Tag: Bankruptcy Tax

if a taxpayer owes taxes to the IRS and other debts that might push them toward bankruptcy, is it beneficial to pay the IRS first? What if the taxes are not dischargeable in bankruptcy given the various timing rules? Would this change the answer? For individuals, the bankruptcy process involves the appointment of a trustee.… Continue reading Paying Taxes to the IRS Prior to Filing Bankruptcy

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While owing money to the IRS is not ideal, it is often manageable. One just needs a view of the longer time horizon. As it turns out, in many cases, the IRS never even bothers to attempt to collect unpaid taxes and/or it ends up only collecting a small amount. While there are a lot… Continue reading The “Wait & See” Approach to IRS Tax Debts

The post The “Wait & See” Approach to IRS Tax Debts appeared first on Houston Tax Attorneys | Mitchell Tax Law.

There is a large segment of our population that owe back taxes to the IRS. Whether you know of their situation, chances are good that you know someone who owes back taxes. Chances are good that you have unwittingly transacted business with an individual or business that owes back taxes. You may have even worked… Continue reading Does Nominee Tax Liability Extend to Employees?

The post Does Nominee Tax Liability Extend to Employees? appeared first on Mitchell Tax Law.