May 7th, 2012 by Reed Allmand 
IRS wage garnishment, also known as a wage levy, is a forced form of collection imposed by the Internal Revenue Service (IRS). This action takes place when a taxpayer fails to pay taxes. The process allows the IRS to withhold a certain percentage of paycheck earnings to put toward outstanding taxes. The amount taken during [...]
More...May 2nd, 2012 by Reed Allmand
When it comes tax time, knowing what is rightfully yours to claim is crucial. That is why it is important to know tax essentials before tax time comes around instead of during. Since there are all sorts of rules that apply to different areas, such as if you have children, if you own a home, [...]
More...May 1st, 2012 by Reed Allmand
In order to avoid getting into tax debt, you must file your tax returns promptly and accurately. Keeping a file of your transaction records is very important so that you don’t miss out on anything when it’s time to file your tax return. However, they can accumulate over time so you need to check your [...]
More...April 26th, 2012 by Reed Allmand
Deputy Tax Collector Shirley Boyce reported that Cummings Solomon and her company New Horizons Capital Investments owe a tax of $46,000 to the town of Norway on the 12 properties that she owned during the tax year 2010-11. Out of the total amount of $45,998, $36,097 tax is due on currently owned New Horizons Capital [...]
More...April 24th, 2012 by Reed Allmand
It is possible to have certain tax debt eliminated in bankruptcy but under special circumstances. While you can include them in your bankruptcy filing along with other outstanding debt, in some cases, you’ll still be responsible for them at the end of a Chapter 7 bankruptcy or make payments on them as part of your [...]
More...April 2nd, 2012 by Reed Allmand
Dealing with income tax debt can be frustrating and for some, overwhelming. Bankruptcy has been known to help deal with credit card debt, medical bills and even helping people keep their homes, and the process may help with income tax debt. It’s not uncommon for consumers to ask about bankruptcy and how it can help [...]
More...January 20th, 2012 by Reed Allmand
When it comes to tax problems, most of us believe that the only way to get the IRS off our backs is to grit our teeth and pony up the penalties. However, while common wisdom may indicate that the only certainty in life is death and taxes, that isn’t always the case – especially if [...]
More...August 23rd, 2011 by Reed Allmand
When a debtor files Chapter 7 bankruptcy, a bankruptcy estate is created. The bankruptcy estate is made up of all the debtor’s assets, even those assets which may be later declared exempt. The bankruptcy debtor is not allowed to liquidate any assets in the bankruptcy estate and doing so could end in a denial of [...]
More...July 26th, 2011 by Reed Allmand
It’s an unfortunate reality of our current economy, but many workers over 40 are finding that their debt load is seriously interfering with their ability to either save for retirement or to maintain the savings they have already accumulated. Many over-40 workers (and those who are unemployed) are stuck in a debt trap and doing [...]
More...July 26th, 2011 by Reed Allmand
More than forty-five years have passed since Title IV of the Higher Education Act which authorizes the government to issue federal student loans was passed in 1965. Many students who took advantage of the student loan program then and in the years following still find themselves mired in debt which is nearly impossible to discharge [...]
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If you have been unemployed for a while, you may be thinking about making a career change or seeking self-unemployment. Keep in mind, some state programs are not eligible for those who are self-employed but some states may allow you to collect unemployment benefits while working toward self-employment. You’ll have to review rules and requirements [...]
An offer in compromise lets taxpayers settle tax debt for less than the original amount that is due. While the paperwork for the process can be obtained by the taxpayer who is seeking to apply, it has been recommended to work with a tax expert during the process. There are rules and requirements that need [...]
The bankruptcy process may seem challenging depending on personal circumstances and which chapter is filed. It is often wondered what happens when a co-signer files for bankruptcy protection. In many cases, a co-signer situation makes both parties responsible for outstanding debt. If the account in question goes into default, either party can be pursued by [...]
When we modify your bankruptcy plan we are changing your plan payments. This means that we have to get with your employer and change the terms and amount of your wage order. The only way we can do that is by filling out a new wage order form.
Learn MoreIf the bankruptcy stay terminates on your home that means that even though your in bankruptcy, your creditor can pursue all there legal remedies they can pursue if you were not in bankruptcy. This includes foreclosure, and having your house sold and evicting you from your house.
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