Debtors can discharge their taxes in bankruptcy so long as they meet certain tests: the three-year test, the two-year test, the 240-day test and no fraud. I lay it out Read more »
Blog
IRS’ Right to Take Your Passport
Congress granted the IRS the power to revoke passports in December 2015. Under this law, if you owe more than $51,000 to the IRS, then you could lose your passport. This program does not inspire confidence: here Read more »
Considering Bankruptcy? Tip 6 – Don’t Feel Ashamed
Many clients feel shame about filing for bankruptcy protection. I can tell because they tell me repeatedly that they never thought they would be talking to a lawyer about bankruptcy, Read more »
The IRS Can (Almost) NEVER Waive Interest on Late Taxes
A business-owner client recently claimed an R&D tax credit available to him. The IRS denied his use of the credit, he hired me, we went to Tax Court and ultimately Read more »
Considering Bankruptcy? Tip 5 – Timing Matters
Timing matters in bankruptcy. For example, if you have seasonal fluctuations in income (like teachers and realtors), then at some times of year your income may be too high to qualify Read more »
How Inheritance Impacts Bankruptcy
It’s horrible to have a loved one die. But sometimes the death comes with a silver lining in the form of an inheritance. However, for someone with lots of debt Read more »
Considering Bankruptcy? Tip 4 – Good for Tax Debt But Not Student Loan Debt
Bankruptcy Will Allow You to Get Rid of Most State & Federal Income Tax Debt In fact, this why I practice tax and bankruptcy law – because bankruptcy can be Read more »
Considering Bankruptcy? Tip 3 – Stop Worrying About Credit Score Hit
One of the biggest concerns people have about bankruptcy is triggering a negative hit to their credit score. The anxiety that their credit score will go down even stops some Read more »
IRS Processing Times Still Covid-Slow
It’s late April. More than 13 months into the pandemic. Almost 40% of Americans have received at least one Covid vaccine. So, you’d think IRS processing times – which slowed Read more »
Considering Bankruptcy? Tip 2 – Don’t Worry About Losing Everything
Many people are concerned that filing for personal bankruptcy means losing everything they own. After all, in a chapter 7 bankruptcy, everything you own and owe is legally transferred to Read more »