Do You Owe Taxes From 2020, Even If Unemployment Benefits Were Not Taxed
Do you owe 2020 income taxes even though the IRS is now not taxing the first $10,200 of unemployment benefits? What to do and not to do.
Category Income Taxes
If You Owe Income Taxes
What do you do and not do if you owe income taxes or have ongoing tax liabilities?
Avoiding Income Tax Interest and Penalties
Bankruptcy timing can affect not only whether you must pay a tax debt but also whether you must pay certain tax interest and penalties.
Timing Chapter 13 to Discharge Income Taxes
Chapter 13 can discharge income taxes (write them off forever) if you wait long enough to file bankruptcy. Here’s how it works.
Timing Bankruptcy to Discharge Income Taxes
Usually you can discharge income taxes write them off forever by waiting to file bankruptcy long enough. Here's how it works under Chapter 7.
Unfiled Tax Returns and Bankruptcy
If you're considering filing bankruptcy, should you first prepare and submit any unfiled income tax returns? Should you prioritize paying them?
A Chapter 13 Plan That Involves Income Tax
Here's an example of a Chapter 13 payment plan to pay income tax, showing how you pay what you can afford and avoid some interest, penalties.
Paying Income Taxes through Chapter 13
Chapter 13's advantages in paying off your priority income taxes become clearer when you see what you don't have to pay.
Priority Income Tax Debts under Chapter 13
Chapter 13 gives you huge advantages for paying off your priority income tax debts. You're protected while you pay what you can afford.
Avoid Income Tax Liens in Chapter 13
Chapter 7 can prevent future income tax lien recordings against your home, if the tax is truly dischargeable and you have a no-asset case.
Avoid Income Tax Liens with Chapter 7
Chapter 7 can prevent future income tax lien recordings against your home, if the tax is truly dischargeable and you have a no-asset case.
Prevent Future Income Tax Liens
Bankruptcy can prevent future income tax lien recordings against your home. The result: paying nothing on the tax vs. paying it in full.
Bankruptcy Writes Off (Some) Income Taxes
Bankruptcy permanently writes off income taxes, as long as the tax meets certain conditions. For some taxes the conditions are easy to meet.
Do you owe income taxes for 2018 AND Earlier Year
Do you owe income taxes for the 2018 tax year AND already owe for one or more tax years? Chapter 13 may be an especially good tool for you.
Dealing with your 2018 income taxes through a Chapter 13 Case Filed in 2019
Do you expect to owe income taxes for the 2018 tax year? Starting January 1, 2019 you can wrap that tax into a new Chapter 13 payment plan.
