Myles Haverluck Highlights Best Ways To Negotiate IRS Tax Debt

Besides tax deductions, clients often request recommendations about IRS debt from Myles Haverluck tax and finance expert. According to Haverluck, the key to a bottom dollar tax settlement with the IRS is proving you have little to no disposable income to pay off the debt, but this is more challenging than it seems.

Any type of bottom dollar tax settlement that is advantageous to the taxpayer will include a review of the taxpayer’s financial status. As pointed out by Myles Haverluck tax debt settlement hinges on the taxpayer having very little disposable income, as well as saleable liquid assets to pay off back debt. Taxpayers can choose between two effective tax settlement methods;

1. Hardship Status; hardship status sounds straightforward, yet the IRS has their own national guidelines to meet, that is way below what most people would imagine. You would think simply gathering documents such as monthly income and bills will portray a debt-ridden individual, however, IRS has their own definitions.

When seeking a hardship status, taxpayers are really delaying any collection actions. The IRS will place your case in an “uncollectible status” and will perform checks on the case every six to nine months. After a certain period of time, the statute of limitations will clear your responsibility for the debt. Taxpayers must qualify for hardship status.

2. The second method of obtaining a bottom-dollar tax settlement is by seeking an Offer and Compromise. Obtaining an IRS tax settlement using this method uses some of the same guidelines as a hardship status; however, the process is more invasive. Seeking an offer and compromise is one of the best techniques for an IRS tax debt settlement. Taxpayers often pay about one-fourth of the tax debt owed and the new amount is payable within twelve to twenty-four months, if approved.

But as Myles Haverluck points out, any taxpayer negotiating an IRS debt settlement on his or her own behalf is making the wrong decision. Consultation with a tax expert is a must, and should always be the first step before providing any details to the IRS

How The Law Remedies Wrongful Prosecution

There are several instances when people are convicted for crimes that they never committed. In this instance, the convicted person either gets penalized wrongfully, or loses productivity and credibility in the eyes of the society. The law still has a remedy for such a happening.

Reasons Why a Conviction Loses Validity

court lawThere are several reasons that make a conviction lose validity. These reasons usually overturn the prevailing court verdict, and the convicted person gets back his freedom. Such a person should always seek a legal redress on the wrongful application of justice.

Change of Evidence

Sometimes a plaintiff can decide to say the truth after a court has already announced its verdict on the defendant. Such an occurrence annuls the prevailing verdict, and the victim goes free. Guilt or a follow up from the attorney on the side of the defendant can compel a plaintiff to eventually say the truth.

Material Evidence

There is always a high probability of new evidence coming up after a court announces its verdict and the defendant starts to serve a sentence. Such evidence alters the prevailing verdict, and the victim sometimes gets freed from incarceration. Subsequently, the victim has a right to seek for compensation for wrongful conviction.

Consequences that Arise from Wrongful Conviction

When one is convicted in a court, it becomes impossible to retain the same level of reputation that one had prior to the sentence. Sometimes it also gets impossible to get a job, or operate one’s business as usual. Importantly, there is a self altering feeling that overcomes a person such as mental anguish and embarrassment, which affects the normal way of life. Productively, one also loses since a lot of time and resources get spent in the court.

Damages for Libel or Slander

When a person seeks justice for loss of reputation or credibility, the victim can sue for defamation. One can opt to sue for libel or slander depending on the nature of the case. Under such circumstances, one can get damages for the loss of productivity, reputation, and inability to seek new employment opportunities.

Damages for Malicious Prosecution

One can also sue in regard to a tort of malicious prosecution. Under this case, a plaintiff compensates the victim in form of financial payment. The case becomes a civil case where the plaintiff becomes civilly liable for suing the victim maliciously.


Many things have to take place in order to convince the Law courts that a conviction was not fair. The regulation gives people another chance to claim innocence, but they must produce material evidence that proves the conviction wrong. Additionally, one has to know the right party to sue since it is possible to fail in a case that draws in an inappropriate party.

