Welcome to our page about the IRS Transcript codes for bankrupting taxes. To determine the exact date when you can bankrupt the income or dischargeable portion of a trust tax, you must obtain the tax transcript and review these key codes. The IRS has updated its transcript format to enhance the protection of taxpayer data…
Everyone has a problem sooner or later. The problem is you never know when it will come along. So, if you use a credit card or purchase an auto just before filing, you are probably an honest but unfortunate debtor who didn’t know that bankruptcy was around the corner. People also often charge items on…
Since 2005 Congress has required consumer debtors to attend a credit counseling class before they file. They also must attend a debtor education class after they file to get a discharge. Our office can easily prepare a petition with only income information. However, we cannot file the petition without the credit counseling certificate. Both courses…
Welcome to our post to help you learn about the Small Business Reorganization Act of 2019 (SBRA). We filed a Kentucky SBRA Chapter 11 Bankruptcy case in Louisville hours after the act went into effect. Under the SBRA, filing is supposed to be more simple than a normal Chapter 11. But SBRA cases move very…
You file Chapter 13 bankruptcy and it is confirmed. If possible, you want to complete your Chapter 13 to ensure you receive a discharge at the end of your plan. With Chapter 13, dismissal is when the case gets terminated without the entry of a discharge of debt. However, when the courts enter a discharge…
Bankruptcy court judges have essentially the same powers as district court judges. Not only do they decide bankruptcy issues but they also decide other issues such as Fair Debt Collection Practices Act (FDCPA) issues or issues which involve the debtor. Adversary lawsuits are lawsuits separate from the bankruptcy. These adversary cases often involve issues of…