Tag Archives: Bankruptcy

Dump Tax Debt

Today TaxMama hears from Bill in Nevada who tells us. “I have a tax lien from year 2000. This was a debt that was awarded to my ex in our divorce. At the time of divorce the debt was around $500. She got it down to less than $200. and stopped paying on it. It […]

Chapter 13 Tax Discharges

Today TaxMama hears from Mark in Arkansas, who wants to know, “I have filed a Bankruptcy Chapter 13 repayment plan. Can I have my taxes dismissed in a “tax bankruptcy” even if they’re already in included my Chapter 13 filing?” Dear Mark, Chapter 13 bankruptcy is like a personal re-organization. You get to reduce some […]

Tax Bankruptcy That Wasn’t

Today TaxMama hears from Gina in San Diego who tells us. “I filed bankruptcy in 2005, hoping to clear back taxes. All taxes had been filed and assessed. However, my back taxes went untouched by the bankruptcy. Had I known that would occur, I would not have filed. What went wrong?”

TaxSeason Roundup

TaxMama has so many questions in the Tax Parlor and from her MarketWatch article this week, that I’ve spent about three times as many hours answering them. Many of the answers are posted in the Tax Parlor – http://taxtwist.com/forum.php?varset=s:13-pm:m-se:265-fo:13 They cover areas like dealing with out of state jobs, Whirlpool’s buyout of Maytag stockholders, taxes […]

Bankrupting Taxes

Today TaxMama hears from Lisa from the Tax Parlor who tells us, “I filed Chapter 7 bankruptcy in September 2003. I owed the IRS for 1996, 1997 and 2002 taxes. This was listed in my bankruptcy but the IRS has no record of it. They also say IRS debt is not dismissed. I would like […]

Wiped Taxes

Today TaxMama hears from Sam in MO who wants to know, “I had a bankruptcy in 1997 from a failed business. At that time I owed employee withholding taxes which were listed on my bankruptcy. Knock on wood, I have never heard from the IRS. Were those taxes wiped clean from the bankruptcy? Same situation […]

Owning Rental Property

Today Donna from California did some research. “I’m interested in starting a small business in real estate centering around purchasing the property and renting it to tenants. But to my dismay I recently read that the IRS does not consider that a business. Is that true? I also read that this is a “gray” area. […]

Tax Bankruptcies

From: Everywhere – we had about 10 questions about tax bankruptcies, this week alone. Who knows, perhaps this article re-surfaced Dear TaxMama, Is it true that you really can get rid of your taxes through bankruptcy? What is a tax bankruptcy and how can I get one? Signed… everyone. Dear Family, About three years ago, […]