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Category: Bankruptcy

How to Stop a Wage Garnishment Before it is Applied

Prevent IRS wage garnishment from being applied

When you owe back taxes to the IRS, the federal agency can take several measures to collect the money owed – including garnishing your wages.  This means that the IRS can contact your employer and have them direct a portion of your income — whether it is hourly wages, salary, commissions, or bonuses — directly… Read more »

Offer in Compromise vs. Bankruptcy: Which is Better For Me?

Tax debt resolution

Being in debt is not pleasant…and tax debt is no different.  While filing for bankruptcy may help you with most debts, it is not always the best solution for dealing with IRS debts.  One of the most popular ways for dealing with IRS debts is by settling tax debts through the Offer in Compromise Program.

How Bankruptcy Affects IRS Collections

bankruptcy and the IRS

  Bankruptcy and the IRS Bankruptcy may temporarily delay collection activities by the IRS. However, some types of tax debt are not dischargeable in bankruptcy, so the IRS may be able to resume their collection efforts once the automatic stay is lifted.