fbpx

Our Financial Situation is So Bad I Don’t Know What to Do. – Kay

Question: Dear Steve, DEBT- Husband went from 280,000 to 100,000 income and we have an adult daughter that has drained our savings and retirement with substance abuse. Behind on everything- Mortgage 11 months just worked out payment structure ok there- fed taxes 117,000 had installments until this year waiting on verdict. 180,000 in student debt …

Read more

We Owe the IRS Back Taxes and Afraid They Will Put a Lien On Our House. – Kate

“Dear Steve, I’m paying off the IRS for 2008 tax year (total is now up to $37k), and the interest keeps adding to the total owed. I owed for 2010 and paid that amount, but now owe $10k for 2011, due to too little withheld from my and my husband’s taxes. The initial job loss …

Read more

My Parents Are In Serious Debt. Should They Save for Retirement? – Elizabeth

My dad lost a job many years ago, and was depressed and didn’t file their income taxes for 10 years. They owe 77k to the government, and they put in an offer in compromise with the IRS, but were told that they should be able to pay they full amount. At this point they have …

Read more

Can I Get Rid of Back Taxes in My Chapter 7 Bankruptcy? – Jacquelyn

“Dear Jim, I am converting from chapter 13 to a chapter 7 and I have owed federal taxes in it they will work with me on it won’t they? Will they work with me to pay back my taxes? Jacquelyn” Dear Jacquelyn, Thanks for the question. Although bankruptcy is filed in federal US Bankruptcy Court, …

Read more

I Did Not File My Taxes and Now I Have an Outstanding Back Balance. I’m So Depressed. – Dan

“Dear Jim, I have aquired a huge mess by not filing my taxes and need advise. I am very depressed about my situation. I have an outstanding balance for back pay child support and now I have back taxes I owe. I have a wife and a six year old beautiful child. I am a …

Read more