The IRS has become more aggressive in the Northern District of California in bringing motions to dismiss otherwise performing Chapter 13 cases where the debtor has failed to pay taxes that came due after filing.
The premise of Chapter 13 is that the debtor gets protection from his pre filing creditors, and pays them from his [...]

My recent post on the Mortgage Forgiveness Debt Relief Tax Act of 2007  entitled Home Loan Foreclosure No Longer a Tax Trap appears in Don’t Mess With Taxes.  That website, created by professional journalist and self-proclaimed tax geek, Kay Bell, is a collection of useful links, tips and stories about tax issues.  It is called, in internet speak, a carnival.  This is [...]

How spouses hold title to their home has far broader implications than the stepped up tax basis at death noted by The Consumerist. The post noted correctly that a house held in community property gets a step-up in basis on both the decedent’s half and the surviving spouse’s half of the property when one [...]

You have lost your home to foreclosure. Surprise, here is the bill for the income tax you now owe. Maybe not, if you are one of the former homeowners saved from grief by new federal legislation. On December 20, 2007, the Mortgage Forgiveness Debt Relief Act of 2007 became law. This new law will protect [...]

We have written many posts about exemptions, the list of property you can keep in bankruptcy. It is important to remember that exemptions don’t halt the Internal Revenue Service.
Only a small amount of personal effects is exempt from levy by the IRS outside of bankruptcy and no property will be excluded from a IRS [...]

If you file a bankruptcy petition and you are an above-the-median debtor, you have to complete the “means test”.  One of the allowable expenses to be subtracted from the average of your previous six months of gross income is your income tax liability.  This is found on Line 25 of Official Form 22A and line [...]

If a debtor’s loan is a non-escrowed loan and the property taxes are current when the bankruptcy case is filed, the debtor should consider scheduling the taxing authorities for notice purposes only so that if the debtor becomes delinquent on post-petition taxes, the taxing authorities do not file suit in state court and then proceed [...]

Pursuant to Section 33.06 of the Texas Tax Code, homeowners over the age of 65, disabled persons, and persons 55 years of age or over who are the surviving spouse of a person previously entitled to a tax deferment may be entitled to complete deferment of taxes owed on the property for as long as [...]

Texas law gives additional homestead exemptions to homeowners 65 years of age or older, if you are a disabled homeowner, or if you are a disabled veteran.
If you liked that post, then try these…Incorporation saves business in Chapter 7 bankruptcy by Cathy Moran, California bankruptcy lawyerA Bankruptcy Attorney’s Story: Catching Those Who Are [...]

The Texas Tax Code now allows Texans who own real property in Texas to take out a loan with a third party to pay past due property taxes. However, these loans come at an otherwise unnecessary and exorbitant cost to the borrower (property owner).
If you liked that post, then try these…How Do I Prove [...]