Herrin Law | Blog
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A common question I always receive from debtors is "do I have to do anything different when I file my tax returns?" The short answer is no. This article will address the actions a debtor must take in order to properly file a tax return with the Internal Revenue Service and have no negative impacts on their bankruptcy. FILING TAX RETURNS WHILE IN BANKRUPTCY There is no special address your return is sent to or a different website you...

To answer this question, we first need to identify which chapter of bankruptcy you have filed or are planning to file.  There are several chapters, but the primary consumer chapters are known as a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Chapter 7 Bankruptcy: In a Chapter 7 Bankruptcy, the timing of the tax refund is important.  Bankruptcy allows most people to keep all of their property. This is accomplished by using state or federal exemptions....

So you filed a bankruptcy and received your discharge and do not want to ever have your wages garnished again; this article is to help you avoid that situation for ever. First you need to congratulate yourself; you have made it through the hurdle of completing your bankruptcy and receiving your discharge! You now have your fresh start and the goal is to never fall back into the patterns or events that lead to your financial...

We too often put our financial security off into the distant future. Someday, I will make more money and then I will start saving.  Someday, when I have more money I will start putting money aside for retirement.  Someday, when my mortgage is paid off I will be able to really invest. Someday almost never comes. As a Fort Worth bankruptcy lawyer, I have counseled over 3,000 people who have had financial setbacks in one form or...

What is an IRS Levy? An IRS Levy is a tool used by the IRS to reclaim back taxes.  It allows the IRS to freeze your wages, retirement funds or bank accounts and withdraw any available funds to pay off your debt.  The IRS does not care about the bills you have to pay or the fact that you may need to put food on the table.  Once they have their levy, they will use it...