Debt Archives - 2008 Taxes to 2013 Taxes

Tag Archives: Debt

Bringing Down the Burden of Tax Debt – Offers in Compromise

March 27, 2012 – 9:45 pm

People all over the world are struggling with debt in the current global financial climate. For most people these debts will be to do with credit cards and loans, or having over-extended on a mortgage. For a small number of people however, it will be large tax debts owing that are causing them trouble. And often these debts can be just as stressful and just as crippling, with the belief that there is nothing you can do when you face going under, simply because you are dealing with the IRS. To a certain extent this is true – the … Read more at 2008 Taxes.

By Steve | Posted in Debt Relief, irs, tax credit, tax planning, tax return | Also tagged Accounting, Esther, internalrevenueservice, irs, Offer in compromise, tax, United States | Comments (2)

Can You Discharge Your Tax Debts In Bankruptcy Court

February 15, 2012 – 1:23 pm

There are many debts that you can discharge through bankruptcy. Is tax debt eligible for discharge through bankruptcy? In some circumstances, a taxpayer can go to bankruptcy court and have an old tax debt discharged. There are criteria that have to be met for that to happen.

The Debt Was From A Tax Year At Least Three Years Ago

A petitioner facing a judge in bankruptcy court today would only be eligible for relief from taxes filed before 2009. Any other tax debt would be ineligible for discharge in bankruptcy court. The 36 month period starts on the day … Read more at 2008 Taxes.

By Steve | Posted in turbotax | Also tagged Bankruptcy, Bankruptcy discharge, Debt Relief, Good faith, internalrevenueservice, irs, tax, Tax Preparation, tax return, turbotax | Comments (2)

Dealing with IRS Tax Debt

February 2, 2011 – 9:38 am

Dealing with tax debt is different from how you handle your other debts. But you need not worry since it can be managed given the right amount of patience as well as the willingness on your part to lower down your debts.

For starters, getting debt help is highly recommendable especially for those who do not know where and how to start eliminating their outstanding balances with their creditors. Seeking for professional assistance is a very sensible thing to do because you will have to think of it as an investment in order for you to live a comfortable … Read more at 2008 Taxes.