My good friend, Attorney Jonathan Ginsberg of Atlanta, Georgia posted some very interesting comments in response to my June 12, 2007 blog post dealing with discharging taxes in bankruptcy. By the way he has a great website at: http://thebklawyer.com that you should check out if you are contemplating bankruptcy (especially if you live in Georgia.) Click on the video to hear my responses to his two main points. His first point was that liens survive a Chapter 7 bankruptcy and his second point is that taxes can also be discharged via Chapter 13 bankruptcy. I agree with him on both points with some subtle distinctions. It really is pretty interesting stuff so take a look at the video. If you need immediate assistance with an IRS Problem, please visit my main site for IRS Problems
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You have an IRS Problem and need IRS help. Do all Offers in Compromise need to be lump sum payments? If they accept your Offer does it need to be paid all at once? Can you make payments? If so, for how long? Learn the answers to these questions and more in the video post below Filing an Offer in Compromise is not for the faint of heart. Far more Offers in Compromise are rejected or returned than are accepted by the IRS. Do you want to file more than one Offer in Compromise? Not likely. It's best to have your ducks in a row; file one; get it accepted and move on with your life. Take a look at this Offer in Compromise article that I wrote. Hopefully it helps you gain a better understanding of what taxpayers are up against. If you need immediate assistance with an IRS Problem, please visit my main site for IRS Problems
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Probably the most common question I get from people who need IRS help is can I have a payment plan? They say I'm not trying to get out of paying, I just can't pay all of it off at once. The answer is usually yes. There are several different types of Installment Agreement as the IRS calls a payment plan. Watch the video below and learn the different types of Installment Agreement and whether you qualify for one. People who are suffering from IRS Problems need to be careful about deciding whether an Installment Agreement is right for them. Only a qualified tax attorney can give you the best advice.
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The truth is there is a time limit. It�s called the Collection Statute Expiration Date or CSED. In short, the IRS only ten years from the date of assessment of the tax to collect it. Does this mean all you have to do is ignore them for ten years? Not hardly. Learn more about the Collection Statute Expiration Date and how it might be the IRS Tax help that you�ve been waiting to end your IRS Problem for good! Click on the video below.
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If you call ten bankruptcy lawyers today and ask this question, you will get nine "No" answers and one "Yes." That's frightening because IRS taxes, under certain circumstances, can be discharged in bankruptcy. Very specific timing rules must be considered before you decide that bankruptcy is the answer to your IRS Tax Problems. It is important that you seek the proper IRS representation before filing an IRS tax bankruptcy, and preferably you should seek the services of a qualified attorney, since they understand the bankruptcy ramifications much more thoroughly than a CPA for example. Very few professionals in the entire country understand these timing rules and are qualified to give you an opinion. If your bankruptcy lawyer shrugs his shoulders and says "maybe your taxes will be discharged, we'll wait and see" run very far, very fast and get another lawyer. See the movie below for more information about the timing rules and how they are applied to your IRS tax problem. A bankruptcy might just be the IRS Tax help you were looking for.
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