News Topic: Tax Issues

An important tax provision that allows underwater homeowners to short sell their home without tax consequences will expire at the end of this month. Earlier this year I wrote about this tax provision. You can review that article here: ... Read full article

There is lots of talk about expiring tax cuts; Bush tax cuts, payroll tax cuts but there is an expiring tax provision no one seems to be talking about, the tax provision that exempts unpaid mortgage arrears on primary residences that are subject to ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

Filing timely tax returns is key if you wish to discharge tax debt in bankruptcy It is possible to discharge income tax debt in bankruptcy, however, not all taxes are eligible and timing plays a very important role. If you’re anticipating tax troubles on ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

With April 15 just around the corner, many of us will be scrambling to come up w ... Read full article

Tax Refunds are Vulnerable in Bankruptcy We’ve said it time and again on the forum, tax refunds are the number one asset that trustees routinely take from debtors. Exemption laws in most states only go so far to protect cold hard cash and anything over and ... Read full article

When Creditors Ignore the Bankruptcy Discharge Creditors who attempt to collect on debts that have been discharged in bankruptcy often find themselves in serious hot water with the Bankruptcy Court.  Bankruptcy judges take the discharge order very ... Read full article

‘Tis the season when bankruptcy trustees are taking tax refunds. Potential tax refunds MUST be disclosed on your petition just like your couch and car.  Not disclosing your State and Federal tax refund is often a sure way to forfeit your tax refund.  The ... Read full article

Letter 1058 Precedes an IRS Levy The IRS seizes or levies property from taxpayers who owe back taxes. It is through the levy process that the IRS garnishes wages, seizes a car or attaches other items of property. Many taxpayers are frightened by notice of ... Read full article

This article considers some of the debts that cannot be discharged by filing for Chapter 7 bankruptcy protection. It also provides a brief explanation why you may not discharge these debts during the Chapter 7 bankruptcy process. Many debtors think that ... Read full article