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Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Recent Posts in Tax - Debt Garnishments

  • Getting Rid of Back Taxes in Bankruptcy and What You Should Know

    Posted By Allmand Law Firm, PLLC || 10-Mar-2014

    Bankruptcy can help you eliminate back income taxes depending on your situation and qualifications. You can file Chapter 7 bankruptcy to discharge tax debt that qualifies under the bankruptcy code. If your debt does not meet these qualifications, you may consider Chapter 13 bankruptcy to help you repay what you owe based on your income ability. While it is important to review your situation with a ...
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  • Using Bankruptcy to Stop or Prevent Wage Garnishment

    Posted By Allmand Law Firm, PLLC || 5-Mar-2014

    The state of Texas, along with a few other states, may not allow creditors to garnish wages to satisfy debts, except for special circumstances such as spousal/child support, student loans and federal taxes. A wage garnishment is when a creditor receives permission from the court to withhold payment from paycheck earnings and have them forwarded to the creditor instead. Yet, if garnishment of your ...
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  • Bankruptcy and Tax Debt: What You Need to Know

    Posted By Allmand Law Firm, PLLC || 5-Nov-2013

    There are various advertisements on television and radio that encourage consumers to utilize special services aimed at getting rid of tax debt through bankruptcy. Keep in mind the process may not be as easy as they make it sound. Some tax debts may not qualify for elimination in bankruptcy ( Chapter 7 ), but they may qualify for inclusion of a repayment plan ( Chapter 13 ) to help you manage them ...
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  • Getting Money Back From Garnishment After Bankruptcy

    Posted By admin || 8-Feb-2013

    Garnishments are a legal actions enforced by the court to allow creditors to collect on outstanding debt. The most common is wage garnishment when funds are deducted from paycheck earnings. Bankruptcy may stop pending and active garnishment activity against you. When bankruptcy is filed an action called the automatic stay goes into effect. The stay prevents further collection attempts from ...
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  • Tax Refund Averages

    Posted By admin || 3-Oct-2012

    Although the season of taxes has passed, it is always very interesting to hear about the figures and averages in relation to tax time. According to the Internal Revenue Service, for those who received a refund this year that refund averaged to about $3,000 per person. With about 52 million Americans who filed their taxes, over 45 million of them collected some sort of a refund, according to the ...
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  • Wage Garnishment: Can My Wages be Garnished if I Receive Disability?

    Posted By admin || 30-Jul-2012

    Credit card companies may file a lawsuit to enforce legal ways to collect from debtors when accounts go unpaid. If the credit card company itself doesn't pursue collection, then a collection agency may decide to pursue if they purchased the debt from the original creditor. Unless you provide evidence that the debt has been paid or is not yours, creditors are likely to win a judgment against you. ...
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  • Bankruptcy and Wage Garnishment

    Posted By admin || 15-Jun-2012

    Wage garnishment is an action pursued by creditors to help satisfy outstanding debt. The action allows them to take paycheck earnings and have them automatically forwarded to creditors. Bankruptcy may stop the garnishing process and even collect wages that have been garnished under certain circumstances. When bankruptcy is filed the automatic stay goes into effect which stops creditors from ...
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  • What You Need to Know about IRS Wage Garnishment

    Posted By admin || 7-May-2012

    What is an IRS Wage Garnishment? IRS wage garnishment, also known as a wage levy, is a forced form of collection imposed by the Internal Revenue Service (IRS). This action takes place when a taxpayer fails to pay taxes. The process allows the IRS to withhold a certain percentage of paycheck earnings to put toward outstanding taxes. The amount taken during a wage levy may be more than what most ...
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  • Can I Stop IRS Wage Garnishment After it has Started?

    Posted By admin || 12-Jan-2012

    Stopping Wage Garnishments Stopping a garnishment enforced by the Internal Revenue Service (IRS) can be done by utilizing several options. The main objective is to settle what you owe in taxes by working with the IRS or a tax expert to determine the best solution for your situation. You can either pay what you owe in full or apply for a payment plan that puts you in good standing so that the IRS ...
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  • Understanding Wage Assignments In Bankruptcy

    Posted By admin || 29-Dec-2011

    Wage Assignments and Bankruptcy Increasing collections costs is prompting some creditors to turn to voluntary wage assignments. A wage assignment is basically an agreement that allows the creditor to deduct from a debtor's wages any amount owed to them. This is most often used by payday loan lenders. Borrowers sign a bunch of paperwork, which includes a wage assignment signing over access to their ...
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  • Asset Garnishments And Joint Bank Accounts

    Posted By admin || 7-Nov-2010

    After debt becomes extremely delinquent, the creditor often chooses to sue the borrower and win the right to garnish their wages and/or bank account. But what happens when a debtor has a joint account with someone who is not responsible for the debt? Well, since the debtor's name is on the account the creditors have the legal right to seize the money in the bank account even if the money ...
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  • How To Prevent Bank Levies, Wage Garnishments And Other Seizures After Filing Bankruptcy?

