By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7As we all know, April 15 is a bad day for almost all of us. This is the day we are supposed to report to the beloved Internal Revenue Service (and usually our state revenue departments) and find out how much we owe them in taxes (and, yes, that includes people who get a refund… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7If you are required to file tax returns, it is very important that you make sure all returns are filed before you file for Bankruptcy, if at all possible. Surely there are times when it is not possible to catch up on prior returns, such as when a foreclosure is coming up soon, but even… Continue Reading
By Scott Riddle Posted in Chapter 11,Chapter 13,Chapter 7If you own a small business that is organized as a corporation or limited liability company you probably understand that you are generally not personally responsible for the business debts unless you agree to be responsible (for example, personal guarantees). However, one exception to the rule is personal liability for payroll taxes that should… Continue Reading
By Scott Riddle Posted in Chapter 11,Chapter 13,Chapter 7As this post is written, many people have either recently filed their tax returns or are getting ready to file by the April 15 deadline. While most of us are not happy happy happy this time of year, for some people it is a reminder of their lingering tax debt from prior years. A common… Continue Reading
