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5 IRS Payment Facts

Posted by Michael Raichelson | Jun 26, 2018 | 0 Comments

When you owe money to the IRS, it can be tough to gain control of your finances and remain calm. Your initial reactions may be worry, fear, or stress, but the best thing you can do is take a deep breath and understand that you do have options. In this week's blog, Raichelson Law, P.C. reveals 5 I...

What to Do When Your Spouse is in Tax Trouble

Posted by Michael Raichelson | Jun 05, 2018 | 0 Comments

If your spouse has not filed a tax return recently or paid their taxes in the last several years, then you may feel unsure of where to turn for relief. It can be stressful to deal with the financial decisions your spouse makes, especially because they can directly affect you. Raichelson Law, P.C....

How to Set Up an Installment Agreement with the IRS

Posted by Michael Raichelson | May 15, 2018 | 0 Comments

If you cannot afford to pay your taxes in full, then there are options available to you to avoid tax debt or tax controversy. Raichelson Law, P.C. discusses how you can set up an installment agreement with the IRS and what a payment plan entails for you as an individual. What is an installment ...

How to Appeal an IRS Decision

Posted by Michael Raichelson | May 01, 2018 | 0 Comments

Did the IRS make a change to your tax refund that you disagree with? During tax season, the IRS changes a myriad of checks every year for various reasons. Whether it is simple math error or a mistake you made when filing, you should not worry about the change because there are ways to resolve it....

I Owe More in Taxes Than I Can Afford…Now What?

Posted by Michael Raichelson | Apr 17, 2018 | 0 Comments

With tax season barely behind us, it is time to start asking yourself some questions as a taxpayer. What will you do with your tax return? Do you have enough money to pay what you owe? If you've found yourself burdened by tax debt and need some guidance, Raichelson Law, P.C. has some tips to hel...

What You Need to Know About an Offer in Compromise

Posted by Michael Raichelson | Apr 03, 2018 | 0 Comments

When you are faced with tax controversy or tax debt, you may not know where to turn for relief. Fortunately, there are many options available to you when you cannot afford to pay the IRS. One of these options is called an offer in compromise (OIC). Raichelson Law, P.C. is going to review what yo...

How to Deal With Being Audited by the IRS

Posted by Michael Raichelson | Mar 20, 2018 | 0 Comments

You know it could occur anytime and then it happens: you receive notice that you're being audited by the IRS. The first thing to do is take a deep breath and know that you can prepare for the audit. It's something they do. The IRS annually reviews certain factors when determining who to audit. I...

What is Tax Resolution and When is it Necessary?

Posted by Michael Raichelson | Mar 06, 2018 | 0 Comments

A tax resolution is something you might need. It's a service that could require you to protect yourself when using it. Tax resolution is there to help you when needed, but it is crucial to make sure your tax resolution specialist is someone you can trust. Know why you need it There's a lot of bu...

Relieve Your Stress About Bankruptcy

Posted by Michael Raichelson | Jan 03, 2018 | 0 Comments

Close-up of a bankruptcy petition Next to debt, filing for bankruptcy can cause equal anxiety and fear. Even so, the idea that you have a possible solution gives you an amount of hope. First things first Like a medical diagnosis, another opinion can help. Talking with an attorney can relieve som...

Detroit Files Largest Municipal Bankruptcy Ever!

Posted by Michael Raichelson | Jul 31, 2013 | 0 Comments

After the state of Michigan appointed an emergency financial manager, Kevyn Orr, to resolve the financial crisis of the city of Detroit without filing bankruptcy, Governor Rick Snyder approved the filing of the Chapter 9 bankruptcy petition for the city of Detroit on July 18. As of now, Detroit h...

Dolce and Gabbana Sentenced to Jail for Tax Evasion

Posted by Michael Raichelson | Jul 19, 2013 | 0 Comments

Famous fashion designer Domenico Dolce and Stefano Gabbana were handed a suspended prison sentence of one year and eight months for hiding over one billion Euros, according the media. This order was given by the Milan, Italy court.  Dolce and Gabbana were initially investigated in 2008 for sellin...

