Generally, if you haven’t paid your federal, state, or local taxes at all or haven’t paid your state or federal taxes in full, you may begin to receive notices warning that a tax lien may be filed against your assets. If a governmental entity files a lien, then it has […]
Before the weight of a tax debt becomes overwhelming, let an Indiana tax settlement attorney help get you back on track. The consequences of having unpaid tax debt range from being turned over to collection to seizure of future refunds, wage levies, and even criminal charges. Meanwhile, interest and penalties […]
Imagine the surprise of learning your spouse has improperly reported items on your joint tax return and that the IRS is looking at you to pay back taxes, interest, and penalties. It hardly seems fair, especially if you had no idea. Fortunately, the Internal Revenue Service (IRS) provides a way […]
If you owe more on your taxes than you are able to pay, one path to consider in reducing your tax debt is to submit an Offer in Compromise (“Offer”). This is an agreement between you and the Internal Revenue Service (“IRS”) which settles your tax debt for less than […]
While both President-Elect Donald Trump and the House Republicans view our tax code as being fundamentally flawed, their approach to fixing the tax code has taken different routes. On June 24th, 2016, the House Republicans, led by House Speaker Paul Ryan (R-Wis.) unveiled a plan for sweeping tax reform. The […]
If you, your spouse, or child is a student, you could qualify for the American Opportunity Tax Credit or the Lifetime Learning Credit. Even if you qualify for both credits, you can only claim one per student in a tax year. The American Opportunity Tax Credit can be taken for […]
Tax rates for married taxpayers with income less than $75,000 is supposed to be 12%. If income is between $75,000 and $225,000 and you’re a married taxpayer, the tax rate is supposed to be 25%. For taxpayers earning more than $225,000 the rate is supposed to be 33% if you’re […]
Generally, in a bankruptcy proceeding the debtor’s pre-petition debts are discharged; taxes are unique in that most tax debts are not dischargeable. However, some tax debts may be dischargeable depending on the type of tax, how old the tax debt is, if the debtor filed a return, and the type […]