Mar 20, 2022 | Bankruptcy, Tax, Tax Issues
Be sure to give the 1099 Form to your bankruptcy attorney. The tax authorities will cross-reference the information on the 1099s with your tax returns. It’s important that you address this information on your own returns. To do this, you will need to file a Form...
Feb 6, 2022 | FAQ, General Bankruptcy, Tax, Tax Issues
Taxes are among the worst debts to have. By filing your returns timely, you can avoid having these debts. Tax debts grow at a very fast rate. In addition to the interest, there are penalties. From IRS form 746: “We may charge penalties if you do not...
Jan 30, 2022 | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, FAQ, Tax, Tax Issues
It’s tax season, so that makes it a good time to answer this frequently asked question: SHOULD I FILE MY TAX RETURNS BEFORE OR AFTER I FILE BANKRUPTCY? It is probably better to file tax returns before you file bankruptcy. This is likely true whether you have a...
Sep 8, 2021 | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Tax Issues
If you want to keep the property, you will ultimately have to pay the real estate taxes. Unpaid real estate taxes in Wisconsin become a first and paramount lien upon the property of which those taxes are assessed. If not paid, the County will ultimately take the...
Jan 29, 2020 | Blog, General Bankruptcy, Tax, Tax Issues
Q: A collection company has filed 1099 C or cancellation of debt forms with the IRS on past due debts they claim are mine. They have never taken legal action against me, I talked with them once after statute of limitations expired, I have never acknowledged owing...
