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Iowa Tax Law Questions & Answers
1 Answer | Asked in Tax Law for Iowa on
Q: What's the best thing to do to avoid big tax liability on land inherited 50 years ago?

My mother-in-law owns a large tract of land in Iowa with her sister. Her sister recently died, so her portion will be inherited by her 3 children. My mother-in-law wants to know the best thing she can do with her portion. She's worried if she decides to sell her property, she will be paying... View More

James L. Arrasmith
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answered on May 7, 2024

There are a few strategies your mother-in-law could consider to minimize tax liability on the inherited land:

1. Step-up in basis: If she holds onto the property until her death, her children will receive a "step-up" in cost basis to the fair market value at the time of her death....
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1 Answer | Asked in Estate Planning, Family Law, Tax Law and Collections for Iowa on
Q: Could someone help with tax audit concerns and potential either fraud or actual Bonds and assets owed to me or family?

I'm in a very compromising concerning tax situation this year for 2023 apparently I have been investor IRS tax fraud as a beginning 2019 tax return 2020 and 23 I did file my tax return for 23 where was then audited and still currently being audited for tax fraud and investigation I don't... View More

James L. Arrasmith
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answered on Apr 15, 2024

It sounds like you are dealing with a complex and stressful tax situation. Here are a few suggestions for next steps:

1. Gather all relevant tax documents and records, including past returns, W-2s, 1099s, receipts, etc. Having everything organized will help in addressing the audit....
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1 Answer | Asked in Real Estate Law, Tax Law and Municipal Law for Iowa on
Q: So my city council has an ordinance stating everyone has to have garbage service. My question is in several parts.

Is it legal for them to put my bill on my property taxes but continue to bill me for it without starting over? And if it is then is it legal for them to keep adding it to my taxes. Like lets say the first bill is 3 months late and its 300 dollars.they add that to my property taxes. Then three... View More

James L. Arrasmith
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answered on Mar 8, 2024

Municipalities often have the authority to enforce ordinances requiring residents to maintain garbage service, and they can implement various measures to ensure compliance, including billing methods. The practice of adding unpaid garbage service bills to property taxes is a common approach used by... View More

1 Answer | Asked in Tax Law for Iowa on
Q: My husband forged my name on state & federal tax forms last year. These were prepared by h&r block. do I have any recour

This prepare has been our tax lady for almost 7 years. She signed off on these documents with my forge signature.

James L. Arrasmith
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answered on Feb 22, 2024

If your husband forged your signature on state and federal tax forms, and these were submitted by your tax preparer, you do indeed have recourse options to consider. First, it's crucial to address the situation with the tax preparation service, specifically with the individual who has been... View More

1 Answer | Asked in Tax Law for Iowa on
Q: Filed last yr. with long time tax attorney. He did not notice my 1099 was missing. IRS wants unpaid taxes from me. Does

he have any liability for this. Said he overlooked it and was sorry.

John Michael Frick
John Michael Frick
answered on Mar 24, 2023

Yes, he is potentially liable for any interest and/or penalties. However, it is likely the IRS will waive any penalties under the circumstances presented.

Of course, you are still liable for the unpaid taxes which you would have had to pay last year had your accountant not overlooked your 1099.

1 Answer | Asked in Tax Law for Iowa on
Q: Can my fiance claim me on taxes?
Agustin  Arbulu
Agustin Arbulu
answered on Jan 25, 2022

This is very interest question and suggests that your fiance wants Head of Household (HOH) status to take advantage of the lower tax rate and higher standard deduction. To qualify for HOH your fiance must:

1. Pay for more than half of your household expenses (such as groceries, rent,...
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1 Answer | Asked in Tax Law for Iowa on
Q: I owe back taxes. Should I hire a tax attorney?

My husband passed away 9 months ago. We were five years behind. I have them filed now. I owe quit a bit to the irs.

