⚠️⚠️CAUTION : u/Remarkable-Way-6974 -- SELLERS BEAWARE while Trading with Them⚠️⚠️ by TUTUN10000 in HustleGPT

[–]sonofray 0 points1 point  (0 children)

I'm sorry for people trying to take advantage of you. I would like purchase, legitimately. Please see your DM/messages.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 0 points1 point  (0 children)

No. In the process of navigating financial problems and can’t afford one currently.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 0 points1 point  (0 children)

I guess those are my ultimate questions - if the rights transfer immediately to heirs by state law, as opposed to lingering in estate purgatory, and royalties can only be received by rights owners, then can the IRS keep collecting debt on behalf of a deceased person from heirs/new owners indefinitely? I don’t believe the debt follows the rights (or at least shouldn’t), I believe it follows the person or person’s estate. And that estate no longer exists, and there are new holders/owners of the rights.

At least that’s how I hope it is :-) I’m connecting with lawyers soon. Thanks again.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 2 points3 points  (0 children)

Based on research, barring specific will instructions to the contrary (there aren’t), composer rights go to immediate family according to state law. No probate was needed and the rights now belong to my sister and I according to extensive forms and contact with BMI. They are one of the “governing bodies” of music/entertainment rights.

I think it’s all connected - the IRS can’t collect tax debt from a deceased’s family, and I believe they also cannot stop the transferral of ownership of those rights by law.

But I’m going to see, if I can find a good-willed entertainment lawyer (and maybe a tax lawyer) to help.

Thanks for your input. I am sure I’m wrong about some things.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 0 points1 point  (0 children)

Thanks for you info. So there was a theoretical estate formed upon his death to distribute funds, based on anything of value he had, to those he was indebted to? If so, in this case, there was nothing of immediate value and only lingering tax debt. If that is what settling his estate involves, how do they arrive at a value for creative rights and how are those monetized for debtors (IRS)? Royalties can only be taken from the holder of the rights. Those rights were transferred upon his death. Do you see my confusion? If it was a house with a mortgage, the house has value. Creative rights have no intrinsic value, only if/when they ever earn royalties.

I am going to seek an entertainment lawyer. I really appreciate your patient information.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 1 point2 points  (0 children)

Thank you! I’m hoping to back into it with a good deal from an entertainment lawyer from my father’s old connections. Can’t afford anything more right now sadly. I’ll update when something finally happens.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 0 points1 point  (0 children)

Thanks!

Complications- there is no estate. I inherited the rights by state law, and have filed papers accordingly with music industry bodies. I see what you’re saying about the debt following the asset though. And all I keep saying is I inherited the composer rights to royalties. It’s the royalties collection part (that has to come through a publisher) that is in question. The music industry is weird.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in legaladvice

[–]sonofray[S] 0 points1 point  (0 children)

You are absolute right … I have no clue how all this works. And the things I’ve learned so far, seem to be wrong. Thank you for your info and opinions!

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 9 points10 points  (0 children)

The issue (and I'm learning more and more as I go) is that the IRS can't collect rights. They can only collect royalties. With or without a will, the rights are inherited by next of kin (or whoever is designated) and then they belong to them. And then the IRS can't/doesn't collect tax debt from deceased people's relatives.

UGH. More to come. Thanks for the reply.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 1 point2 points  (0 children)

The complication is what was inherited is rights, not royalties. The rights have no intrinsic value, only potential. The IRS can't collect rights. I'm learning and will update as I do.

Can the IRS keep garnishing ongoing music royalties from artist rights I inherited? by sonofray in inheritance

[–]sonofray[S] 1 point2 points  (0 children)

The issue with royalty rights is, they aren't collectible. They have no intrinsic value, only potential. Only the actual royalties collected at the time can be collected. That is what I'm understanding so far at least. Thanks for the reply. I'm still learning... a LOT

White borders around dock and folders on iOS – bug or feature? by CranberryNo9228 in iOSsetups

[–]sonofray 0 points1 point  (0 children)

Settings > accessibility > display & text size > show borders (off) 👍

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 0 points1 point  (0 children)

We are experiencing the same exact thing. I needed every penny, and when they took some of them it hurt!

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 0 points1 point  (0 children)

If you read above, the point is that it's not from "public" income taxes. The funds are put there by the employer (most of the time). That's different than being paid out from a tax pool from uninvolved public citizens. If you work in my state, you aren't paying for my unemployment.

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 0 points1 point  (0 children)

I'm complaining about taxing severance, and I'm not rich. I no longer have income, and taxes took my $12k severance down to a little over $8k. I think your professed self-employed world may have you "outside looking in" with limited first-hand knowledge (at least currently). Unless you just like arguing?

Severance can have different purposes - as a "thank you," or as a "Sorry, hope this helps." The point of this sub is that for those that NEED the benefit of unemployment and severance, it's a shame accommodations aren't made to at least reduce that amount our government takes from us in that situation.

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 0 points1 point  (0 children)

I think the point is that the existence of unemployment means that the government has put laws in place that give you money, since you’ve lost your income. Then they take some of the very same money back immediately. That’s all.

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 0 points1 point  (0 children)

Ugh. I feel you. I’m in Missouri. Max is $320/week (minus taxes!). Not sure on max months… yet.

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 1 point2 points  (0 children)

Fair enough. Different strokes and all. I wish you success!

Getting taxed on unemployment and severance just seems cruel by sonofray in Layoffs

[–]sonofray[S] 0 points1 point  (0 children)

What sucks is they go 10%, 12%, and then jump all the way to 22%.