Admin

How competitive are you at different Law Schools?

Enter your LSAT and GPA scores and find out!
GPA: out of 4.0
LSAT: out of 180
Legal Forums
Legal Forums
Welcome, Guest
Please Login or Register.    Lost Password?
who pays the tax? (1 viewing) (1) Guest
Go to bottom Post Reply Favoured: 0
TOPIC: who pays the tax?
#7289
Preston (User)
Senior Boarder
Posts: 74
graphgraph
User Offline
who pays the tax? 6 Years, 11 Months ago Karma: 0  
if two partners are jointly personally liable for a tax debt (e.g. payroll taxes from a closed business), then could any one partner confirm that the other partner is paying his portion of the taxes? If the payroll tax debt is assigned to each person as an individual "civil penalty" and the partners dont communicate, then would they know if they were over paying on the tax debt?
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#7304
GelRon (User)
Senior Boarder
Posts: 71
graphgraph
User Offline
Re:who pays the tax? 6 Years, 11 Months ago Karma: 0  
Each partner should get statements from the IRS stating what the remaining outstanding liability is. In addition, since each partner is jointly or severablly for the same liability, each partner should be able to monitor whether there is a reduction in the liability. Hence, if no reduction in the liability, then the other partner is not contributing his or her fair share. At that point, all you could do is sue the ex-party to recover damages.
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#7314
Preston (User)
Senior Boarder
Posts: 74
graphgraph
User Offline
Re:who pays the tax? 6 Years, 11 Months ago Karma: 0  
I guess thats my question. Will each partner be aware of what the other is paying? I dont think so as its private information what each person pays. I think the only other option is for the partners to have a written agreement with each other to pay their fair share of the liability.
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#7388
sonika (User)
Fresh Boarder
Posts: 1
graphgraph
User Offline
Re:who pays the tax? 6 Years, 10 Months ago Karma: 0  
About the tax matters, Fair tax (tax reform) should be implemented which regulates a tax system that applies tax on every purchase of a consumer. Now, if we follow the effective tax system then a person who spends more than 30 thousand $ in a year on items including tax would devote 5,6 % of total tax to the fair tax. Sometimes a customer overpays their tax due to the lack of knowledge on tax law and IRS audit system. So, it is very necessary to have an experienced tax counselor or IRS tax lawyers to save your self from over paying taxes.
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
Go to top Post Reply
Powered by FireBoardget the latest posts directly to your desktop

LegalNut Resources

Attorney jobs listings and sites with attorney salary information, attorney job search functions, and salaries by law firm.

Law school rankings show how competitive your lsat scores would be at top law schools in the US.

Law school admissions advice is available both at the LSAT forum and throughout the pre-law section, including LSAT prep options, law school personal statement help, LSAT score distributions and law school bar exam pass rates.

Copyright 2006 - 2018 Rochester Ideas, LLC. All rights reserved.