Every once in a while I get people in my office that think they are able to outsmart the IRS, the Franchise Tax Board, the Bankruptcy Courts and their trustees, and general creditors. The problem is that some of these entities, especially those funded with government money, have seemingly unlimited resources and ability to go after those that seek to hide assets and income.
A recent Yahoo! article described one man's 20-year fight to hide such assets. The man is a former retail technology company owner that had approximately $100 million available to pay off creditors. An interesting quote from the article is that:
"'I hope he will do the right thing and pay his debts,' said [an attorney for the law firm seeking to collect]. 'But most people do not let go of $100 million easily.'"
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The taxing agencies want to get their money. If you have it available to you, they will try to find it. If the taxes owed are income taxes, there are ways around such agencies' reach. In many cases, we can file a Chapter 7 bankruptcy to eliminate taxes older than three (3) years. We simply look at the date the taxes were due and count back three years. There are other rules that may also apply in your case.
One key to watch out for is if the IRS files a tax lien on you. Such liens are not easily dischargeable. They attach to all property you own. To discharge the debt, you will have to treat such a tax as a secured debt in your bankruptcy schedules.
The key here is to speak with the San Jose Bankruptcy Lawyer at the Henshaw Law Office today at (408) 533-1075.
Hiding activa is serieus een misdaad. Die kan echt invloed op de balans. Maar sommige van de mensen die dit doen om het faillissement te voorkomen. Faillissement is een juridische status van een persoon die niet kan terugbetalen van de schulden te danken heeft aan de schuldeisers.
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