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Your Tax Refund Is Exposed In Bankruptcy, Unless…

By Cathy Moran

tax refund bankruptcy

The prospect of a tax refund makes most of us light up  even when we haven’t even calculated what the refund might be. But if you’re thinking of filing bankruptcy before you actually see Uncle Sam’s check, take a minute to plan. Your right to that refund is property of your bankruptcy estate even if […]

Filed Under: Considering Bankruptcy, Taxes Tagged With: 2018

Tax Deductions Hidden In Chapter 13

By Cathy Moran

tax deductions bankruptcy

Don’t miss the tax deductions hiding in your Chapter 13 bankruptcy. The same, very important debts that your Chapter 13 plan pays are often tax deductible. And you are still the person who’s paying, even if the trustee writes the check. Don’t miss out on those deductions. Tax deductions in bankruptcy Let’s look at some […]

Filed Under: Chapter 13, Consumer Rights, Taxes

How to fight back against EDD’s Form 1099G

By Bill Purdy

erroneous tax form1099

By William Purdy Got an EDD tax form 1099G but no benefits? At this moment, POTENTIALLY hundreds of thousands of California taxpayers are enjoying the ghastly experience of receiving a Form 1099G courtesy of the California EDD for unemployment benefits the taxpayer never received. ABC News reported the EDD has admitted to paying as much […]

Filed Under: Consumer Rights, Taxes Tagged With: 2021, identity theft

Unfiled Tax Returns Are A Life Sentence

By Cathy Moran

unfiled tax returns yield life sentence

Unfiled tax returns upset all the normal rules about discharging taxes in bankruptcy. This story tells you why. Two clients, each with $200,000 in tax debt,  came to my office this week. One can escape it all now;  the other is facing several years before bankruptcy will do anything for him. What’s the difference? Filed […]

Filed Under: Consumer Rights, Taxes

How To Make Mortgage Lender ‘Fess Up

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

Avoid Paying Taxes On That 1099 Form, Legally

By Cathy Moran

IRS form 1099

It’s tax time and the mails are full of IRS form 1099. If you managed a short sale of your property; suffered a foreclosure; filed bankruptcy; or settled your debt for less than you owed, you probably got a 1099. But that’s not the end of the tax story. Receipt of the form does not […]

Filed Under: Featured, Taxes

10 Things Tax Professionals Need To Know About Bankruptcy

By Cathy Moran

Tax season approaches. Tax preparers stand a good chance of encountering clients who either have filed bankruptcy, or who may benefit from a bankruptcy filing. Here’s my list of bankruptcy nuggets that a good tax professional should have at hand. Debts discharged in bankruptcy don’t trigger cancellation of debt income– One of bankruptcy’s compelling features […]

Filed Under: Featured, Taxes Tagged With: accountants, tax preparers

Planning For Bankruptcy: Keep Your Tax Refund

By Cathy Moran

Getting a tax refund check from the government is usually a great thing. Or at least, if you ignore that the government is returning YOUR money as a tax refund.  You’ve struggled without the money for a year while Uncle Sam used it without interest. But if you’ve filed bankruptcy during the tax year, the […]

Filed Under: How bankruptcy works, Taxes

Tax Liens Live On After Bankruptcy, Unless….

By Cathy Moran

You mean the tax liens won’t  go away when I get a bankruptcy discharge? The client was startled that the lien would live on beyond his bankruptcy. So, if all my debt doesn’t go away, what do I get from the bankruptcy discharge?  he asked. I thought the tax debt went away when I filed. […]

Filed Under: Featured, Life after bankruptcy, Taxes, True Stories

Bankruptcy Discharge Slays IRS Form 1099

By Cathy Moran

form 1099

In a duel between a tax Form 1099 and a bankruptcy discharge, bankruptcy wins every time. The prize?  no tax on debt discharged in bankruptcy. So, if you’ve already gotten your discharge, the creditor’s 1099, with your social security number on it, is no threat. But you do need to file another form to secure […]

Filed Under: Consumer Rights, Taxes Tagged With: 1099, 2019

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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

Does My Bankruptcy Lawyer Need To Be From My City?

If you're inclined pull up a map application to find a bankruptcy lawyer, I gotta ask: is proximity really the most important factor? Not by a mile. You want an experienced, local lawyer, but "local" means active before the judges in the federal judicial district where you live. It doesn't mean having an … Read more

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