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Shamsey Oloko March 16, 2016 Bankruptcy, Civil Liabilities, Collection Activities, Income Tax, New York State Tax, New York State Tax Law, Taxable Income

Can I Discharge Taxes In Bankruptcy?

The ultimate purpose in filing bankruptcy is to obtain a discharge of most, if not all, of your debts. A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts, i.e., the debtor is no longer…

Shamsey Oloko March 2, 2016 Appeals, Audit, Civil Liabilities, Civil Penalties, Criminal Liabilities, Fraudulent Return, News, Punitive Damages

What Is The United States Tax Court And What Happens When The Tax Court Hears A Case?

The United States Tax Court is a federal trial court established by Congress under Article I of the U.S. Constitution, section 8. The Tax Court specializes in adjudicating disputes over federal income tax, generally prior to the time at which formal tax assessments are made by the Internal Revenue Service. The…

Shamsey Oloko January 29, 2016 Civil Liabilities, Civil Penalties, Delinquent Taxes, Offer-In-Compromise, Representation, Settlement

WHAT IS AN OFFER-IN-COMPROMISE?

Taxpayers that are unable to pay their tax bill have several options. All is not lost. Taxpayers who can’t pay their tax liability or who create a financial hardship by paying this liability may take advantage of a federal tax…