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If I can’t pay my income taxes, should I still file my return? The penalty for an unfiled return is much greater than the penalty for not paying. If you fail to file your return, the IRS charges a monthly penalty that equals 5% of your balance. The penalty starts on the date following the date that your tax return
President Biden proposed a plan to erase millions of dollars in student loan debt. Millions of student loan borrowers are currently waiting for the approval of student loan forgiveness. President Joe Biden announced that he intended to forgive up to $20,000 in student loan debt per borrower under an income threshold. Unfortunately, court battles have prevented the Department of Education’s
Although it was the plan to forgive student debt, many people still have a balance due. With the cost of living on the rise, many may find it hard to find the extra income to pay back their student loan. The expenses of daily living, such as mortgage or rent payments, utility bills, and auto loans may take priority before
Many of us have heard about tax evasion and tax fraud. What do these terms really mean? Is there a difference between tax evasion and tax fraud? In short, the answer is YES. Tax evasion and tax fraud may appear to be problems only faced by master con artists and embezzling white-collar criminals, but that is not the case. Filing
Bankruptcy laws exist for those whose debt has become unmanageable. Whether it’s bad fortune or financial irresponsibility, filing for bankruptcy does provide the opportunity to alleviate the debt. In the United States system, the two most common types of bankruptcy are Chapter 7 and Chapter 13. In Chapter 7 bankruptcy debtors can erase debts with an agreed-on lump-sum payment, but
Do you feel as though the weight of your debt is causing havoc in your life? Are you looking for debt relief as a solution? Do you live in the Magnolia state and call Mississippi home? Our Mississippi debt relief program is the ideal option for you if your answer is yes to these questions. The debt market is flooded
