How Bankruptcy Affects Tax Debt: Can Filing Help You?
Tax debt can be overwhelming, and many taxpayers struggling to pay their taxes may wonder if bankruptcy is a viable option to resolve their IRS debt. Bankruptcy can provide relief for certain types of debts, but the relationship between bankruptcy and tax debt is complex. Whether tax debt can be discharged (forgiven) depends on the […]
What to Do When the IRS Files a Federal Tax Lien Against Your Property
Receiving notice that the IRS has filed a federal tax lien against your property can be alarming. A federal tax lien gives the IRS a legal claim to your property as security for unpaid tax debts, and it can have a significant impact on your ability to sell or refinance assets. Understanding what a federal […]
Offer in Compromise
Struggling with Overwhelming Tax Debt? An Offer in Compromise Might Help You Settle for Less If you have little equity, minimal monthly disposable income (income minus IRS allowable living expenses), and no expectation of future income, you can pursue what is called an Offer in Compromise (OIC). An OIC will allow you to settle your […]
I Can’t Pay my Taxes, Now What?
If you owe the IRS and cannot pay your tax liability in full, there are collection alternatives available to you and your unique situation. An experienced tax attorney can review your financial situation and select a collection alternative that will benefit you best. What if I do nothing? Receiving a notice from the IRS about […]