What Can You Accomplish With A Chapter 7 Bankruptcy?


Chapter 7 bankruptcy law is designed to make it possible for folks who see no light at the end of the financial tunnel to get a fresh start. Chapter 7 accomplishes this by taking two drastic steps. First, as much of the debtor's non-essential assets are liquidated as possible, with the proceeds of the sales going to the creditors. Second, any outstanding unsecured and non-exempt debts are then discharged. You may be wondering how exactly that would help you.

31 March 2020

What You Should Do if the IRS Is Auditing You


The IRS selected 1 million tax returns from 2017 for audits. While this means that they audit roughly 0.5% of all taxpayers, there is always a chance that you will be next. If you already received a document from the IRS that informs you of the audit, you should follow these steps. 1. Address the Letter Receiving a letter in the mail that is from the IRS is never something people anticipate with joy, except when they know it is a tax check.

25 March 2020