High professionalism IRS tax attorney in Houston in 2021

Chapter 7 bankruptcy lawsuits by Dove law firm Houston, Texas 2021? Once you have been served, that triggers the deadline to file an answer, a written response to the lawsuit that gets filed with the court. If the lawsuit is filed in a justice of the peace court, the answer deadline is calculated by adding ten days to the day you were served and going to the next Monday after those ten days. If the lawsuit was filed in county court or district court, the answer deadline is calculated by adding twenty days to the day you were served and going to the next Monday after those twenty days. Failing to timely file an answer may result in a loss of possible defenses in the lawsuit and/or a judgment being entered against you.

There is a time limit for the IRS to assess or collect back taxes. Once that time limit expires, the IRS can no longer take collection actions. A Houston tax attorney can analyze your tax information to determine if any of the tax years for which you owe are at or near the statute of limitations. Generally speaking, the IRS has 10 years from the date a tax is assessed to collect on the back taxes (there are certain occurrences which can extend the 10-year deadline).

If you have questions about how a Chapter 7 bankruptcy or a Chapter 13 bankruptcy in Houston (or the surrounding areas) may be able to help you or your business, please call today to schedule a free consultation. Even if bankruptcy is not right for you and your situation, I may be able to help you through the process of debt settlement, if needed. My job as a lawyer is to educate you about all of your options when seeking a financial fresh start so that you can make an informed decision that is right for you. I believe that customer help should be the number one priority in any business, but it is also very important important in the bankruptcy and debt settlement field. When people are struggling financially they may be stressed, nervous and scared about their situation. The prompt returning of telephone calls and e-mails is important so as to help alleviate anxiety. You can also take comfort in knowing that you will be speaking with an attorney every time you call or come in for an appointment. Dove Law Firm, PLLC is a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code as well as resolve other debt issues. Find extra information at view dove law firm.

First, you should find a bankruptcy attorney who can provide you with a free evaluation and estimate to file. The cost to file Chapter 13 bankruptcy consists of filing fees and fees charged by a bankruptcy attorney. Applicants need to pay a $235 filing fee to the bankruptcy court, as well as a $75 miscellaneous administrative fee. A list of creditors and the amount of their claims, Disclosure of the amount and sources of the debtor’s income, A list of the debtor’s property, as well as an accounting of all contracts and leases in the debtor’s name, A breakdown of the debtor’s monthly living expenses, Tax information, including a copy of the debtor’s most recent federal tax return and a statement of any unpaid taxes.

Meet With Your Tax Advisor: November is a good month to meet with a tax advisor, Powell says. They have finished their October tax filings and may have time in their schedule before the busy tax season starts after the first of the year. “If you sit down and do some math between now and the end of the year, you can make sure you are in a favorable tax bracket,” Barlin says. An advisor can help pinpoint strategies to reduce taxable income through retirement contributions or itemized deductions. That, in turn, may be key to ensuring households remain eligible for some income-based tax incentives such as student loan interest deductions. If you don’t regularly use a tax professional, Barlin says running numbers through tax software can be just as beneficial.

State sales taxes: This write-off makes sense primarily for those who live in states that do not impose an income tax. You must choose between deducting state and local income taxes, or state and local sales taxes. For most citizens of income-tax-states, the income tax deduction usually is a better deal. IRS has tables for residents of states with sales taxes showing how much they can deduct. But the tables aren’t the last word. If you purchased a vehicle, boat or airplane, you get to add the state sales tax you paid to the amount shown in IRS tables for your state, to the extent the sales tax rate you paid doesn’t exceed the state’s general sales tax rate. The same goes for home building materials you purchased. These items are easy to overlook. The IRS even has a calculator to help you figure out the deduction, which varies by your state and income level. Beginning in 2018, your itemized deduction for state and local taxes is limited to $10,000 per year. You still will only be allowed to deduct either state and local sales tax or state and local income taxes, but not both.

The trustee’s job is to review your finances and assets and oversee your Chapter 7 bankruptcy. They will sell certain property the bankruptcy won’t let you keep (nonexempt property) and use the proceeds to repay your creditors. The trustee will also arrange and run a meeting between you and your creditors-called a creditor meeting-where you’ll go to a courthouse and answer questions about your filing. Discover extra information at https://dovebankruptcylaw.com/.