Family Law

• Divorce

Trusts and Estates

• Estate Planning
  In other cases, tax concerns may not be at the center of your clients concerns. Attorneys in the areas of divorce, real estate, or trust and estate administration may find that by advocating for their clients’ interests, they expose unsettled tax liability. Most lawyers do not have the experience necessary to properly advise clients on how the IRS will respond to claims that an innocent spouse should pay for their ex-spouse’s tax debts, or concerns that an outstanding tax lien is interfering with the sale of a home. They may not know what an executor or trust administrator needs to do to properly report a deceased loved one’s foreign financial assets.
• Probate

Finance Law

• Foreclosure
  It may depend on the wording of your 401(k) plan, which may or may not permit hardship distributions and may limit the categories of hardship that qualify. The IRS, in addition, has its own criteria for determining "hardship." For a distribution from a 401(k) plan to be "on account of hardship," there must be an immediate and heavy financial need and the amount distributed must be limited to the sum needed to satisfy the financial need. Whether a need is "immediate and heavy" depends on the facts and circumstances, including the availability of other resources, but certain categories generally qualify: (1) certain medical expenses; (2) costs relating to the purchase of a principal residence; (3) tuition and related educational fees and expenses; (4) payments necessary to prevent eviction from, or foreclosure on, a principal residence; (5) burial or funeral expenses; and (6) certain expenses for the repair of damage to the taxpayer’s principal residence. Note that the hardship distribution is still taxed as income unless the money withdrawn consisted of designated Roth contributions. All you can hope to avoid is the 10 percent penalty on early distribution.
• Tax Law
  Joseph R. Viola has litigated complex tax cases in federal courts involving millions of dollars. Yet he is also accessible to the average taxpayer or local business owner who needs tax planning advice or legal representation for an IRS audit or negotiation. We provide effective solutions at reasonable rates, serving the Philadelphia Metro area and surrounding areas of Pennsylvania and New Jersey.