Update: Overpaying Taxes To Protect Money From Judgment Creditors

ByJon Alper September 30, 2009May 22, 2020

I have recently posted blog articles about a client who is trying to protect money from a judgment creditor by overpaying estimated taxes to the IRS, and when a refund is due from the next tax return, asking the IRS to hold his refund to pay future taxes.

Mortgage Foreclosure | Taxes

Forclosure Tax Effect: Imputed Income From Debt Forgiveness May Be Offset By Investment Losses

ByJon Alper August 26, 2009April 27, 2021

Many people facing foreclosure are concerned about income tax liability from the lender’s forgiveness of mortgage debt. If the mortgage lender does not pursue a deficiency judgment and writes-off the loan after foreclosure the lender could send the owner a IRS Form 1099 for imputed income for the amount of debt forgiven. In the case…