Dealing With Divorce: Contested And Uncontested Procedures

Divorce has two distinct faces or, rather, types: a contested divorce and an uncontested divorce.

terms and conditionsA contested divorce is a divorce where both parties can’t come to any type of agreement. This applies to when they can’t agree about the terms of the divorce (asset division, debt allocation, alimony, child support, etc) or even about getting divorced in the first place, you’ll have to hire a Tampa lawyer in this case.

An uncontested divorce is the opposite. In this case, both parties agree on everything they need to do to carry out the divorce. They usually don’t need court intervention for asset division, alimony or child support/custody. In other words, these divorces end faster and place less of a financial and emotional burden on both parties.

Contested or uncontested?

Most divorces start contested, as in the process starts as a contested divorce would. Before actual divorce trial, both parties should reach an agreement on the financial terms and other terms regarding the divorce. This is otherwise known as a settlement. Both spouses typically don’t appeal the settlement, since they usually agree with the terms of the settlement—hence, the point of the process. The fact that both spouses agree to settle, and usually without legal intervention, makes their divorce an uncontested one.

Lawyers and judges typically side with uncontested divorces for that reason. Though, if the divorce does remain contested, it’s the job of both lawyers (for each party) to come up with a way to make both parties settle.

On an interesting note, changes to the economy have made divorcing parties handle their own divorces. Most of these successful settlements are the result of uncontested divorces completed without the aid of hiring a lawyer. This type of divorce settlement is great for parties who have amicably resolved their differences and want to complete the divorce as soon as possible.

If the divorce remains contested (and both parties can’t come to an agreement), legal intervention is required to make a proper settlement. It’s highly advised to hire a lawyer for a contested divorce. Not only can they help walk you through the process, but it’s absolutely not recommended to represent yourself in a contested divorce, due to the legal complexities and emotional stakes.

Most, if not all, divorcing parties want an uncontested divorce. Some of those parties end up dealing with contested divorces. It’s up to you to work with your spouse to come to an agreement and

Dealing With Divorce: The Cost Of Children

Divorce is expensive, in many respects. Not only do both parties have to deal with court and legal fees, they also have to deal with their own individual living expenses. Most of the time, that includes the expenses they’ll need to take care of their children.

According to The law office of Ned C Khan, since both parties are effectually separated, they both responsible for doling out finances for their children. If they have multiple children, those expenses add up. The courts, too, decide how those expenses get divided among the spouses, having one spouse agree to pay support (child support) to keep their children financially secure.

The cost of children

Not only is divorce expensive, raising children is, too. Add divorce into the equation of raising children, and the costs add up fast. And, both parties need to understand that before proceeding with their divorce.

Depending on the salary, one party (usually the spouse who earns the most) must pay a specific amount of funds to the spouse with sole custody of the children. In most cases, this depicts the father paying child support (as ordered by a court) to the mother of the children (or child).

In this example, we’ll look at child support only, since spousal support is a different matter. A father of two children may decide to move into a separate apartment upon deciding to divorce his wife. When that happens, he’s responsible for paying for his new living expenses and any expenses associated with his children’s financial viability.

Sometimes, paying for themselves, their children and their legal fees leaves them in a situation where their finances are depleted. That’s where many responsible parties find themselves in trouble, since their salary can no longer support their living expenses and their children’s expenses. This causes them to fulfill their obligations of paying child support while having to deal with financially supporting themselves and the divorce proceedings.

The cost of children can come into play even when the leaving spouse finds another place to live. If they’re allowed to see their children, they’ll essentially need to have a place for their children to stay. So, instead of renting a single bedroom-bathroom apartment, they’ll need one with multiple bedrooms (and even bathrooms) instead.

The cost of children is a big factor many divorcing parties don’t surmise until it hits them. Both parties, as always, are recommended to talk to a financial adviser about how to manage their finances.

