Sometimes my clients don’t believe me when I tell them they must disclose all their assets when going through Chapter 7 bankruptcy (or any other bankruptcy). With that in mind, maybe Sebastian, my Feline Paralegal, can explain things a bit better Read more »
There are hundreds of strategies for handling IRS issues. But not all strategies are as effective as others.
A car-repair owner got audited and brought his tax-return preparer (Jim) to handle the audit. The preparer said to give the IRS as little information as possible . “The IRS won’t want to go to trial, and they’ll cave in at the last minute,” he said. But something didn’t seem right Read more »
Here’s something I discuss on the landing page of my website, because I think it’s that important: I’m assertive but not antagonistic. Okay. So what? Some clients are so angry with the IRS they want to use me primarily for revenge, even if their case would have a better outcome if we approached the adversary calmly Read more »
A potential client called me last week for help in dealing with the IRS. He owes taxes for 1992 to 1996. Had he filed the returns on time? Yes. Had he filed bankruptcy in the meantime? No. Had he filed an offer in compromise? No. Has he heard anything from the IRS in the last three years? No, but he thought that was because he had moved Read more »
Since the fall, I have seen a big uptick in desperate people calling me for tax or bankruptcy help. What kind of desperation? These people have been either on the IRS’s radar, or been having debt problems, for many years and then the crisis hits: the IRS puts a lien on a house, or a creditor gets a default judgment and the sheriff Read more »
It’s possible to discharge (have tax debt wiped out) most federal taxes in bankruptcy. There are exceptions, however. Many of the times when taxes aren’t dischargeable in bankruptcy are very Read more »
If a debtor sells property for less than full market value before filing bankruptcy, the law considers this a form of theft from the bankruptcy estate: the Bankruptcy Trustee could have sold it for more money to pay off the debtor’s creditors. But, sometimes Sebastian the Feline Paralegal’s explanations are more fun to read.
Trustee in Chapter 7 Bankruptcy When you file a a chapter 7 bankruptcy, everything you own and owe is legally transferred to a Bankruptcy Trustee, who can then use your Read more »
The IRS and the FTB don’t negotiate tax debt. Neither agency will write off a dime of tax debt because the taxpayer asks it to. Their missions are to collect Read more »
Is it true that there is no law requiring payment of income tax? After all, many tax protesters assert this. And, in my 10 years as an attorney for the Read more »
