With the income tax return filing deadline of April 15 now one month away, here is our effort at making taxes interesting.
If you can't discharge your income tax debt through Chapter 7, or make workable payment arrangements on your remaining tax debt, then Chapter 13 can be a good solution
Give gladly to your Chapter 7 trustee assets that you don't need, if most of the proceeds of sale of those assets are going to pay your taxes.
Even if a straight bankruptcy would leave you owing some or all your income taxes, it may position you well to settle those taxes with an Offer in Compromise.
Don't assume that just because your income taxes are too new to be written off that 1) bankruptcy can't help, or 2) only Chapter 13 can help.
Here are the other three hurdles your tax debt has to jump over to be forever written of in bankruptcy
Your tax debt has to jump over 4 hurdles to be forever written off in bankruptcy. But if it does, that tax is history.
Two fun topics: taxes and bankruptcy! Seriously, they can be a very good combination.
How to avoid getting tripped up in a trap set by Congress supposedly to prevent bankruptcy abuse.
You can file a new bankruptcy immediately after finishing another one, but why would you?
You can file a new case 8 years after filing before (so, now or very soon), or possibly only 6 or 4 or 2 years after, or maybe even with no delay.
After filing bankruptcy, you hope you never have to do that again. But it's good to know that you can if you need to.
This financial fraud lawsuit seems more aggressive and may be more effective in finding fault that have been the previous multi-billion dollar efforts against other players in the financial crisis.
This financial fraud lawsuit seems more aggressive and may be more effective in finding fault that have been the previous multi-billion dollar efforts against other players in the financial crisis.
Detailed 124-page Complaint lists specific ways that Standard & Poor's intentionally inflated its ratings of mortgage-backed securities for its own financial gain, while lying about the objectivity of those ratings.