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Tax Law Questions

What is tax law?

Tax law is a set of rules and regulations that govern the calculation and collection of taxes. These laws may differ depending on the kind of tax that is being levied like income tax, sales tax, property tax, etc. Given below are important questions about the laws governing taxes that have been answered by the Experts.

Can the IRS be forced to collect taxes from an individual by a tax court?

The tax court may not force the IRS to collect tax from an individual. The court may only resolve a dispute in favor of or against a tax payer. If the dispute is resolved against a tax payer, then the IRS may decide if it wants to collect the tax from the individual or not.

Would an individual be taxed for the money that he/she inherits as a beneficiary of an estate?

Any money that an individual inherits as a beneficiary of an estate may not be taxed. The estate may pay the taxes on the money.

What is the federal tax law about income tax?

The federal law states that “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

Can the IRS seize an individual’s out of state assets for tax payments?

The IRS may be able to seize an individual’s out of state assets for tax payments if they are able to get a judgment against the individual in the court. Once the IRS gets a judgment in one state, they can use this judgment in another state and pursue the individual for tax collection.

How is the value of a residential property calculated while determining real estate tax in Virginia?

According to the real estate tax law of Virginia, the value of a residential property may be calculated at a fair market value while determining the tax to be paid.

Would an individual be taxed for purchasing any kind of commodity from another person?

An individual may not be taxed for purchase of any commodity from another person. If the individual transfers money to another person, then the person receiving the money may be taxed if it is more than $13,000.

How would the tax refund be distributed in case of a divorce if the tax return was filed jointly by the couple?

If the tax was filed jointly by the couple, then the tax refund may be considered to be community property in case of a divorce unless the divorce decree states otherwise. If the divorce case is still pending and the individual wants to withdraw his/her refund, he/she may request the court to divide the refund like the other marital property. However, if the divorce is finalized, the individual may have to sue the spouse for his/her share of the refund.

Under the tax law of Maryland, what would qualify as deductible alimony?

In order to qualify as deductible alimony in Maryland, the payments that an individual makes to his/her spouse may have to fulfill all of the conditions given below:
• The payments may be made either by cash, check or money order
• They may be received by the spouse or by someone on behalf of the spouse under a divorce document. This may also include payments made to a third party like medical expenses, taxes, etc on behalf of the spouse
• The couple should not have opted out of alimony
• If the divorce has been finalized and the couple has been given the final judgment, the couple should not be staying in the same house when the payments are being made.
• The individual may stop the alimony payments at the spouse’s death
• The couple, after divorce may not file joint tax returns
• Any part of the payment that is given as child support may not be considered as alimony.

There may be various tax laws in different states of the US. These laws may sometimes differ in each state. It is important for you to understand the laws that apply to your income level in your respective state. You may ask an Expert if you need any kind of help in understanding these laws.
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