot about it. So, in around November I received another bill and went through my tax info to try to figure it out why (the bill said nothing about why I owed the money). A couple weeks later I checked my credit karma score (I do every morning) and was shocked to see it drop about 40 points because of the addition of a public record (tax warrant). So I immediately went online and paid the bill. I called and they explained why I had owed the bill. Now, mind you, this was a $298 bill from something that occurred this year in relation to a change made on my 2008 return. The guy that I talked to at the collections office of NY T&F told me that I could write a letter to the Tax and Finance Correspondence Office to "plead my case" to ask to have it vacated. He said in 30 - 60 days I would receive a letter of satisfaction but that I could send the letter to Correspondence now if I wanted. I wrote them a letter basically outlining how it was a very innocent mistake, for a small amount of money, from a change I did not understand that I paid immediately. Saying how I've been working on my credit, want to buy a house soon and this is going to really ruin my chances. Asking them out of the kindness of their hearts to help me, etc. I sent it a few weeks ago and haven't heard anything yet. I know things work slowly with state bureaucracies but I am really freaked out by this. Has anybody had any experience with this? Any idea what I should do? I really appreciate any assistance at all because I have been working so hard to clean up all of the negatives on my CR, have been very responsible the past few years and this is really just a huge setback for me. Side note, I have heard that it is almost as bad to have a paid lien as it is to have it sit unpaid (like a paid collection). Also, does having the warrant vacated actually remove it permanently from my record so that it doesn't show up on my credit?
I am really confused about this topic. There was a tax warrant placed on me for less than $300 for something that I was unaware was happening. It was an innocent mistake. I paid it immediately and sent a letter to the NY tax correspondence department. I then followed up today (3 weeks after I sent the letter) and asked if there was somebody I could talk to in order to have the warrant vacated. First he told me they only did that if the warrant was placed in error or if I paid it before it was placed. I paid it about 3 days after and was unaware it was being placed it was for around $300. So anyways, I ask "so this $300 bill that I was unaware of is going to screw me for like seven years now?" The guy tells me that having a warrant vacated does not remove it from credit and that it is the same thing as a satisfied warrant. He said "from experience in the banking industry once it is satisfied it doesn't negatively affect your credit. So it won't screw your credit if it is paid." This really runs counter to everything that I have read. A) Does having a warrant vacated remove it from your credit history? Is having it vacated the same as satisfied as far as credit is concerned? C) Does having a paid/satisfied warrant not affect your credit? D) Is there anything I can do about this?