Blog Category: Taxes


Tax Consequence of Debt Settlement

Tax Consequence of Debt Settlement

Obtaining a debt settlement and paying less than what you owe is a smart financial move that proves your expert negotiation abilities right? Well, almost, however while paying back a creditor for less than what you owe is a smart play, you should be aware of how the IRS looks at your debt negotiation deal.  … Read more

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Can I Eliminate a Tax Lien in Bankruptcy?

Can I Eliminate a Tax Lien in Bankruptcy?

Tax debt is one of the primary types of debt that sends consumers running to their nearest Texas bankruptcy attorney in an effort to find out if bankruptcy will stop the IRS from collecting those tax debts. While the bankruptcy’s automatic stay will stop collection activities from the Internal Revenue Service, there are only certain  … Read more

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Tax Debt Could Affect Your Ability to Travel in 2018

Tax Debt Could Affect Your Ability to Travel in 2018

Tax debt is a tough obstacle to overcome, and the Internal Revenue Service is reminding individuals who are “seriously delinquent” in their tax debt that it could affect your ability to travel in 2018. The law that requires the IRS to notify the State Department of serious delinquent tax debt in order to deny issuing  … Read more

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Should You Delay Your Bankruptcy?

Should You Delay Your Bankruptcy?

In most cases many individuals that are going bankrupt rely on every penny that is coming into them. More often than not, there is more money going out than what is coming in, and this is what is leading them into a bankruptcy action to begin with.   In some cases individuals are waiting for  … Read more

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Will My Tax Debt Be Dissolved in a Bankruptcy?

Will My Tax Debt Be Dissolved in a Bankruptcy?

When most individuals are at the end of their rope with their financial situation they may have no other alternative but to think about going bankrupt. While many different types of debt can lead them into having to make this decision, often one of the major ones is their tax debt. What they may not  … Read more

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Can Your Tax Return Benefit Your Bankruptcy Efforts?

Can Your Tax Return Benefit Your Bankruptcy Efforts?

One thing that you can count on is that your tax refund is going to be something of interest to your bankruptcy trustee. Each state has their own specific rulings when it comes to asset exemptions, and usually its cash that falls into this category. Naturally you don’t get your tax refund by way of  … Read more

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Can I Clear Off My Tax Debt with Bankruptcy?

Can I Clear Off My Tax Debt with Bankruptcy?

One of the most common debt problems many individuals can run into is with their tax debt. The costs for this keeps accumulating, and there soon seems to be no way to get it under control. You want to be sure to discuss this particular debt with your Houston bankruptcy attorney, and don’t just assume  … Read more

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Getting Prepared for Tax Season

Getting Prepared for Tax Season

With the upcoming New Year, tax season is about to begin. For the first time ever, you’ll have to report your health insurance status on your returns. Whether you’re doing your taxes yourself or are working with someone else to handle the math, there are a number of factors to take into consideration to ensure  … Read more

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Taxes and Texas Bankruptcy

Taxes and Texas Bankruptcy

If you are considering filing for Texas bankruptcy there are a few things you should know about how it could affect or interact with your taxes. For most people, there won’t be any complications with their taxes, but it is important to understand the three main tax issues in bankruptcy. Tax Returns In order to  … Read more

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