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Bankruptcy Busts Taxes If The Timing Is Right

By Cathy Moran

taxes dischargeable

Got unpaid taxes for 2019?  Three tax discharge timing rules control when those taxes can be wiped out in bankruptcy. On April 15, 2023 those taxes reached the end of the line as priority claims in bankruptcy.  Or, the magic date may be October 15, 2023, if you got an extension to file the return. […]

Filed Under: Consumer Rights, Taxes Tagged With: 2017, bankruptcy timing, discharge taxes

Stop Making Quarterly Tax Payments

By Cathy Moran Leave a Comment

quarterly tax payment

Uncle Sam expects a quarterly tax payment from the self employed.  Since you don’t get a paycheck with regular tax withholding, the burden’s on you. Lighten the burden. Make this the last quarterly tax payment you pay. Seriously.  Don’t make any quarterly payments for this coming year. Think I’m advocating tax resistance?  No way. The tax collectors […]

Filed Under: Consumer Rights, Taxes Tagged With: self employed taxes

Cut Tax Penalties In Bankruptcy

By Cathy Moran

Get in tax trouble and the tax penalties often grow huge. What starts as a manageable problem can soon tower over you. Breathe deep;  there is a solution. Chapter 13 bankruptcy can cut tax penalties down to size. All tax penalties discharged in 13 Old or new, large or small, Chapter 13 discharges all unsecured […]

Filed Under: Chapter 13, Consumer Rights, Taxes Tagged With: tax penalties

Don’t File Bankruptcy In December

By Cathy Moran

wait to file bankruptcy

Bankruptcy can provide tax relief,  if your timing is right. Tax troubles are at the heart of so many bankruptcy filings.  It makes sense:  bankruptcy is a powerful and predictable tool to get out of tax debt. But filing bankruptcy before the end of the year may fix only a part of your tax problems.  […]

Filed Under: Featured, Taxes Tagged With: 2016, discharge taxes

Get real information about what’s happening with your mortgage loan payments

By Cathy Moran

What have they been doing with my mortgage payments? The client has been making a mortgage payment according to the HAMP formula for almost 18 months of her Chapter 13. Yet without a 1098 form, her very capable tax preparer told her she couldn’t deduct mortgage interest on her tax return. Never fear. We have a new […]

Filed Under: Real property & mortgages, Taxes Tagged With: loan payments, QWR, request for information

Bail Yourself Out Of Payroll Tax Trouble

By Cathy Moran

Business owners with unpaid payroll taxes are in deep trouble. Even if the employer is a corporation, the corporation’s managers are personally liable for the trust fund portion of unpaid payroll taxes. There’s no corporate shield when it comes to payroll taxes. You are in the IRS’s cross hairs, personally, if the business hands out “net” checks […]

Filed Under: Consumer Rights, Small business, Taxes Tagged With: 2016

Take Credit For The Tax Deductions That Hide In Chapter 13

By Cathy Moran

tax deductions bankruptcy

It’s tax time: don’t overlook tax deductions in Chapter 13 bankruptcy case. Tax deductions lurk in the most unlikely places. If your Chapter 13 plan is catching up home loan arrears, there’s a deduction hiding in the trustee’s disbursement records. Most likely, the lender’s filed proof of claim in the bankruptcy case is full of […]

Filed Under: Consumer Rights, Taxes

4 Compelling Reasons To File The Tax Return Even If You Can’t Pay

By Cathy Moran

Should you file the tax return if you can’t pay the tax? You got to the bottom of your tax return and the amount you owe is bigger than your checkbook balance. Scared of filing the return for fear of immediate collection action? Scared of even calculating how much you owe?  think an extension of […]

Filed Under: Featured, Taxes Tagged With: 2016

The Unexpected Loss When Tax Returns Filed Late

By Cathy Moran

late tax returns

File your tax returns really late and you may lose out on credit for toward your Social Security. Betcha didn’t know there was a connection between income taxes and your Social Security benefits.  This was a new one for me. I’ve written often about the negative consequences of putting off filing tax returns. But Harvard Law professor […]

Filed Under: Consumer Rights, Taxes Tagged With: 2018

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Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

How To Pay For Bankruptcy When You’re Flat Broke

One of the cosmic ironies of our legal system is that it costs money to file bankruptcy. Bankruptcy gets you out of debt only if you have the money to file. The costs of bankruptcy include the filing fee collected by the court; the required credit counseling; and, if you're smart, an experienced lawyer to make sure … Read more

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