bankruptcy taxes canada
Bankruptcy question?
I need help with a bankruptcy question. My ExHusband had a long time drug problem but two years ago, got his act together. During the time of his addiction, he made some really bad financial choices. He filed for Bankruptcy number 1 in 1998 and was discharged. About this time, we separated. In 2001, he filed for Bankruptcy again. Being really heavy into drugs and making a big mess of his life, his bankruptcy wasn’t discharged because he didn’t pay the fees. He also stopped filing his tax returns eventhough he owned his own business. Once he sobered up, he gave up the business and started making much better choices. His debt from his business and the not filing of his tax returns has caught up with him and Revenue Canada has frozen his bank account. He cannot file for Bankruptcy or do a Consumer Proposal because he has not been discharged from the last time. What does he do? He is staying on my couch at this point. Can’t get anyone to do his taxes because he can’t pay them. HELP
As he can’t file for bankruptcy until he discharges the last bankruptcy and his accounts are frozen, the only thing he can do is call to call Revenue Canada and tell them his situation.
Most people ignore the CRA and then they get in more trouble and get their accounts frozen.
If he talks to them directly and explains the situation, then he may be able to negotiate with them to unfreeze his accounts so he can get some help from a professional and do those taxes.
And I would get him off your couch! – You don’t need this aggro as well. (just a thought)
Good Luck
Melanie Fine, CPA
http://www.transformyourmoney.com
|
|
The Two-Income Trap: Why Middle-Class Parents are Going Broke $7.48 In this revolutionary exposé, Harvard Law School bankruptcy expert Elizabeth Warren and financial consultant Amelia Tyagi show that today’s middle-class parents are increasingly trapped by financial meltdowns. Astonishingly, sending mothers to work has made families more vulnerable to financial disaster than ever before. Today’s two-income family earns 75% more money than its single-income counte… |
|
|
The Student Loan Scam: The Most Oppressive Debt in U.S. History – and How We Can Fight Back $22.95 Alan Collinge never imagined he would become a student loan justice activist. He planned to land a solid job after college, repay his student loan debt, and then simply forget the loans ever existed. Like millions of Americans, however, in spite of working hard, Collinge fell behind on payments and entered a labyrinthine student loan nightmare.High school graduates can no longer put themselves thr… |
|
|
Debt and Taxes: Alternative ways to resolving tax debt can help business owners and self-employed professionals regain financial control of their … Article): An article from: CMA Management $5.95 This digital document is an article from CMA Management, published by Society of Management Accountants of Canada on February 1, 2002. The length of the article is 953 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Cita… |
