Tax Returns

IRS scrambles to clear ‘clogged drain’ slowing mortgage applications

12/19/17

Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.

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Mortgage lenders fear ‘train wreck’ logjam due to IRS issue

12/17/17

Mortgage lenders are bracing for big delays in the processing of mortgage applications, citing a problem with the income verification system at the Internal Revenue Service.

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Trump paid $38M tax on $150M income, according to newly unearthed 2005 return

03/15/17

President Donald Trump made more than $150 million and paid $38.4 million in federal taxes in 2005, according to two pages of his federal income tax return for that year that were broadcast by MSNBC and posted online.

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11th Circuit Issues Important Opinion On What Constitutes A “Return” For Purposes Of Determining What Taxes Are Dischargeable Pursuant to §523(a)(1).

04/08/16

tax_returnThe question of what constitutes a tax “return” for purposes of 11 U.S.C. §523(a)(1) has been the subject of conflicting Circuit Court cases the last several years.

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Bankruptcy requires listing all debt and filing all tax returns.

02/18/13

Listing all creditors is vital to the success of a bankruptcy case.  So is filing all required tax returns on time.  If you fail to file a tax return you might not be aware you owe the IRS money, so it would be easy to mistakenly omit that creditor from your bankruptcy case.  Even debt that will not be discharged should be listed, including certain tax debt, so that a claim can share in any distribution paid to creditors by the bankruptcy estate.

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Your Tax Returns Must be Filed as Part of a Chapter 13 Bankruptcy

09/14/11

Chapter 13 Bankruptcy and Tax Returns Chapter 13 bankruptcy is often called a “wage earners plan,”  meaning debtors need steady income in order to fund a court supervised repayment plan. The repayment plan involves paying back a percentage of debts to creditors over a period of between 3-5 years. Often, unsecured debts such as credit [...]

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