    Posted By admin || 12-Oct-2010

    Avoiding harsh collections actions such as bank levies, wage garnishments and other asset seizures is one of the reasons that many debtors file bankruptcy. But one of the problems with this motivation is that the bankruptcy is usually filed right on the eve of such seizures, creating a situation where seizures may happen after the bankruptcy filing because all parties have not been notified in ...
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  • Three Steps To Wage Garnishment

    Posted By admin || 10-Oct-2010

    Steps To Wage Garnishment When a debtor falls behind on their credit card bills, aggressive collections actions such as wage garnishment don't happen overnight. The road to wage garnishment and asset seizures often takes months or even years. Below are the steps a creditor takes before they garnish your wages. The creditor will begin calling you at home or work when you are 60 - 90 days delinquent ...
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  • How To Battle Non Wage Garnishments

    Posted By admin || 30-Aug-2010

    If a debtor has become delinquent on their debt payments for long enough, creditors will eventually file a lawsuit against them and may win a judgment. With a judgment in place the creditor can garnish wages and get the right to use non wage garnishments which typically means they will seize bank accounts. If a creditor serves the debtor's bank a non-wage garnishment affidavit, the bank is ...
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  • Four Steps To Fight Wage Garnishments

    Posted By admin || 20-Aug-2010

    Can You Fight Wage Garnishments? Have you ever asked, can you fight wage garnishment ? If you're significantly delinquent on your debts then you're probably at risk for a wage garnishment. Creditors are becoming more aggressive when it comes to collecting on even small amounts of debts and wage garnishment is just one of their many collection tools. Here's what you need to know: Don't ignore the ...
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  • Getting Rid Of Tax Liens After Bankruptcy

    Posted By admin || 9-Aug-2010

    Tax Liens After Bankruptcy Tax liens and other types of liens do remain after a bankruptcy discharge; however, they do not attach to any property acquired after your bankruptcy discharge. Getting Rid of Your Tax Liens After Bankruptcy Also, you may be able to have a tax lien release or removed if the following applies: The tax lien was filed too soon or the filing of the tax lien failed to follow ...
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  • Student Loans and Wage Garnishments

    Posted By admin || 21-Jul-2010

    Texas law allows student loan lenders and government agencies to issue wage garnishments against debtors who have defaulted on their debts. Below are a few facts you should know about student loan wage garnishments: The law requires that a student loan lender send the debtor a written notice to their last known address at least 30 days before they issue a wage garnishment. The law requires that ...
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  • Tax Debts And Chapter 13 Bankruptcy

    Posted By admin || 18-Jun-2010

    Debtors who file Chapter 13 bankruptcy will repay their debts partially or in full over a course of three to five years. Depending on their circumstances, they may be able to partially discharge their federal or state taxes. Below are a few rules debtors in Chapter 13 bankruptcy should know about tax debt: Tax debts generally are considered priority debts which must be paid 100% but there are ...
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  • Can I Discharge Taxes In Bankruptcy?

    Posted By admin || 13-Jun-2010

    There are certain circumstances where a debtor may be able to discharge their federal or state taxes partially or in full during. But taxes are usually treated as a priority debt during bankruptcy, what this means is that tax debts will be paid before certain other debts. For example, if a debtor owed federal taxes, the bankruptcy court would repay those federal taxes before the debtor's mortgage ...
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  • Preventing Bank Levies After Filing Bankruptcy

    Posted By admin || 9-Jun-2010

    When debtors file for bankruptcy without the help of an attorney they often run into troubles such as post-bankruptcy filing bank levies. One of the mistakes that pro se bankruptcy filers make when submitting their bankruptcy paperwork is forgetting to notify all of the parties involved in collecting their debt payments. For example, before filing for bankruptcy, many debtors have active lawsuits ...
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  • Three Reasons Why Waiting For Debts To Disappear Is A Bad Financial Strategy

    Posted By admin || 1-Jun-2010

    It can happen to the best of us-we lose a job, fall on hard times and our bills go unpaid. But many of us opt to simply ignore our debts instead of coming up with a plan to either repay them or make them go away legally. Many of us mistakenly believe that debts will just go away after a lot of time; but this proves a bad strategy especially during a recession. Here's why: Creditors never forget. ...
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  • Court Rules Tax Refund Partial Belongs To Bankruptcy Estate

