Milwaukee Bankruptcy Attorney Blog by Miller & Miller Law, LLC » bankruptcy and taxes http://milwaukeebankruptcyattorneyblog.net Fri, 18 May 2012 21:28:00 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 1099-C in the mail? Read the following article: http://milwaukeebankruptcyattorneyblog.net/2012/02/1099-c-in-the-mail-read-the-following-article/ http://milwaukeebankruptcyattorneyblog.net/2012/02/1099-c-in-the-mail-read-the-following-article/#comments Wed, 29 Feb 2012 18:17:58 +0000 Jason S. Crye http://milwaukeebankruptcyattorneyblog.net/?p=679


1099-C In the Mail? How to Avoid Taxes on Cancelled Debt (via Credit.com)

If it’s been a rough couple of years for you, you’re not alone. Maybe your income was cut, you lost your job, or you had large expenses like medical bills. You may have fallen behind on bills, fielded collection calls and managed to settle some of your debts for less than the full balance you owed…

 

 

]]> http://milwaukeebankruptcyattorneyblog.net/2012/02/1099-c-in-the-mail-read-the-following-article/feed/ 0 Bankruptcy Misconception #7 Taxes http://milwaukeebankruptcyattorneyblog.net/2010/07/bankruptcy-misconception-7-taxes/ http://milwaukeebankruptcyattorneyblog.net/2010/07/bankruptcy-misconception-7-taxes/#comments Wed, 14 Jul 2010 16:24:21 +0000 wyanow http://milwaukeebankruptcyattorneyblog.net/?p=163 Taxes can’t be eliminated in bankrutpcy.  Wrong!  Many taxes are eliminated in bankruptcy. However, there are several complex rules that apply.  Eliminiating taxes depends on how old the taxes are, when the returns were filed and whether the taxes have been assessed and the type of taxes.  Both federal and state income taxes can be eliminated in bankruptcy.  In cases where taxes cannot be eliminated it is possible to force a payment plan on the IRS and stop interest and penalties.  Any questions should be directed to an attorney.

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