Eric  Day
Eric Day
answered on Mar 1, 2021

It depends on how much you owe and some other factors with the innocent spouse possibilities. I would be happy to discuss with you if needs be 702-309-3333

1 Answer | Asked in Tax Law for Iowa on
Q: Y do i pay taxes I thought it was no taxation without representation
D. Mathew Blackburn
D. Mathew Blackburn
answered on Jan 9, 2020

Not a real rule. People pay taxes without being represented all the time.

1 Answer | Asked in Business Formation, Tax Law and Business Law for Iowa on
Q: What is the least expensive way to buy into an LLC with regard to Iowa and federal tax cost?

Father and two siblings put farm into LLC (split 50/25/25). One of the siblings is going to nursing home and selling their membership units (25%). An agreed price has been established for units. Should the LLC buy the seller's units and then sell them to me? OR Should I buy into the LLC first?... View More

D. Mathew Blackburn
D. Mathew Blackburn
answered on Aug 20, 2019

You need to hire a professional. There's a few things in your question that are not correct in regards to how an LLC functions. You're going to need more detailed advice than should be given through this forum.

1 Answer | Asked in Real Estate Law and Tax Law for Iowa on
Q: I live in Iowa and have court established homestead rights, can the county I live in sell my property due to back taxes?
D. Mathew Blackburn
D. Mathew Blackburn
answered on Jul 8, 2019

Under 561.1 of the Iowa Code past due taxes to the State of Iowa and Iowa counties or municipalities are specifically exempt from the homestead laws.

The county can and will auction your property to satisfy past due to back taxes.

I would suggest contacting the tax authority to...
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2 Answers | Asked in Intellectual Property and Tax Law for Iowa on
Q: I am disabled I got a letter say I had to pay the last half of my property tax by may 15 or the sell what can I do

I paied the first half and wont have the money for the last half till June 3

D. Mathew Blackburn
D. Mathew Blackburn
answered on May 2, 2019

Call the county assessor and tell them you need more time to pay the tax. They'll tell you your options.

Or hire an attorney.

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1 Answer | Asked in Tax Law for Iowa on
Q: Donation Receipts for New Type of eBay Charity Donation

I wanted to establish a new type of charity sale. A seller would list items for sale and upon purchase the seller would deliver them to a charity designated within the listing. The seller would obtain a drop-off receipt from the charity and mail or message a copy to the buyer to use for their... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Apr 18, 2019

You are not asking general legal questions; you are seeking about $2,000 worth of free professional legal advice regarding the establishment of what appears to be a workable idea--if a lawyer is involved from the get-go. Suggest you hire a good lawyer and invest in their advice--before you make a... View More

1 Answer | Asked in Tax Law for Iowa on
Q: Do I owe the IRS money for my ex boyfriend claiming my kids on his taxes?

.

Linda Simmons Campbell
Linda Simmons Campbell
answered on Nov 16, 2017

You are not responsible for his tax debt. The IRS will not send you a bill because the debt is his not yours. The amount that he is telling you he owes is not unreasonable. Unless you or your children made over $4050 than he was allowed to claim the children if he was providing more than half of... View More

1 Answer | Asked in Tax Law for Iowa on
Q: is there any way to stop a tax refund garnishment for a student loan debt?

I have set up a monthly payment plan

D. Mathew Blackburn
D. Mathew Blackburn
answered on Jan 20, 2017

No

1 Answer | Asked in Tax Law for Iowa on
Q: I formed an S corporation last year -- paid all necesary fees-do I need to pay an annual fee to have a registered agent?
Terrence Jay Moore
Terrence Jay Moore
answered on Oct 20, 2013

No, not if you live in the state of incorporation. Then you can be the agent. If you don't want to be the agent you will need to pay for one.

2 Answers | Asked in Tax Law for Iowa on
Q: I owe 2,000.00 in back taxes can the irs take away my passport
Mr Jeffrey D Heck
Mr Jeffrey D Heck
answered on Feb 5, 2011

Never seen the issue arise. Not likely to be an issue unless a judge is involved and considers you a risk to evade the court's authority by fleeing the country.

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