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Earmark Tax Payments

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Did you know that a taxpayer making a voluntary payment to the IRS can designate to which liability it is credited? The doctrine is called earmarking and it’s really useful when a prospective debtor owes taxes for both priority and non priority years.  Absent instructions from the payor, the IRS applies payment to the oldest […]

Filed Under: Bankruptcy Practice Tagged With: bankruptcy planning, unpaid taxes

Bankruptcy Exemptions: 10 Ways to Deal with Excess Cash

By Cathy Moran, Esq. Filed Under: Exemptions, Start Here

bankruptcy exemptions

Bankruptcy lawyers occasionally are confronted with the client with more cash, or other marketable assets, worth more than the available exemptions to protect them. And state exemption systems often protect the darndest things, like a mule and a plow.  A milk cow.  The family bible. Those aren’t the things most of us are striving to […]

Filed Under: Exemptions, Start Here Tagged With: assets, bankruptcy exemptions, bankruptcy planning, bankruptcy practice, bankruptcy skills, filing bankruptcy

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