Most people do not know that some personal income taxes can be discharged in bankruptcy. The rule is that personal income taxes can be discharged if: The tax return was due more than 3 years before the bankruptcy is filed. The 3-year period begins when the tax return was due. For example, [...]
Can the IRS Garnish Your Social Security? Social Security garnishment is generally not available for creditors. However, the federal government has the full force of the IRS to perform levies for tax debts. The IRS can garnish Social Security for back taxes. What Can the IRS Garnish? The IRS can levy Social Security [...]
Don’t stress if you can’t pay your tax bill by the deadline of April 18, 2023. You still have several options that the IRS offers to help you meet your obligations. Even if you are unable to pay your full tax bill, it’s important to file your tax return or request an extension of time [...]
Employment Development Department (EDD) fraud refers to any fraudulent activity that involves using false information to apply and receive unemployment benefits from EDD. It can include falsifying information about employment status and/or using fake or stolen identities to apply for benefits. This can be done by a single scammer or an organized crime group. Do [...]
BE AWARE OF IRS SCAM ARTISTS: HOW THE IRS COMMUNICATES WITH TAXPAYERS WHEN THEY HAVE UNPAID TAXES If you owe back taxes, it's important to not get taken by scam artists who want to take your money so it's essential to know how the IRS communicates with taxpayers. Below are some basic tips from the [...]
The Biden Education Department Has Put a Pause On Accepting New Student Loan Relief Applications Following A Recent Court Ruling… But Look Out For Updates The Biden administration has paused accepting applications as part of the student loan forgiveness program following a recent court order that annulled the plan. Myra Brown and Alexander Taylor, two [...]
Did you know that there are debt limits in Chapter 13 bankruptcy cases? There’s only a certain amount of debt that you can have to qualify for a bankruptcy discharge (debt forgiveness) under Chapter 13. In a Chapter 7 or Chapter 11 bankruptcy there are no debt limits. Every three years Chapter 13 debt limits [...]
UPDATE 11/11/2022: The Biden Education Department is No Longer Accepting New Student Loan Relief Applications Following a Court Ruling But Stay Tuned- https://www.businessinsider.com/student-loan-forgiveness-can-i-still-apply-court-ruled-illegal-2022-11?utm_source=notification&utm_medium=referral The Education Department just launched the student loan debt forgiveness program on their website. Since the program is new, it may be down intermittently as the Department refines the student loan debt relief program. [...]
Chapter 13 bankruptcy allows individuals and small business owners to repay their creditors over 3 to 5 years. Chapter 13 bankruptcy is available to wage earners, self-employed and sole proprietors. If you owe taxes to the IRS and/or Franchise Tax Board, they will be listed as a creditor in your bankruptcy case. The tax agency [...]
If you are struggling with your debt, you may be looking at options for a way out. Bankruptcy can be a great option for a financial fresh start. But, how will you know if bankruptcy is right for you? Here's what you need to about what bankruptcy can do for you: So, What Does Bankruptcy Do? [...]