    Posted By admin || 31-May-2010

    In the Chapter 7 bankruptcy case of Krahn, Joseph A. and Kerri K.; In re, the bankruptcy court sustained a bankruptcy trustee's ruling that the debtors turnover $3,952 from their federal income tax refund. The details of the bankruptcy case: The debtors filed for Chapter 7 relief on Aug. 29, 2008. Their 2008 federal tax return showed no tax liability, but $6,916 in refundable credits including ...
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  • States Can File Objection To Bankruptcy Plan On Behalf Of Domestic Support Claimant

    Posted By admin || 17-May-2010

    In the Chapter 13 bankruptcy case of Trupp, Douglas; In re, the bankruptcy court partially sustained an objection to the confirmation of a debtor's Chapter 13 bankruptcy plan. The details of the bankruptcy case: In the debtor's Chapter 13 case, the Arizona Department of Economic Security filed a priority claim in the amount of $106,607 for a prepetition child support arrear­age. The claim listed ...
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  • Three Reasons Why You Should Not Pay Taxes With A Credit Card

    Posted By admin || 11-May-2010

    It has become a lot easier for taxpayers to pay their taxes using a credit card; but doing so may not be a good idea. Below are three reasons why a debtor should not pay their taxes with a credit card. You will end up paying more. Yes paying your taxes late will result in interest and penalty fees; but that won't be nearly as much as the interest you will pay on a credit card. Compared to credit ...
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  • Three Tax Myths That Could Land You In Trouble With The IRS

    Posted By admin || 4-May-2010

    Around tax time a lot of myths get thrown about online and offline. If you want to stay out of trouble with the IRS and get your tax situation done correctly take a look at some of the most common but nonetheless untrue tax myths out there: Money earned online is tax-free. Whether you earn money online or offline, all revenue is taxable by the IRS and must be reported to the IRS on your income tax ...
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  • Facts You Need To Know About Taxes And Bankruptcy

    Posted By admin || 4-Feb-2010

    It's tax season again and many of you may be considering bankruptcy. But before you file your taxes and spend your refund, there are few things you need to know about how taxes can impact your bankruptcy: If you receive a tax refund after you file bankruptcy, that refund may become part of the bankruptcy estate. What that means is that the bankruptcy trustee can use your tax refund to repay ...
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  • Two Sources For Free Tax Assistance

    Posted By admin || 4-Feb-2010

    Are you delaying filing your taxes because of a lack of money? Well there are a few free resources you can use to file your taxes for free. AARP Tax-Aide - Despite what the name may suggest, this program is not just for senior citizens. AARP Tax-Aide is available for all taxpayers of all ages and income levels. Local volunteers who are trained in tax preparation and certified by the IRS will file ...
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  • IRS Announces New Tax Preparer Regulations

    Posted By admin || 26-Jan-2010

    You won't see any changes this tax year, but the IRS is planning to require tax preparers to pass a test and register with the government so they can more effectively oversee a largely unregulated industry used by many taxpayers. [Doug] Shulman [IRS Tax Commissioner] said he hopes to have all paid tax preparers registered by the 2011 filing season. Preparers will be given about three years to meet ...
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  • Stimulus Payments May Bite Taxpayers In April

    Posted By admin || 2-Dec-2009

    Stimulus payments may equal a bigger tax bill for millions of Americans. More than 15 million taxpayers may owe the government $250 or more because of how the IRS organized last spring's tax breaks which were designed to help lift the economy out of the recession. Due to IRS errors everyone from married couples to struggling students may be forced to fork over up to $400 to Uncle Sam. Who Should ...
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  • The IRS is More Accommodating Thanks to Legislation of a Few Years Back

    Posted By admin || 27-Oct-2009

    Congress was getting bombarded with people saying that the IRS was treating them terribly, so they did something about it. Even though the IRS still has a bad reputation with a lot of people, it is still considerably much easier to deal with than it was just a few years ago. The IRS was actually forced to become easier to deal with through legislation. In the book, Personal Bankruptcy For Dummies, ...
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  • Getting Relief from Tax-Debt Garnishments

    Posted By admin || 7-Sep-2009

    Most people have at least passing knowledge of wage garnishment --the process of deducting money from an employee's monetary compensation (including salary) as a result of a court order. Fortunately for those who find themselves in the unfortunate position of having their wages garnished, these payments are limited by federal law to 25 percent of the employee's disposable income. Unfortunately, ...
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  • Bankruptcy Court Splits Joint Income Tax Refund

