The 341 meeting is your meeting of creditors. 341 comes from the bankruptcy code that mandates the US Trustee “shall convene and preside at a meeting of creditors.” 11 U.S.C. 341. In Phoenix, there is […]
The controversy involving the IRS continues to stir with the most recent revelation being the exorbitant amounts of money spent by the IRS on conferences, particularly for its self-employed and small business units. It […]
A typical question during a bankruptcy consultation meeting is, “When I am facing financial hardships, how can I pay for my bankruptcy?” Before filing for bankruptcy, you must be very careful how you spend […]
We’re often asked about record keeping requirements. So here’s a general overview of what’s required, and for how long. Then we’ll make some recommendations about how to best comply. To establish that expenditures occurred, […]
The IRS has an annual current budget of about $12 Billion but has been tasked with reducing the budget by about $600 million in 2013. In addition, lots of tax changes and the IRS’s […]
The IRS reports that it sends millions of letters and notices each year to taxpayers for a variety of reasons. While rarely welcome, there are a few things to keep in mind if one […]
In an attempt to acknowledge the significant challenges taxpayers are facing as a result of the severe economic crisis, the IRS introduced the “Fresh Start” program. The program is supposed to make it easier […]
If you’ve already filed a tax return and need to make corrections, you can file an amendment using Form 1040X if it’s a personal return or refile the return and select “amendment” if it’s […]