Written by attorney Shannon Becker, 7 months ago.
Question: Can the Internal Revenue Service attach life insurance proceeds payable to a specified beneficiary to satisfy a decedents tax debt? Case Example: When Decedent died, she had an... more
Written by attorney Katherine Flood, 27 days ago.
Do you have kids? Do you have an ex (or a soon-to-be ex)? If so, then you have some figuring-out to do, because it is tax time, and who gets the tax credits for the kids is one of the most fought-... more
Written by attorney Anthony Azemika, over 2 years ago.
The United States Tax Court has ruled that Father whose ex-wife disappeared with their two children in 1999, cannot claim dependency exemptions that he was entitled to under the parties' divorce... more
Written by attorney Kevin Johnson, almost 3 years ago.
This is a common question that comes from many of our clients. Whether you received a discharge in a Chapter 13 or a Chapter 7, the debts that have been discharged are not income for tax purposes.... more
Written by attorney Anthony Azemika, over 2 years ago.
A U.S. Tax Court has ruled that Father may not claim dependency exemption and child tax credit for his son because Mother refused to sign a release of exemption, stipulation and divorce judgment... more
Written by attorney Adam Cordover, over 2 years ago.
Its human nature to want to avoid unpleasant experiences. Thats why there are so many cavities and income tax extension requests. However, one thing that people should not avoid is paying court-... more
Written by attorney Darcel Lobo, about 2 years ago.
There are some debts and obligations that will not be discharged in a Chapter 7 bankruptcy. These debts include: Federal, State, and local taxes that became due in the last 3 years; Court ordered... more
Written by attorney Ivan Cohen, about 4 years ago.
Reduce a debt to a judgment. While forgiveness of unpaid debts is a normal function of any downward business cycle, creditors need to determine whether there is value in reducing the debt to a... more
Written by attorney Steven Eisenberg, over 4 years ago.
How to Divide Retirement Benefits in a Divorce. After a divorce a Court may order you to transfer all or part of your retirement plan(s) to your former spouse. If you transfer assets held in a... more
Written by attorney Ayuban Tomas, over 2 years ago.
In the previous amnesty program put forth by the IRS, participating taxpayers who voluntarily disclosed unreported foreign bank accounts were required to amend six years of tax returns, pay the tax,... more
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