Breaking Up is Hard to Do: A Guide on Bankruptcy and Divorce
Bankruptcy and Divorce We get many people in our office post-divorce. Going from a two-income household to a one-income household is never easy; one person now pays bills previously split between two individuals. Sometimes, you may have been a house supported by one income, but now that same income is supporting two households due to […]
Till Death Do Us Part: Guide on Tax Debt in Marriage and Divorce
When a married couple files a joint tax return, both spouses are jointly and severally liable for the entire tax debt, meaning the IRS can collect the full amount from either spouse, regardless of who earned the income or caused the liability
Tax Penalties: Filing on time helps avoid extra costs
Tax Penalties The deadline to file your federal income tax return is fast approaching. Normally falling on April 15, this year it is on April 17 due to the fact that April 15 is on a Sunday and April 16 is Emancipation Day in Washington D.C., which gives everyone across the nation an extra day […]
Can I Keep My Car in Bankruptcy?
Can I keep my car in bankruptcy? One of the most common questions potential clients ask us is if they can keep a car in bankruptcy. During a Chapter 13, there is rarely an issue with a car. The question really comes up in a Chapter 7, since the court is looking at all your […]
Offer in Compromise: The Truth Behind Settling Tax Debt for Pennies on the Dollar
Settle your tax debt for less. Pennies on the dollar. Negotiate your debt for thousands less than you owe. You owe taxes and now you are trying to figure out what to do. When reviewing options, you have probably heard these statements and guarantees in your life. Lots of TV and radio ads promise these […]
Improving Your Credit Score: Taking Steps Toward Perfect Credit
Improving Credit: Tips and Tricks for Getting Your Score Closer to 850 Often after helping individuals manage their debts, we provide guidance on improving credit. In today’s world your credit score affects every day of your life. A good credit score can mean getting approved for credit that you need to buy a house or […]
Chapter 7: Ins and Out of a Bankruptcy Liquidation
A Guide to Chapter 7 Bankruptcies The most common type of bankruptcy is a Chapter 7 bankruptcy. This is also called a liquidation. The process usually takes approximately three to four months for a standard case. During this process you file a petition that provides information regarding your income, expenses, debts, assets, and personal information. […]
Experienced Northern Virginia Bankruptcy Attorney
2017 Tax Season: Things to Know and Scams to Avoid
It is 2017 Tax Season! We are in the midst of 2017 tax season. The tax filing season is in full swing. The Internal Revenue Service is anxiously awaiting for you to file your 2017 taxes. This year, you must file and pay your taxes by April 17, 2018. Remember, if you file for a tax […]
Tax Refund and Bankruptcy
Many people use their tax refund to pay for necessary expenses. For some, the money allows for repairs on their home; for others the refund allows them to pay off some debt or afford medical or dental procedures. But in general, it is money you have been waiting for all year. When you are struggling […]