Dealing With Divorce: Should You Give Up The Marital Home?

The marital home was once a simple way for both spouses to receive some funding for their replacement home or refinancing an existing mortgage. Since the collapse of the housing market within the past decade, that is no longer as much of a reality as it seems.

Should you keep the marital home?

marital homeBoth divorcing parties now have difficulties deciding how to divide up the value of their marital home. While looks easy, most homes now experience a depreciating value. When a home’s value depreciates, it’s difficult to get any value out of the home in the first place. So, when that value is divided up between both parties, there’s literally no value to share. Both parties may even be unable to cover the costs for maintaining their home and/or mortgage payments at the time of the divorce.

That usually raises the following question: should you give up the martial home?

Most divorcing parties actually end up keeping their marital homes under joint ownership during and even after the divorce process. This usually happens when the home’s value has depreciated to the point that selling it isn’t an option (at that point in time).

The conditions of keeping the home

According to Michael Dreishpoon, an aggressive personal injury lawyer, since homes are considered a ‘barren asset,’ both divorcing parties need to think about whether or not the home is worth keeping. The condition of the housing market influences that decision, since it’s volatile to a point that home values may depreciate by as much as 30 percent in some markets. While housing values don’t deprecate that much nowadays, even the smallest loss in value can make the house look ‘worthless’ in the eyes of both parties.

Both parties might not even have enough finances to keep paying for the home, too. Even the job market in many states makes it difficult for people to make a living, since a lot of people struggle to find and keep work. Both parties, particularly if they’re having difficulties in that regard, likely won’t be able to maintain their mortgage if they have those particular troubles.

That alone is a big reason why some couples don’t immediately divorce: the financial burdens. Those parties choose to seek mediation and live together until they’re financially stable enough to divorce. That usually includes keeping the martial home together.

When you think about it, it’s often financial reasons keeping the marital home in the sights of both divorcing parties. Both parties have the responsibility to talk to financial and/or legal aid about the best

Dealing With Divorce: Are There Hidden Assets In Your Marriage?

The term assets means a lot of things. In this case, it’s a piece of property. An asset is commonly known as a type of property owned by a person, regarding as holding some type of value which can be exchanged for fulfilling debts and other commitments. In most contexts, an asset is what someone owns. The asset itself could be non-physical or physical; both types of assets have one thing in common, though: they’re worth something in monetary value.

In a divorce, asset division is a large part of settling the entire divorce. Assets have to be divided between both parties, especially if both parties hold some stakes in whatever assets. It’s only fair, after all. Though, is it really fair to keep some assets ‘hidden’ away from the division proceedings?

Hidden assets

A hidden asset, in the case of a divorce, is a property hidden by one spouse from another spouse.

hidden accessThey’re also considered difficult to discover rather than to conceal. A hidden asset can introduce more issues to divorce proceedings than expected. That alone is a big reason why both parties need to communicate and remain honest with each other throughout the divorce proceedings.

Managing assets and keeping them in the open

There are ways that both parties can manage their assets before undergoing divorce proceedings. That allows them to have evidence in the form of documentation showing the number of assets they own or manage under their individual name.

Compiling detailed financial records with asset assessments or asset valuations is the best way to do that. It’s also the best way for each party to protect themselves, in the midst of a particular emotional divorce process.

Some parties are known to employ financial tactics to attempt keep assets ‘well hidden’ until the conclusion of the divorce proceedings. Sometimes, this involves circumventing the acquisition of financial bonuses or assets well until the divorce proceedings end. It’s suggested, especially if you suspect it happening, to hire a forensic accountant to investigate possible ‘foul play’ in regards to the other party keeping certain assets out of the picture.

