75% of tax filers get a refund.  And the average refund amount is over $ 2,300.    I was surprised by these figures.  Am I the only one not getting an “annual bonus” from the government?
What is wrong with getting a refund check, and what does it have to do with filing for bankruptcy?  Plenty.
Can you imagine your [...]

What is Oregon Tax Amnesty and how do I get some?   It is a special program to allow Oregonians and others who owe Oregon tax to come clean without financial punishment.  An Oregon tax scofflaw can qualify for the amnesty program on pre-2008 tax liability by filling out an application and submitting it to the [...]

Most of the time, there is no reason to file a Chapter 7 bankruptcy for a corporation or limited liability company.  (We’ll call them both “companies” in this post).  However, there are some instances where filing Chapter 7 for the company makes good sense.
Normally, bankruptcy is about one thing: the bankruptcy discharge order.  The order states, [...]

Most bankruptcy debtors will need to file their taxes before, or soon after, filing for bankruptcy.   If your adjusted gross income for 2008 was $56,000 or less, you are eligible for free tax preparation and e-filing of your federal taxes.
This services is available through a partnership between the Internal Revenue Service (IRS) and [...]

As April 15 draws near, clients often ask “Can I keep my income tax refund in bankruptcy?”  Depending upon the laws of your state and the amount of the refund, the answer often is Yes!
Here’s what you have to do.
Like everything else in bankruptcy, it is very important that you be completely open and honest [...]

Tell your bankruptcy attorney if you are expecting an income tax refund or economic stimulus payment.

Do you get to keep your tax refund when you file for bankruptcy?
Many people who are thinking about bankruptcy at this time of year forget that their income tax refunds are a valuable asset.  If you file your bankruptcy case before you get your income tax refund, you may lose it.
If your income tax refund [...]

In the case of In re Bernard, 2008 WL 5050132 (Bkrtcy.D.Mass.2008), Judge Rosenthal of the Massachusetts Bankruptcy Court addressed two important means test issues. The debtors’ means test form showed that they had “passed” the test, but the UST argued that the form was completely incorrectly in two ways: (1) that the debtors did [...]

This past week, I wrote about discharging taxes in bankruptcy and about the three-year, 240-day, and two-year rules. This is the fourth and final installment regarding income tax dischargeability concerning unfiled or fraudulent returns and tax evasion. For an income tax to pass the fourth test, the following must be true:
1. The return [...]

This is the third installment in a series of posts analyzing when an income tax can be discharged in bankruptcy. The first two requirements–the three-year rule and 240-day rule–were discussed previously.
The third requirement is this: If a return is filed late, it must not be filed within two years of a bankruptcy for the [...]