Blogs

 IMCGRUP has an article on the "Differences Between Chapter 7 and Chapter 13 Bankruptcy. The article can be found at 
https://www.imcgrupo.com/difference-between-chapter-7-and-chapter-13-bankruptcy/
Jim Shenwick, Esq.  [email protected]  917 363 3391 
"We help people & monies with too much debt". 
Please click the link to schedule a telephone call with me.
 https://calendly.com/james-shenwick/15min

Are You Ten Years Out of School and Still Struggling with Student Loans? Recent student loan policy changes by the Biden Administration can help people still struggling with student loans. These are new rules making it possible to discharge your student loans in bankruptcy.  In bankruptcy, you can clear your federal student loans if you […]
The post Ten Years Out of School and Still Struggling with Student Loans? by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.

PEOPLE MAY WANT TO FILE A TAX RETURN – EVEN IF THEY ARE NOT REQUIRED TO DO SO
Posting from the IRS
IRS Tax Tip 2023-27, March 2, 2023
Some people choose not to file a tax return because they aren’t legally required to file, but they could be missing out on refundable tax credits or an income tax refund. This could apply to someone if they:

• Have had federal income tax withheld from their pay.
• Made estimated tax payments.
• Qualify to claim refundable tax credits.

Here are a few of the valuable tax credits eligible people can claim on a tax return

• Earned Income Tax Credit – The EITC helps workers who earned $59,187 or less when they file their tax return. Taxpayers can use the EITC Assistant on IRS.gov to check their eligibility.

• Child Tax Credit – Taxpayers can claim the Child Tax Credit if they have a qualifying child under the age of 18 and meet other qualifications.

• Credit for Other Dependents – Taxpayers who do not qualify for the child tax credit may qualify for the Credit for Other Dependents. This includes people who have:
  • Dependent children who are age 18 or older at the end of 2022.
  • Parents or other qualifying individuals they support.

• Education credits – Education expenses can add up fast, but there are two higher education credits to help. The American Opportunity Tax Credit is for qualified education expenses for the first four years of higher education. The Lifetime Learning Credit is for qualified tuition and related expenses paid for eligible students enrolled in an eligible educational institution.

The Interactive Tax Assistant can help people when they’re deciding whether to file
The Interactive Tax Assistant is a tool that provides answers to many common tax law questions based on an individual’s specific circumstances. It can help someone decide whether they should file a tax return and if they’re eligible for many common tax credits.
The tool keeps the taxpayer anonymous. The taxpayer’s information isn’t stored and is used by the assistant only to answer the taxpayer’s questions. The assistant will not share, store or use information in any other way, nor can it identify the individual using it. The system discards the information the user provides when they exit a topic.
Taxpayers can e-file to get their refunds faster
The fastest way people can get a refund is to e-file and select direct deposit. The IRS issues more than 9 out of 10 refunds for e-filed returns in fewer than 21 days.

MUSINGS BY DIANE:
This is not a scam. 
The IRS Interactive Tax Assistance can help you decide whether or not to file a return.  Why not take advantage of this tool in order to see if there are available funds. 
Diane L. Drain

• Payday lender or loan shark: is there really a difference?
• Abuses in Online Payday Lending are Widespread
• Zombie Debt: collectors tricking consumers
• Is it possible to buy a home while in a Chapter 13 bankruptcy?
• Bankruptcy Articles and Resources

The post File Tax Returns – Even if Not Required to do so appeared first on Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer.

Why I’m a Member of the National Association of Consumer Advocates I’m a bankruptcy lawyer.  When I first started I said “All I do is Bankruptcy.”  What I found out is that people in financial trouble are magnates for illegal stuff being done to them.  A lot of that is fair credit reporting violations and […]
The post I Just Renewed My Membership in Consumer Advocates by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.