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How can lien stripping reduce your debt?

People who file Chapter 13 bankruptcy can discharge some of their debt through a process called lien stripping. This is most commonly done with vehicles. However, liens can be stripped from other assets, like homes, as well. According to the Bankruptcy…

Tax code changes for 2017 have been announced

Most people haven’t even begun thinking about filing their 2016 tax returns yet. However, the Internal Revenue Service has already announced changes to the U.S. tax code for 2017. These won’t impact the tax returns you file this April. However,…

IRS reports success with foreign account reporting

Think you don’t need to report that offshore account to the IRS? Think again. A recent article in Forbes reports that the Internal Revenue Service (IRS) is hardly done with searching for unreported offshore accounts. “As we continue to receive more…

Tax authorities stepping up efforts to combat identity theft

As Americans increasingly file their taxes online, identity theft has become a growing issue. People are stealing taxpayers’ identities, filing false returns and obtaining refunds of money not owed them (or the taxpayer). State and federal authorities, including the Internal…

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