Category Archives: Tax Issues

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Will My Tax Debt Be Discharged Under Chapter 7 Bankruptcy?

Discharging old tax debts is a major goal for many Americans who have fallen behind on paying taxes. Much of the public mistakenly believes that filing for bankruptcy will automatically clear all debts including tax debts, but this isn’t always the case. You may be able to discharge certain tax debts when filing for Chapter……
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Tax Obligations and Debt Problems May Be Greater for Married Couples

It used to be assumed that getting married would help to alleviate debt concerns because doing so would have a positive effect on a person’s tax bill, among other things. However, that may not actually be the case, especially if both spouses have high annual incomes. Beyond that, getting married can potentially reduce a person’s……
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“Real Housewives” Stars Look to Make Good in Reopened Bankruptcy Case

The bankruptcy case for reality TV star Teresa Giudice has been reopened. Teresa, and her husband Joe Giudice, were previously convicted of bankruptcy fraud and sentenced to prison terms. Now the Giudices have another chance to properly acknowledge their debts while filing for bankruptcy. The reality television stars recently spoke to the media, through their……
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Study Contradicts Theory That Millionaires Flee States with Higher Taxes

It has long been assumed that high net worth individuals, along with their businesses, are more likely to move when states raise tax rates on the rich. However, a new study shows that perhaps this is inaccurate: millionaires do not necessarily move to low-tax states, or no-tax states, in order to avoid paying a higher……
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