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Chapter 7 Bankruptcy Tax Attorney Riverside California
BankruptcyFinally ... A Stress Free Day

Bankruptcy Tax Law

There is no reason to feel "guilty" for having to file for bankruptcy.
Filing for bankruptcy protection is NOT an indication of permanent failure or of dishonesty, and is often most HONEST approach to handling a financial crisis than other options.

Things happen; the U.S. Constitution specifically authorized congress to enact legislation for the purpose of providing bankruptcy protection; therefore, congress enacted laws that are designed to benefit YOU, your creditors, businesses, and the economy. This is accomplished because the laws attempt to provide a way for persons and businesses to continue on as normally as possible instead of experiencing such a blow that they are unable to any longer make any worthwhile contribution to national commerce.

Bankruptcy and IRS Debt

IRS debt can be discharged in bankruptcy. However, the laws that apply to IRS debts are somewhat complicated. Do not rush into bankruptcy due to an IRS tax debt without obtaining a careful and meaningful review of your IRS-debt situation by an attorney who does more than just bankruptcy law or by an attorney who will work with a federal tax professional.

There are several traps when it comes to discharging IRS debt in bankruptcy. One is the 3-year-since- the-filing-was-due requirement and another is the 280 days-from-assessment requirement. If you meet the 3-year requirement, you may not have met the 280-day requirement due to many possible factors; such as, you were involved in negotiations with the IRS, signed an installment agreement, entered into an Offer in Compromise Agreement, received an IRS penalty for civil fraud or failed to timely file a previous tax return. In fact, you may find that some of your IRS debt is dischargeable and some of it is not dischargeable.

Most surprising to many is that even if the actual tax debt is discharged in bankruptcy, certain IRS tax liens placed on your property because of the IRS debt that was discharged will remain in effect against your residence or other certain property that was actually exempt from the bankruptcy. The result is that the tax debt is discharged in bankruptcy; but, if you try to sell property that you retained because it was exempt property (e.g., your residence) after the bankruptcy case is closed, the IRS may still step in and seize the proceeds from the sale to satisfy the IRS debt.

A person needing to file for bankruptcy protection in California, should AVOID "BANKRUPTCY MILLS".

He or she should instead seek out an Experienced Bankruptcy Attorney that is known to thoughtfully review each client's individual circumstances and assist that client accordingly.

Do not get "talked into" legal services that you do not need! Many people are talked into filing for Chapter 7 Bankruptcy protection by large "Bankruptcy Mills" when it may not be in their best interest. If you are underwater on your mortgage; that is, you owe more on your home loan than your home is worth, filing may not be your best option. If your mortgage is your only substantial debt, there are other methods by which you can fix this problem without going through the experience of filing.

Choosing the right bankruptcy attorney in northern California. If you go to meet with a lawyer about your issues and you are met by a receptionist behind a glass barrier that hands you a long form to complete; that requires all of your personal and financial information BEFORE you ever meet with a real attorney, you may want to run.

It is not uncommon for a person who files for bankruptcy to think everything is going to be fine; but are rudely surprised when they attend their meeting of creditors and the court ends up taking from them all of their money and other property. Most attorneys who run "Bankruptcy Mills" do not even know the client or the client's information. There are many times when we have seen attorneys show up in court and not even recognize their own client. If the attorney does not familiarize themselves with the client, and allows their paralegal to do all the work, the entire process ends up being more stressful and damaging to the client. It has been common for us to have a person contact us who is frustrated with their bankruptcy lawyer because they are not giving them the one-on-one attention needed to ensure that their experience is a good one.

An attorney who states "That's ALL We Do" may not be equipped to do little more than try to talk you into filing a bankruptcy in order to fix your real estate debts; because that is "What They Do" and nothing else. They do no profit by explaining to you all the options available, so they often are not interested in meeting with you UNLESS you are going to actually file. Choosing an attorney that has the Experience necessary to fully inform you of ALL of the options available to you is VERY important.

