Will I Lose My Tax Refund if I File Chapter 7?
Filing for bankruptcy can be complex, especially regarding your tax refund. If you’re considering Chapter 7 bankruptcy, you might wonder what will happen to that much-needed tax refund. Let’s go ahead and dive into the details and explore your options. When you file for Chapter 7 bankruptcy, a court-appointed trustee distributes your non-exempt assets to…
Notice of Intent to Levy – What Purpose Does It Really Fulfill Or Is It Just A Scare Tactic?
In addition to the requirements of proper notice and demand, two different notices of intent to levy are required. First, ยง6331(d) requires that the IRS notify the taxpayer in writing of the IRS’s intention to levy on the taxpayer’s salary, wages, or other property, at least 30 days before the date of the levy. In…
