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If you have filed for bankruptcy and your boyfriend claims you as a dependent on his tax return will this affect your bankruptcy?
The person filing for the BK will have to present IRS and in most cases state tax documents. This may create a problem for the BK filer and for the person who claimed them as a dependent. IRS regulations for claiming dependents is very strict, the claiming of a non-relative, non-spouse or anyone who lives in the household when there is not a legally established relationship is not considered an eligible dependant. In such a situation as cited it is quite possible the BK will be dismissed and the IRS will initiate an audit of the tax filer.
What else can I help you with?
Can you discharge a court settlement through declaring bankruptcy?
In general, court settlements can be discharged through bankruptcy, but it depends on the nature of the settlement and the bankruptcy type filed. For example, debts resulting from personal injury claims or fraud may not be dischargeable in bankruptcy. It's essential to consult with a bankruptcy attorney to understand how specific settlements and claims are treated under bankruptcy law.
Can the Bank go after the cosigner for a balance that was settled with them before a bankruptcy?
yes, unless the co-signer claims bankruptcy
What does it mean when someone claims you as a dependent, and can anyone claim you as a dependent?
When someone claims you as a dependent, it means they can receive tax benefits for supporting you financially. Not everyone can claim you as a dependent; there are specific rules regarding relationship, income, and support that determine if someone can claim you.
Can a person file for bankruptcy to avoid paying small claims court?
Probably, assuming they are actually bankrupt. If they are not actually bankrupt, then the automatic stay will delay the small claims court for a while, but the person who filed for bankruptcy is going to end up in even more hot water with the bankruptcy court.
How Can Bankruptcy affect a lump sum pension buyout?
Bankruptcy can significantly impact a lump sum pension buyout by potentially altering the availability of funds and the terms of the buyout. If a company undergoes bankruptcy, pension plans may be subject to restructuring or cuts, potentially resulting in reduced payouts for beneficiaries. Additionally, bankruptcy proceedings may prioritize creditor claims over pension obligations, leaving retirees with less security in their lump sum buyout. It's essential for individuals to understand their rights and the implications of bankruptcy on their pension plans.
Are employees unsecured priority claims in Bankruptcy Court?
Unpaid employees are priority unsecured bankruptcy claims up to approximately 10,000.
Dependent claims that he had not a fair?
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What is the difference between independent and dependent claims in a patent application?
Independent claims in a patent application stand alone and define the invention on their own, while dependent claims refer back to and build upon the independent claims.
Can the Bank go after the cosigner for a balance that was settled with them before a bankruptcy?
yes, unless the co-signer claims bankruptcy
What does it mean when someone claims you as a dependent, and can anyone claim you as a dependent?
When someone claims you as a dependent, it means they can receive tax benefits for supporting you financially. Not everyone can claim you as a dependent; there are specific rules regarding relationship, income, and support that determine if someone can claim you.
Can a person file for bankruptcy to avoid paying small claims court?
Probably, assuming they are actually bankrupt. If they are not actually bankrupt, then the automatic stay will delay the small claims court for a while, but the person who filed for bankruptcy is going to end up in even more hot water with the bankruptcy court.
What does it mean when someone claims you for taxes?
it means that you are the person's dependent.
How long can a company stay in bankruptcy proceedings?
There is no timeframe. Some take years. Some creditors can file suit in the bankruptcy court to protect claims if need be. This is normally used on items such as cars that go down in value over time and are secured claims.
What bankruptcy information should you know before you consider filing for bankruptcy?
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
When should a stockholder receive payment if a company declares bankruptcy?
A stockholder should receive payment only after the claims of the creditors have been paid off if that company declares bankruptcy.
What has the author Francis L Lamer written?
Francis L. Lamer has written: 'Priority of Crown claims in insolvency' -- subject(s): Priorities of claims and liens, Bankruptcy
What should you do if someone claims you as a dependent on their taxes?
If someone claims you as a dependent on their taxes without your permission, you should communicate with them to resolve the situation. If necessary, you may need to file your taxes as an independent taxpayer and provide documentation to support your claim.
