Getting Rid Of Tax Debts In Bankruptcy: Difference between revisions

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Revision as of 07:20, 17 September 2024

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Leave it to lawyers and the federal government to be unable to give a straight solution this question! Unfortunately, in order to be allowed to wipe out a tax debt, niche markets . five criteria that end up being satisfied.

The employer probably pays the waitress a very little wage, that allowed under many minimum wage laws because my wife a job that typically generates help. The IRS might therefore conisder that my tip is paid "for" the business. But I am under no compulsion to leave the waitress anything. The employer, on the other instrument hand, is obliged to pay the services his workers render. I absolutely don't think the exception under Section 102 applies. If the tip is taxable income to the waitress, it is simply under standard principle of Section sixty one.

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This gives us a combined total of $110,901, our itemized deductions of $19,349 and exemptions of $14,600 stay the same, giving us an entire taxable income of $76,952.

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