The Internal Revenue Service (IRS) recently announced that its Free File guided software service is ready for taxpayers to use ahead of this year’s tax season. This will allow millions of taxpayers to file using free technology. Offered through a partnership between the IRS and Free File, Inc., IRS Free File is one of many options available for taxpayers for filing their returns online or in person. Eight partner organizations are available to help taxpayers with an adjusted gross income (AGI) in 2023 of $79,000 or less with their filing. Those with an AGI over $79,000 can use the IRS’s Free File Fillable Forms (FFFF), the electronic version of IRS paper forms, beginning January 29. IRS Free File providers will accept completed tax returns and hold them until they can be submitted electronically on January 29, when filing season begins. “The IRS continues its partnership with Free File Inc. to…
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Many Americans recently filed a tax return only to discover their refund was not what they had expected — or worse. Others might have prepared the documents only to seek an extension due to an unplanned need to pay. Now, the realization sets in that financial hardships remain or might have worsened. Right now, foreclosures are increasing following all of the relief and moratoriums, while adjustable-rate mortgages are going up. The restart of student loan debt repayment continues to loom. Individuals seeing renewed or increased difficulty meeting debt obligations need to know bankruptcy can help provide a path forward. Attorneys at Sader Law Firm regularly help keep individuals and families in a residence, stop calls from creditors and develop a plan to meet the specific needs of their situation. However, those considering bankruptcy should keep a few things in mind: While most types of personal obligations can be discharged through…
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By STEVEN LONG With the tax deadline behind us, there’s a wave of people with new tax debt and there are folks receiving large tax refunds. Unsurprisingly, bankruptcy law cares a fair deal about taxes in either direction. The interaction between bankruptcy and taxes is complicated enough that not all bankruptcy lawyers will know all eight of these tidbits: Bankruptcy CAN eliminate tax debt. If the tax debt is old enough and the tax returns were filed long enough ago – a Chapter 7 or Chapter 13 bankruptcy can help erase tax debt. Bankruptcy CAN help resolve tax debt. If the tax debt is too new, the bankruptcy will not be able to delete the debt, but a Chapter 13 bankruptcy can help create a forced payment plan to resolve the tax debt. Bankruptcy CAN help resolve tax liens. If the taxing entity has filed for a lien, the tax…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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