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The Internal Revenue Service's policy is to be reluctant to foreclose on taxpayer's homes to enforce these liens, often only being satisfied if the real property is sold or mortgaged before the tax lien expires. Florida's Supreme Court recently held Florida's homestead exemption may be waived in the limited exception of a bankruptcy proceeding. [3]
RTC literature in the Federal Deposit Insurance Corporation history exhibit. The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company first run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office ...
Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands. Taxpayers who hold real estate as inventory, or who purchase real estate for re-sale, are considered "dealers".
A property owned by Rudy Giuliani in Palm Beach, Florida, has been placed under a federal tax lien by the Internal Revenue Service as he owes more than a half-million dollars in unpaid income ...
Negligence by the attorney, A loss or injury to the client caused by the negligence, and; Financial loss or injury to the client. To satisfy the third element, legal malpractice requires proof of what would have happened had the attorney not been negligent; that is, "but for" the attorney's negligence ("but for" causation). [3]
Penalty for Failure to Timely Pay Tax: If a taxpayer fails to pay the balance due shown on the tax return by the due date (even if the reason of nonpayment is a bounced check), there is a penalty of 0.5% of the amount of unpaid tax per month (or partial month), up to a maximum of 25%.
The site posts news and commentary on climate change and other environmental issues affecting Florida. This article originally appeared on Palm Beach Post: Congress should adopt a federal ...
The good news is the IRS offers a variety of tax debt relief options to help you out. If you don’t believe you’re a good candidate for tax debt relief, there are alternatives at your disposal.