    Posted By admin || 27-Aug-2009

    In the Chapter 13 bankruptcy case of (Halverson, Michael; In re), the bankruptcy court ruled that the Chapter 13 debtor's bankruptcy estate was entitled to half of the joint income tax refunds received by the debtor and his nonfiling wife. The details of the bankruptcy case: "The Massachusetts Department of Revenue (MDOR) filed a proof of claim in the amount of $64,172 including $14,936 for joint ...
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  • Tax Refunds Must Be Disclosed in Bankruptcy Filing Even if It's an Estimate

    Posted By admin || 17-Aug-2009

    In the bankruptcy case (Laroche, Wayne W. and April J.; In re), the bankruptcy court ruled that debtors filing bankruptcy must disclose their tax refund even if it is only an estimate based on previous years. The details of the bankruptcy case: In the Chapter 7 bankruptcy case the debtors failed to disclose their estimated 2008 tax refunds during the first meeting of the creditors on December 15, ...
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  • Bankruptcy Trustee Forced to Return Tax Refund

    Posted By admin || 7-Aug-2009

    In the bankruptcy case of Martin, Renee M.; In re, 19 CBN 870 (Bankr. N.D. Tex. 2009) the bankruptcy court ruled that the bankruptcy trustee must return the balance of a joint tax refund to the non-filing spouse. The details of the bankruptcy case: "The debtor filed for Chapter 13 relief on Dec. 31, 2008. The debtor's husband did not join her in filing for bankruptcy. The debtor and her husband ...
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  • IRS May Require Tax Preparers To Get Licensed

    Posted By admin || 5-Jun-2009

    According to an article in the Star-Telegram, the IRS is considering new rules that require tax preparers to be licensed in hopes of reducing fraud and tax preparation errors. The article quoted IRS Commissioner Doug Shulman: Shulman said he wants better leverage to make sure tax preparers act ethically, not only to improve enforcement, but to ensure that taxpayers get quality help in preparing ...
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  • Tax Liens And Bankruptcy

    Posted By admin || 22-May-2009

    Debtors with delinquent tax debt often worry about IRS tax liens during bankruptcy. Here are a few facts about tax liens and bankruptcy: 1. Tax liens survive the bankruptcy discharge. 2. The tax liens that survive the bankruptcy discharge only apply to pre-bankruptcy property. For example, if a debtor filing for bankruptcy has a tax lien on an old car that's worth $1500, and the debtor sells the ...
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  • Dallas-Fort Worth Property Values (And Taxes) Plummet

    Posted By admin || 29-Apr-2009

    According to an article in the Dallas Morning News, property tax revenues are set to plummet for 2009 as home values tank. The article said: About 92 percent of all residential properties will either fall in value or remain the same, said Ken Nolan, the county's chief appraiser. Foreclosures, a decline in building permits and rising office vacancy rates have conspired to send property values and ...
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  • Late Income Tax Filers Beware Of Unscrupulous Preparers

    Posted By admin || 16-Apr-2009

    It's April 15th and many taxpayers still haven't filed their income taxes, are you one of them? If so, you may be tempted to rush around to any tax preparer to file at the last minute or even a few days late, but beware of unscrupulous tax preparers who may file false information on your return. An article in the Dallas Morning News, offers a story that should serve as a warning when choosing your ...
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  • Social Security And Taxes

    Posted By admin || 10-Apr-2009

    Many senior citizens preparing for retirement may not realize that their Social Security income could be taxable under certain conditions. When determining whether Social Security income is taxable the government uses a formula that calculates the taxable amount. Basically when a senior citizen's income from other sources, such as a 401K or investment property plus half of their Social Security ...
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  • Still Time To Get Your Tax Refund From 2005

    Posted By admin || 11-Mar-2009

    If you haven't filed your 2005 tax return yet, you may be missing out on a refund. According to an article in the Dallas Morning News, there is $105.2 million owed to 103,000 Texans who failed to file a tax return in 2005. The average amount owed to Texans is more than $600 per person, of course some Texan's tax refunds may be larger or smaller. Texans who want to claim their tax refunds can file ...
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  • Many Jobless Americans Facing Heavy Tax Burden

    Posted By admin || 9-Mar-2009

    According to an article in the Star-Telegram, many unemployed Americans are facing unexpected tax bills because they don't fully realize the amount of taxes they will owe on their unemployment benefits. The article said: At a time when the newly laid-off are swelling unemployment rolls to record numbers, the painful surprise for many is that jobless benefits are taxed like income. That leaves many ...
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  • Sagging Tax Revenues Shake Up Dallas-Fort Worth