Investigating hidden assets before and during divorce proceedings is completely normal, in terms of seeking an amicable divorce with the other party. Being honest about where assets and other finances not only helps the divorce come to an amicable end, but it also helps both parties have a piece of mind

Legal Separations And Divorce: Other Effects To Both Parties

A legal separation is the alternative to getting a divorce, especially for people who can’t or don’t want to continue to live together during their marriage. While legal separations are for parties who plan to divorce, they’re also for parties who don’t want to end their marriage, but can’t continue to live together. After petitioning the court to legally recognize their separation, both parties will be able to live apart from one another.

Date of SeparationLegal separations are recognized in many states. The day that a court officially grants a couple their legal separation is known as the Date of Separation. That particular date also marks when the beginning of their divorce process begins, particularly if one party plans to file for divorce as soon as possible.

Even before being granted a legal separation, both parties must be aware of the legal and financial ‘sacrifices’ they might need to make. That’s why it’s important for both parties to understand what’s at stake before they amicably choose to legally separate.

What the ‘Date of Separation’ does to finances

The Date of Separation marks a time where the finances and legal issues of both parties become vulnerable. Credit, mortgage payments and retirement funds mark some of the finances up at stake before a separation is legally recognized. Besides those, other financial matters are up at stake:

Tax returns

The Date of Separation may influence how both parties may file their Federal Tax Returns. Some states declare an individual spouse’s income (after the Date of Separation) their income alone, making it the responsibility of that spouse. Many resources suggest both parties should talk to an accountant about how to handle those finances.

Businesses and other investments

Businesses and other investments undoubtedly face asset division during the divorce process. Since most states take the value of a business and/or asset from the time of the Date of Divorce (rather than the date of separation), it could dramatically impact how much one party may take out of the asset division agreement. In some cases, if the value of any asset appreciates (rises) during the period of separation, both spouses will be granted an equal share of that particular asset during the time of divorce.

Spousal support (alimony)

The Date of Separation also influences how the courts determine alimony or spousal support payments. Depending on the state, courts determine alimony based on the Date of Marriage and separation, the length of the marriage and the working/financial status of both spouses. Most states, particularly for long term marriages, entitle lower-wage earning spouses to some form of spousal support.

Legal Separations And Divorce: The Effects Of The Separation Date

Far too many people think about the divorce first. In reality, there’s another occasion that marks the ‘beginning of the end’ of a marriage. That occasion is the Date of Separation.

The Date of Separation

The Date of Separation is as it implies: it’s the date where both parties legally separate, more or less beginning the process of divorce (before one party officially files).

The date of separation marks the time where both parties are in legal and financial limbo. From that point, they maintain that legal and financial status until the Date of Divorce arrives. The type of limbo both parties remain in puts them at financial and legal risk of managing their assets, property and debts. Even outside factors affect the financial and legal status of both parties during this period, since (financial) market conditions can cause the value of their assets to potentially depreciate.

What determines the DoS

date of separationThe actual Date of Separation varies between states. Some states define the Date of Separation as the date where one spouse physically relocates from their marital place of residence. Others have a definition describing the Date of Separation as the date where the actual divorce papers are filed in court. The Date of Separation, in other states, is considered the date where one party informs the other they intend to file for divorce.

The variation in the Date of Separation can make determining the actual date tricky. The first definition regards some kind of finality for the divorcing party, while the others still may depict the parties living with each other (for various reasons). Due to that, it’s important for both parties to talk to their individual attorneys about determining the actual Date of Separation for their situation.

The Date of Separation and finances

The Date of Separation has a large effect on finances. In some cases, a lack of DoS can cause a large amount of financial needs to remain unresolved. Therefore, it’s important for both parties to sort out their finances before formally deciding a Date of Separation.

Both mortgage and credit line payments still remain within the responsibility of both parties during a marriage and even after the Date of Separation. That’s why it’s suggested for both parties to agree to close any joint credit lines (and bank accounts) before formally deciding on a date.

Retirement funds aren’t usually divided until the Date of Divorce. The party with the retirement account at risk should obtain a copy of the account’s details and benefits brochure to have a reference