Blog Category: Taxes

Taxes, often referred to as one of life’s certainties, can also present one of its most formidable challenges in the form of tax debt. For many individuals and businesses, the looming burden of unpaid taxes can feel like swimming in a sea of red tape, with no clear path to shore. The Different Shades of  … Read more

Every year, the arrival of tax season brings with it equal parts anxiety and optimism. For some, it’s a stressful time crunch, digging through receipts and W-2 forms, hoping to pull out a refund. For others, it’s a chance to shore up finances or splurge on that prized item with a sizeable check from the  … Read more

Several families are experiencing unheard-of financial troubles as a result of the COVID-19 outbreak. In response, the government has offered a range of financial aid, such as COVID relief grants and Child Tax Credit payments. Even while these monies have brought about much-needed respite, many people are now unsure of how these payments will be  … Read more

Facing a tax debt can be an overwhelming experience. You may feel like the weight of the world is on your shoulders while trying to figure out how to pay off your debt. The good news is that you don’t have to go through this alone and there are various resources available to help you  … Read more

Nobody enjoys having debts to the government, but sadly, a lot of people have tax debt. There are a few things you can do to prevent getting behind on your taxes if you’re having trouble paying them. Make sure your tax returns are filed promptly first. If you’re self-employed, you must also submit your expected  … Read more

In some circumstances, your income taxes can be discharged in bankruptcy, just like any other unsecured debt. However, you cannot discharge your income taxes if you are under the IRS’s automatic filing program. In addition, if you have not filed your income taxes for the last two years, you may not be able to discharge  … Read more

Tax debts can cause serious consequences if not resolved properly. Unpaid taxes can quickly lead to other hassles, such as property liens and wage garnishment. While filing for bankruptcy, can halt garnishment and lien orders; not all tax debts can be resolved in bankruptcy. When you file for bankruptcy for unpaid taxes, you need to  … Read more

This year, millions of Americans have faced job loss and unemployment. As so many people are struggling with a personal financial crisis, the ripple effect of a turbulent year will surely spread farther. Take, for example, those that have received financial assistance by way of unemployment compensation. For some, the upcoming tax filing season may  … Read more

In certain circumstances, you can keep your income tax return while you are in your Chapter 13 bankruptcy case. If you can prove that you need your tax return to make your plan payments while keeping up with your living expenses, you may be able to keep it. If you are expecting a large tax  … Read more

If you have back taxes yet to be paid and you are overwhelmed in debt, you may want to file bankruptcy to eliminate those taxes. Specific rules apply, but if your taxes are at least three years old, you may be able to discharge that debt. If the date of your tax return is less  … Read more