    Posted By admin || 23-Feb-2009

    According to an article in the Dallas Morning News, slumping sales-tax revenues are forcing Dallas-Fort Worth municipal officials to monitor their budgets and prepare for possible cuts. The article said: Dallas is preparing for a projected budget deficit of as much as $100 million for next fiscal year... The deficit projection in Dallas is based in part on declining sales-tax revenue and a ...
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  • Stimulus Package Passed By Legislators

    Posted By admin || 16-Feb-2009

    According to an article in the Star-Telegram, legislators passed the $790 billion stimulus package last week which includes: A $400 tax credit for single workers and an $800 tax credit for couples. A $1000 child tax credit which will be extended to some low-income families who don't make enough money to pay income taxes and poor families with 3 or more children will receive an "expanded Earned ...
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  • Free Tax Preparation For Dallas-Fort Worth Residents

    Posted By admin || 12-Feb-2009

    Having trouble preparing your taxes, we have good news. Two Dallas area Catholic schools will host free income tax preparation events in February for families with an income of $34,000 or less. The event, which is sponsored by The Notre Dame Club of Dallas, will have qualified volunteers on hand to help families understand the forms and advise them on available tax credits. The events will take ...
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  • Struggling Real Estate Developers May Get Power To Tax You

    Posted By admin || 12-Feb-2009

    Along the lines of the strange and perhaps outrageous, there's an article in the Dallas Morning News reporting that the Dallas City Council is considering (today 2/11/09) giving real estate developers the power to tax Dallas-Fort Worth residents. That's not a misprint. The article said: The plan to create special taxing areas, known as municipal management districts or MMDs,... Under the plan ...
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  • Uncle Sam Giving Taxpayers A Break...Well Maybe...

    Posted By admin || 10-Feb-2009

    According to an article in the Dallas Morning News, the IRS is softening some it's strategies for handling delinquent taxpayers and those who simply can't pay. The article said: "We need to ensure that we balance our responsibility to enforce the law with the economic realities facing many American citizens today," said IRS Commissioner Doug Shulman. "We want to go the extra mile to help ...
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  • No More Taxes For Seniors? Yes If President Obama Has His Way

    Posted By admin || 26-Jan-2009

    Since we're living in an age of "internet government" I decided to take another virtual trip to the White House web page and found another interesting tidbit of information about reforms supported by the new President Obama administration. According to the updated White House web site President Obama would like to: Eliminate Income Taxes for Seniors Making Less Than $50,000: Obama and Biden will ...
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  • IRS Offers Advice To Cash Strapped Americans

    Posted By admin || 15-Jan-2009

    Taxes, another debt that many Americans are struggling with is often going unpaid as taxpayers struggle with foreclosure and other financial crises. But the IRS offers "guidance" on the tax burdens of economic hardship in an article in the Star-Telegram. Let's take a look at a few tips: What if I lose my job? Severance pay and unemployment compensation are taxable. Payments for any accumulated ...
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  • My Money Was Seized By A Creditor, Can Bankruptcy Get It Back?

    Posted By admin || 18-Dec-2008

    This is another case of waiting until the last moment to file a bankruptcy which was inevitable. Many debtors who get sued by their creditors, never respond to the summons, receive a default judgment and within a few days, weeks or even months, their bank account is emptied or their wages are garnished. That's when they come to file bankruptcy and want to know if they can get their money back. ...
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  • Was Your Home Foreclosed? You May Get A Whooping Tax Bill!

    Posted By admin || 4-Dec-2008

    The Mortgage Forgiveness Debt Relief Act of 2007 was suppose to prevent homeowners who experienced foreclosure from receiving a huge tax bill on forgiven debt caused by the foreclosure. But to many homeowners' surprise the law doesn't protect all homeowners who have lost their property to foreclosure. Under the Mortgage Forgiveness Debt Relief Act, the tax liability incurred from the foreclosure ...
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  • Stop And Think Before You Take That Standard Deduction

    Posted By admin || 2-Dec-2008

    Millions of Americans are losing hundreds of dollars a every tax year by not taking a closer look at what they can deduct from their taxes. According to Money Central the average American taxpayer is giving Uncle Sam an estimated extra $438 a year when filing taxes. With today's economy $438 is a lot of money going to taxes voluntarily. But because many American taxpayers are Do-It-Yourselfers ...
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  • Can Bankruptcy Hurt Your Immigration Status?

    Posted By admin || 27-Oct-2008

    Many legal residents hoping to secure a green card or citizenship face many financial difficulties, but are apprehensive about filing for bankruptcy because they fear it may hurt their immigration process. The good news is that there is no immigration law, statute, or regulation that states that if you file for bankruptcy you cannot become a naturalized citizen or apply for a green card. Not only ...
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