Non-Bankruptcy Alternatives for Dealing With Federal Tax Debt
Tax debt keeping you up at night? Bankruptcy may help. If not, consider solutions available without filing bankruptcy.
Getting Help With Delinquent Taxes
Not one of the lucky people waiting on a tax refund? One of the most stressful types of debt for people to have is tax debt. While it is true that the IRS has powerful collection tools, coming up with a reasonable plan to address delinquent taxes is possible. Many times, people who get behind [...]
Property Tax Relief for Disabled and Elderly
Disabled and elderly homeowners (65 and older) may have more options for repayment of property taxes. Easier payment plans or even tax deferral may be available in some circumstances. This help is not automatic and you should contact the tax appraisal office and follow their procedures. What Assistance Can I Get for Delinquent Property [...]
Collection of Delinquent Property Taxes on Your Home
Notice of Delinquent Taxes Annual Notice – Taxing units are required to mail an annual notice of delinquent taxes. Failure to provide notice may be an affirmative defense to a judicial foreclosure suit which the taxpayer can raise if the taxing unit fails to send the notice. Statute of Limitations on Collection of Delinquent [...]
Understanding Property Taxes (Ad Valorem Taxes)
Property Taxes are normally a secured debt, secured by the home, real estate, or business property. Property taxes create a lien against the property which attaches to the property on January 1 of each year even though the taxes are not due until later. Property taxes are a personal obligation of the person who [...]
Effect of Tax Lien on Payment of Taxes in Chapter 13 Bankruptcy
Taxes that normally may be discharged must usually be paid as a secured debt to the extent that they are secured by a validly perfected IRS lien, regardless of whether the property is exempt from bankruptcy. This means that once the automatic stay protection of the Bankruptcy Court ends, the IRS can still collect [...]
Discharging Income Taxes in Bankruptcy
Certain taxes, such as payroll taxes or trust taxes, are not dischargeable. Federal income taxes may be dischargeable depending on a number of factors. Generally, in order for taxes to be dischargeable:The tax return must have been due more than three years from the filing of the bankruptcy petition. This includes extensions, so if you [...]
Filing Bankruptcy Without Losing Your Tax Refund
During the new year, people who are considering filing bankruptcy worry about whether they will lose their income tax refund if they file bankruptcy. The short answer is: no, you do not have to give up your tax refund in bankruptcy, as long as you do some planning. Many people deliberately over withhold their income taxes [...]