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Category: Taxes

File your Taxes on Time if Planning to Declare Bankruptcy

April 3, 2018 | Posted in Taxes

If you’re struggling with taxes, you should know that declaring bankruptcy can eliminate, but only some types of taxes and only if you file your taxes on time prior to declaring bankruptcy. The US Bankruptcy court has very specific rules that must be filled in order for a debtor to successfully discharge their debt. Tax […]

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Tax Debt in Bankruptcy

June 20, 2017 | Posted in Taxes

While most outstanding, unsecured loans are written off or discharged in case of a bankruptcy, tax debt in bankruptcy is not one of them. Taxes are compulsory payments that you make to the government. There are a number of taxes that you pay, including income tax, that you cannot ignore. If you do not pay […]

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What Happens To My Tax Refund If I Declare Bankruptcy?

September 6, 2016 | Posted in Taxes

A question that comes up quite frequently when discussing bankruptcy is tax refunds. Some people who typically get rather large refunds have wondered whether or not their refunds will be used to pay off creditors if they decide to file for bankruptcy protection. The answer to that question depends greatly on when and how they […]

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What Happens to my Tax Refund in Bankruptcy?

November 3, 2015 | Posted in Taxes

When you first begin to file for bankruptcy, prior to doing so there are a few things that you are going to discover. First, you will learn that there are several different types of bankruptcy. It has to be determined if you are eligible for a chapter 7 or chapter 13 bankruptcy. This is going […]

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Will the Bankruptcy Trustee Take My Tax Return?

March 10, 2015 | Posted in Taxes

When you are going through a Cincinnati bankruptcy, you will be assigned a bankruptcy trustee. This official determines the outcome of your proceedings. The rules and regulations are different for Chapter 13 bankruptcy and Chapter 7 Bankruptcy. In either case you will have to declare your tax return. In a Chapter 13 Bankruptcy it can […]

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Do I Have to Declare My Tax Return in Bankruptcy?

February 24, 2015 | Posted in Taxes

Entering into a Cincinnati bankruptcy can be confusing, over whelming and stressful. There are many concerns that arise like what will happen to your assets, and what do you have to declare. If you are expecting a tax return, do you have to divulge this information? What happens to your tax return will depend on […]

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Your Tax Returns In Bankruptcy

February 17, 2015 | Posted in Taxes

When you are in such a tight financial situation that it is leading you into bankruptcy, perhaps the only pleasant thought that exists at the moment is that you are going to be getting a good tax refund. Then the question arises as to what is going to happen to this in your bankruptcy. Income […]

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Is There A Tax Debt Discharge In Bankruptcy?

February 3, 2015 | Posted in Taxes

One of the most common debts that many individuals end up with that gets out of control is their tax debt. They may have fallen into arrears and penalties and interest just keep mounting. There is no light at the end of the tunnel for being able to pay this debt off because of the […]

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Tax Disputes In Bankruptcy

March 31, 2014 | Posted in Taxes

The bankruptcy court has the power to decide certain tax disputes. When consumer files bankruptcy, he must list all of his debts, including tax debts. The court has the power to determine whether or not the debts listed in a bankruptcy are valid and legitimate debts and whether or not the debt amount is what […]

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Teachable Tax Tips

March 28, 2014 | Posted in Taxes

For most families, money  management is not a top priority for teachable moments for kids. In reality, all finance related matters should be part of our teachable moments as parents. Everything from saving for a toy to filing the annual tax return should be a family matter that everyone participates. Obviously, some of the technicalities […]

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