We’re seeing more and more situations here in the Charleston area in which people have “tax messes.” Here are some things to keep in mind about tax problems. 1. File your taxes on time. Failure to file is actually a crime. You may need an extension. If you can’t file on time, file for an…
Tax debt can be discharged through bankruptcy, but you need to understand the rules. The key is filing your returns on time. I spend considerable time in my bankruptcy practice dealing with clients with tax debt. It’s common. And one common problem with these clients is that, all too often, they have not filed…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott File your taxes! That’s right. Filing your income taxes is the key to discharging tax debt in bankruptcy. The 3/2/240 rule There are numerous bankruptcy blog posts out there about discharging taxes in bankruptcy. It boils down to the 3/2/240 rule. You can read about there here in…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Using your credit card to pay taxes may make sense–sometimes. However, there are important considerations to using credit cards for this purpose. Kelly Phillips Erb, a Philadelphia tax lawyer and blogger at “Tax Girl,” recently wrote a great post entitled, “Five Ways to Pay Your Taxes When…
Guest Post by By Victoria Maydanik, consumer bankruptcy attorney in San Jose, California and owner of Maydanik Law Firm. Each year during tax season, hundreds of people lose some or all of their tax refund in bankruptcy court. After the first of each year, here is a fairly typical discourse between the bankruptcy trustee and…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Having enough tax withheld is critical for your financial success. In my Charleston bankruptcy practice, I see lots of tax problems. Clients usually owe the IRS or the South Carolina Department of Revenue. We can usually Using Bankruptcy to Discharge Tax Debt or repay it in a…
Written by Summerville Bankruptcy Lawyer, Russell A. DeMott You may be able to discharge taxes in bankruptcy, but not always. To understand the benefits of filing bankruptcy to deal with tax debts,
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