California Homeowners Bill of Rights

Posted by Michael Raichelson | Jun 17, 2013 | 0 Comments

Prior to 2013, many homeowners faced uncharted waters when it came to foreclosure.  While most of those problems still persist, to ensure fair lending and borrowing practices for homeowners, California passed the California Homeowners Bill of Rights, which guarantees fairness and transprency for ...

Stopping a Foreclosure – The Automatic Stay

Posted by Michael Raichelson | Jun 13, 2013 | 0 Comments

Clients facing foreclosure or repossession need immediate relief to stop the foreclosure or repossession.  When you file a Chapter 7 or 13 bankruptcy, the automatic stay is triggered.  This is the immediate relief that is needed in that the automatic stay stop most creditors from continuing with ...

Sinbad Files for Chapter 7 Bankruptcy Protection

Posted by Michael Raichelson | Jun 13, 2013 | 0 Comments

Sinbad (real name David Adkins) filed for chapter 7 bankruptcy on April 4, 2013. The 90's comedian has actually filed for chapter 7 bankruptcy two times since 2009 and the current filing is Sinbad's third time. The first attempt to discharge his debts was dismissed due to lack of document product...

Oreck Vacuum Company Files Chapter 11 Bankruptcy

Posted by Michael Raichelson | Jun 13, 2013 | 0 Comments

One of America's best-known vacuum and cleaning supply company Oreck filed Chapter 11 bankruptcy. Chapter 11 is a chapter of the United States bankruptcy code that allows reorganization, which is most prominently used by corporate entities. Oreck is still going to continue to operate its business...

Bankruptcy Meeting of Creditors

Posted by Michael Raichelson | Jun 13, 2013 | 0 Comments

Once you file a Chapter 7 or Chapter 13 bankruptcy you are given a 341(a) meeting of creditors hearing date. This date is very important! It is not an actual court hearing where you go into a courtroom and a judge sees you. The meeting of creditors is also not a room filled with all of your credi...

Bankruptcy Fraud

Posted by Michael Raichelson | Jun 13, 2013 | 0 Comments

Some debtors may think they can get away with hiding, selling or transferring assets before filing a bankruptcy, but the truth is it is nearly impossible to not get caught. In fact, it is a federal crime to conceal assets in a Chapter 7 bankruptcy and if done it can result into some serious feder...

The Rich Dodge Paying Taxes

Posted by Michael Raichelson | May 07, 2013 | 0 Comments

As the middle and lower class continue to pay their taxes (to the best of their ability) and deal with the IRS on a day to day basis, the upper class continues to duck and dodge the IRS bullet of paying taxes. The wealthiest get away with hiding their fortunes by using offshore accounts to avoid ...

Income Taxes can be Discharged in Bankruptcy

Posted by Michael Raichelson | May 07, 2013 | 0 Comments

Most people do not know they can discharge debts for federal income taxes in a Chapter 7 bankruptcy, however there are exceptions. If all of the following conditions are met, income taxes may be discharged: 1. The taxes are from unpaid income taxes from filed tax returns. You must have filed a ta...

What happens if I do not pay my taxes in full?

Posted by Michael Raichelson | Apr 25, 2013 | 0 Comments

If there are monies owed on unpaid taxes, the IRS charges interest from the due date of the return, i.e., typically April 15th, until the date of payment.  The interest rate is the federal short term rate plus three percent, and the interest rate is calculated on a quarterly basis.  Also, if you ...

OFFER IN COMPROMISE BASICS

Posted by Michael Raichelson | Apr 24, 2013 | 0 Comments

An offer in compromise is an agreement between the taxpayer and the IRS that settles a tax debt for less than what is owed.  Eligible taxpayers will get a fresh start.  Applying for an offer in compromise does not ensure that the taxpayer will be successful.  It is necessary to hire experienced c...

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The Law Offices of Michael H. Raichelson is located in Calabasas, California, and serves clients in and around Woodland Hills, Wilmington, Harbor City, Carson, Torrance, San Pedro, Long Beach, Compton, Ventura, Gardena, and Los Angeles County.

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