Let’s back up and do an introduction and talk about some important points about what tax debt is and how to best deal with it. Tax debt considerations in Long Beach, California can be more critical than for states that have no state income tax, or in sates that have a reasonable state tax. The …
Tag Archives: #TaxRelief
Instructive Warning Cases
The recent case of Hugger v. Warfield (In re Hugger), 2019 WL 1594017 (9th Cir. BAP Apr. 5, 2019)(not officially published for citation)(http://cdn.ca9.uscourts.gov/datastore/bap/2019/04/08/Hugger%20-%20Memorandum%2018-1003.pdf), U.S. Bankruptcy Appellate Panel of the Ninth Circuit (the “BAP”) in an Appeal from the United States Bankruptcy Court for the District of Arizona, illustrates mathematically one of the harshest outcomes to …
Bankruptcy & Offer-In-Compromise – The Hot Dog Stand Paradigm
Have you ever walked down a street and made eye contact with a hot dog stand vendor? Did you notice that the vendor grabs his tongs and pulls out a square of hot dog wrap paper in preparation for you to complete an order even before you have had a chance to say one word? …
Continue reading “Bankruptcy & Offer-In-Compromise – The Hot Dog Stand Paradigm”
A Tax Debt Only Comparison of Offer-In-Compromise and Chapter 7 Bankruptcy in California Graduating From a Homelessness Base Case
IntroductionTable 1 indicates some comparison of the conditions through which one may enter and take advantage of either offer-in-compromise or chapter 7 bankruptcy shown side by side for a partial comparison. Table 2 involves a progression starting with an individual with tax debt only with additions toproperty by category and with level income used only …
How Far Can You Delay Paying Federal Tax Authorities Before Criminal Tax Evasion Charges are Filed?
A series of related cases illustrate the very bad results that can come from fighting the IRS in a non-direct way. We have heard informal rules of thumb regarding tax evasion. One rule of thumb might be that if you actually evade payment of tax for huge sum of money that you are more likely …
Taxpayer First Act Credit Card Trap
President Donald Trump signed the Taxpayer First Act on July 1, 2019. The Taxpayer First Act has a number of provisions, some of which will help IRS with its internal processes, and some of which are external and aspirational. As to one of the provisions, the IRS is about to embark on a relationship with …
There are Usually 6 Tax Choices At Any Given Point In Time
(1) Challenge the substantive tax. A substantive tax challenge is most easily and early performed (a) by challenging the mathematical basis for the tax at the earliest moment. It can also be performed (b) most expensively later, after the Tax Court possibilities are gone, by paying the tax, requesting a refund, and then bringing suit …
Continue reading “There are Usually 6 Tax Choices At Any Given Point In Time”
Tax Debt Approach 