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Before You File for a Chapter 7, Chat With Us First! • The debt must be income taxes, as they are the only dissolvable type of debt. • The IRS must have assessed your income tax at least 240 days before you filed for bankruptcy. • The tax debt must have been due at least three years before filing for bankruptcy. Also, taxes will not be discharged if fraudulent returns were filed or an individual knowingly attempted to evade tax payments. Certain jurisdictions may have additional requirements, such as a history of filing tax returns promptly. Filing for bankruptcy is not a decision to be taken lightly, and it’s paramount to remember that bankruptcy does not mean you can escape all your tax debt. Chapter 7 bankruptcy will
WIN OF THE MONTH Sometimes, Switching Gears Is the Answer! CASE SNAPSHOT Client: North Carolina Resident With House and Family in Illinois
not help you deal with unfiled tax returns, recently filed tax returns, and trust-type taxes and can potentially leave you with lingering complications. Your credit
score may also take a plunge. Thus, before considering filing for bankruptcy to achieve
tax relief, consult one of our trusted tax relief specialists today! We are here to help.
INGREDIENTS
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4 cups fusilli noodles
2 cups crab meat or shrimp
2 cups shredded cheddar cheese
2 cups ranch dressing
Type of IRS Issue: IRS Error Tax Year in Question: 2014 IRS Claimed Liability: $10,840.00 Savings: $8,942
1 cup frozen peas, thawed
1/2 cup chopped green peppers 1/2 cup chopped red peppers
1/2 cup diced onions 1/2 cup shredded carrots
2 cups halved cherry tomatoes
1/2 cup of Parmesan cheese (optional)
DIRECTIONS
Our client came to us nervous and confused with a proposed tax liability from the IRS of $10,840 from the state of Illinois. The client resided and worked in North Carolina, and his wife lived in Illinois. The state calculated his tax, forgetting to include the credit for the North Carolina taxes the family had already paid. We got right to work, created the correct Illinois return, and were able to save our client $8,942! This was not the original scope of our engagement, but we were able to pivot and get a great outcome for or client!
1. In a large pot, bring the fusilli noodles to a boil and cook until al dente, then drain. 2. In a large bowl, combine noodles, crab or shrimp, cheddar cheese, ranch dressing, peas, green and red peppers, onions, and carrots, then mix together gently. 3. Refrigerate the pasta salad for 3–4 hours. If salad is dry upon removing from refrigerator, add more ranch dressing. 4. Once you’re ready to eat, top salad with tomatoes and Parmesan cheese if desired.
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