There are some bankruptcy attorneys who do nothing but bankruptcies who are good, and who will not conduct themselves in this unprofessional manner.

Bankruptcy law has undergone some changes lately. Filing has become more difficult than in the past due to the recent changes in the law. Many may not easily qualify for protection when in the past they would have. However, if you speak to an Experienced attorney, you will be pleasantly surprised at what options may be available to you by either filing or by using other strategies to manage or control your financial matters. What about those Low Cost Firms that advertise everywhere? Do not get fooled by the "Bankruptcy Mills" that offer filings for just a few dollars. Most of the time the advertised fee is not an honest representation of the total fees you will need to pay using an actual lawyer. When looking for a lawyer, choose one that is up front regarding the TOTAL cost of filing. $100 dollars down will get you nowhere.

The "Free Consultation" sales gimmick. You get what you pay for. In most cases, the "free consultation" is simply a sales ploy to get you into their office so they can obtain your personal information and determine how to sell you on using their services. In more cases than not, information obtained in free consultations is not enough to prepare you to handle your legal matters. For useful, legal assistance, you will need to pay for it. Instead of a "free consultation", it is easier and quicker to spend a few short moments on the phone with a lawyer so he or she can provide you with all of the initial direction you may need to determine whether or not you need a lawyer and if the lawyer with whom you are speaking is the one for you...and that short communication should be FREE!

California Tax Law Help

IRS Tax Law Problems-Issues?
IRS Tax Law Problems-Issues?
"An Enrolled Agent that is also an Attorney, unlike other attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and before which IRS jurisdiction they can represent clients."
FTB Tax Law Problems-Issues?
FTB Tax Law Problems-Issues?
    Please Be Aware: Individuals who deliberately fail to comply with federal or state tax laws may be subject to a criminal investigation, which could result in prosecution, fines, and imprisonment. Do not deliberately ignore your problems with the IRS or FTB; instead, contact a professional as soon as possible and settle any issues you may have.

“BEST Bankruptcy Attorney! I cannot express to you how much stress I DO NOT HAVE... Thank You David!...”
Eric C.

Legal Disclaimer

The information you obtain at this site is not, nor is it intended to be, legal advice.

You should consult an Attorney or Lawyer for individual advice regarding your own situation. Nothing contained on these pages should be interpreted as establishing an attorney-client and/or lawyer-client relationship. ALL Tax Problems . com | The Nevada & California Tax Law Center | © 2014 All rights reserved. You may reproduce materials available at this site for your own personal use. All copies must include the above copyright notice.

IRS Circular 230 Disclosure:
As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained in this communication was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code. Furthermore, the contents of this website are neither intended to be, nor should be, construed as either legal OR tax advice. Each individual's circumstances are unique. This site contains general and overall discussions, and as such, the content of this site is not intended as definitive legal or tax advice that would apply to any particular person. Those who view this web site should seek advice from an independent tax advisor with respect to their particular transaction or matters that is based on the reader's particular circumstances. You must have your particular financial and tax situation personally reviewed by a tax professional or attorney in order to obtain tax or legal advice upon which you can rely.

David DL Horton, Esq., EA
**Licensed in California**
**Practice in Nevada limited to federal tax law & legal work performed under continuous direction and approval of Jacqueline Mary McQuigg, Esq.**

In NEVADA, services provided are strictly limited to those authorized by the IRS under Treasury Department Circular No. 230. 31 U.S.C. ยง330. Should a client need legal services related to Nevada-law matters such as probating an estate, real estate law, filing a petition for bankruptcy, or any other Nevada-law matter, the client must enter into a separate agreement with, and directly engage the services of, Jacqueline Mary McQuigg & Associates, or another Nevada-licensed attorney.

Jacqueline Mary McQuigg & Associates
2620 Regatta Drive | Suite 102
Las Vegas, Nevada 89128


Office: (702) 925-8701
Mobile: (310) 310-9866