Taxes and Bankruptcy in Maryland

Despite common belief, taxes can be discharged sometimes through either a Chapter 7 or Chapter 13 bankruptcy.  In fact, bankruptcy is often the best option for many with tax debts.  A tax attorney will typically be familiar with both the tax law and non-tax law options available to you and should be able to point you toward the best solution. Continue reading “Taxes and Bankruptcy in Maryland”

Tax Installment Agreements – Payment Plans

If you are unable to pay the Internal Revenue Service for taxes you owe, you may be able to qualify for a tax payment plan.  The IRS calls such payment plans an Installment Agreement.   Your state, including Maryland, also may offer similar tax payment plans.

While most would prefer to obtain an offer in compromise, which reduces the total tax debt, many will not qualify because either their income is too high (by IRS standards) or the taxpayer has too many assets, which includes home equity.  Thus, that taxpayer’s only option may only be to request a payment plan. Continue reading “Tax Installment Agreements – Payment Plans”

10 Ways to Spot Tax Settlement Scams

Many unscrupulous tax debt settlement companies swindle consumers using the legitimate IRS offer-in-compromise process.  A recent Inc. magazine article lists tax relief services among its “7 Businesses To Watch Out For”.  I do not doubt it!  As a Maryland tax attorney I have received countless calls from taxpayers who previously fell victim to scam tax relief companies that claimed they could resolve any tax problem through the IRS tax debt settlement program, the Offer-In-Compromise.

Conversations with clients previously cheated by these companies provide me the following tell-tale signs of an unethical tax settlement company:

Continue reading “10 Ways to Spot Tax Settlement Scams”