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Do i have to report lawsuit money on income tax return? answers (470742)

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Q: 

If a person loses their house to foreclousre is it true that you have to pay the IRS tax on the banks loss?

A:  Yes. For example: You owe $100,000 on your house and it is foreclosed on. The bank sells the house for $80,000. If it is a recourse loan (most are) and the bank forgives the $20,000 shortfall, the $20,000 is considered income to you and subject to income tax. One caveat: If you are bankrupt or insolvent at the time of the debt forgiveness, you do not have to report the shortfall as income (see IRS Form 982). If your house if foreclosed on or your car repossessed or any debt canceled, you have Cancellation of Debt (COD) income. This is reported to you and IRS on 1099C. It is reported on your...

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A pedestrian ran into my moving car and is suing me. I don''t believe that I am at fault and I have two eyewitnesses who believe the same. Should I hire an attorney myself or should my car insurance be handling this?

A:  Good news. If you have automobile insurance you do not have to worry about hiring an attorney on your own. Under all automobile policies that I have ever seen or heard of your insurance company has a legal and contractual duty to defend you and to pay for the cost of your defense. Typically, however, you do not have a say in the attorney who is selected to represent you, since this decision to left to your insurance company to make. There are exceptions to this general rule and you might even, should you wish to exercise it, have some say in which New York firm is hired to represent you. OK. So what do you do now? Simple. Contact your insurance company and let it know that you have been sued, send them a copy of the lawsuit, sit back, and they?ll take care of the...

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Is workmen''s compensation benefits subject to state and federal income tax?

A:  Do you pay federal tax on worker compensation income in the state of florida?  Where does worker''s compensation income go on federal form 1049?  Do i have to report workmen''s compensation income on my taxes?  Do you pay federal taxes on workmen''s compensation?  Declare workmen''s compensation tax return?  Workmen''s compensation tax?  ...

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I am currently a freshman in high school. There was recently a bomb threat called in to my school. I had bragged to some of my friends on the day of the bomb threat that I had a pretty good idea about who had made the call. Well, somehow it got back to the principal of my school that I knew who did it and subsequently I was questioned. Can they legally make me tell them who I think (or who they think I know) made the bomb threat? I am aware that if they find out that I am withholding information I could get in trouble. But, like I asked, do I actually have to tell them who it was or could have been just because some people told them that I know? Also, can they make me take a lie detector test and can this test be used as evidence in a court of law?

A:  No, you do not have to answer any questions or supply names to the authorities. Neither you nor anyone else has a legal obligation to assist the police in solving a crime. While you may feel morally obligated to do so, you should not confuse this with a legal obligation. There is none. No one can make you take a polygraph. Even if you did take a polygraph, it would not be admissible against you in court. If you are even thinking about taking a polygraph, you should seek legal counsel first. If you are concerned about appearing non-cooperative, you might write a note to the principal stating that contrary to what they have been led to believe, you don''t know the identity of the person who made the bomb threat and that you refuse to supply names based on rumor, innuendo and speculation....

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What happens if I decided to change from full-time to part-time status and the payroll department kept paying me for full-time work, even though I only worked part-time? This continued for six weeks after I made the change. I called payroll and left a message, but no one called me back. Now my work has told me that I owe them over a thousand dollars, which I do not have. They did not give me anything explaining the amount, just a figure, and instructions to pay within several days. I do not have the money and I don''t know what to do

A:  As a full-time worker, you were entitled to the pay for the number of full-time hours you worked. Likewise, unless you had some agreement with your employer stating otherwise, as a part-time worker, you were entitled to the pay for the number of part-time hours you worked. It sounds like the paperwork documenting the change in hours status which YOU requested took some time reaching the payroll department.Although you did call payroll, they likely had to research and verify your message about the discrepancy in pay before taking any action. After your employer did that, it took immediate action and notified you of the overpayment. The difference in pay between your part-time hours you actually worked and the full-time paycheck you received was an overpayment to which you were not entitled....

Q: 

Do I need a lawyer to apply for removal of conditions on my green card after two years of marriage?

A:  No. You can file the I-751 yourself. It''s simple. Don''t fool around with this. File 90 days before the card expires and under NO circumstances file late. I filed for my husband without a lawyer. It is pretty easy and straight forward, although it took us a long time to get everything final, he did get his ten year card. You can do it by yourselves if you can follow basic instructions. File _within_ 90 days. The "argh, do I have to file on that exact date?" question has led to many a soiled pair of undies ;) yes, the 90 days in advance is standard, to give time for the paperworks to get done, hopefully before the greencard expires .. if you can do it earlier, so much the better....

Q: 

I wrote a ''treatment'' for a television show and registered it online, over 2 years ago. I sent that show to a few people and it was reviewed by many people. It was passed on. However, I have just learned it was being brought into production by a major network! It is word for word as I have written it. Is there any recourse for me? And what kind of lawyer handles that sort of thing?

A:  Assuming your ''treatment'' contained enough original expression to constitute a copyrightable work, then any use of that work without your permission would constitute infringement of your copyright. Section 106 of the Copyright Act sets forth the rights of a copyright owner as follows: [T]he owner of copyright under this title has the exclusive rights to do and to authorize any of the following: to reproduce the copyrighted work in copies or phonorecords; to prepare derivative works based upon the copyrighted work; to distribute copies or phonorecords of the copyrighted work to the public by sale or other transfer of ownership, or by rental, lease, or lending; in the case of literary, musical, dramatic, and choreographic works, pantomimes, and motion pictures and other audiovisual works,...

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My boyfriend was arrested for assault even even though I did not want to press charges. I have been summoned to court. Will the charges be dismissed if I do not show up or will I get into trouble?

A:  If you have been summonsed for court, you must appear. If you do not, an arrest warrant may be issued for your arrest.Many women do not want to testify against their loved ones in a domestic violence situation. However, while you may be the alleged victim, it is the people of your state who are the party of interest in the case. Thus, it is up to the prosecutor whether you must appear and testify--even if you do not want to. In most states, prosecutors will compel an alleged victim of domestic violence to testify against their partner.My best advice to you is to obey the subpoena, share your feelings with the prosecutor, and if called to the witness stand, tell the truth. -- Jeralyn Merritt...

Q: 

My wife and i have sex frequently. But everytime we do i end up doing all of the work. What should i do?

A:  Keep trying to put her in a position to do the work, and she will say, what are you doing or she will do it. I would check the foreplay, make sure there is enough. Good luck. tequila turns every girl into a porn star dont give her any.................. tease her then say..ohh im tired cause i have to make all the effort all the time .............. either that or sit down with her and say why do i have to be the one that makes ALL the effort with sex. good luck Why don''t you talk to her about it if it bothers you. You have to guide her and tell her to get into different positions some of the time. find positions that are less work for you. Stand at the side of the bed or lay behind her in the spoon position. put a pillow under her back and you won''t have to lunge as hard downward with...

Q: 

What do you think of Paris having to go back to jail?

A:  Non-violent, misdemeanor offenders like herself should get house arrest and leave the jail cells for violent criminals. The original sentence was ridiculous. I have to aree with you on this. She deserves jail time, but the courts need to quit messing around with this case. What they did to her was ridiculous.... yes, but in the end I bet she sues and gets a big fat check I agree, but then again you get what you deserve out of life, besides she''s already been pulled over with a suspended license any way HA HA HA HE HE EHHU HUUHHH AHH HA HA HJA...