Income Tax And Asset Protection
I recently read seminar materials about asset protection from income tax debt which had been published by Larry Heinkel www.taxproblemsolver.com. Larry is an expert in the area of income tax debt in bankruptcy. His article pointed out some common misunderstandings about tax debts. First, Florida's homestead law does not protect homeowners from income taxes. A tax lien attaches to your homestead unlike a civil judgment. Next, Florida's statutes prohibiting creditors from garnishing wages of the head of household does not protect against IRS collections. Also, a divorce decree which specifies which spouse is responsible to pay tax liability is not binding on the IRS. The IRS can go after either divorced spouse for the full amount of tax debt.
Go NU Wildcats! What about overpaying the IRS with money that could potentially be subject to a claim or judgement,and simply applying it to future tax liabilities. I would think that Franz Kafka would go nuts over this.
I had an attorney get a lien against my Florida homestead exempted property, which is illegal but he did it and got some judge to sign off on his lawyer-prepared charging lien. I appealed at the Florida Fourth District Court of Appeals and lost (year 2010). The 4th District Court denied me a re-hearing (Mandate Affirmed), clarification and written opinion so the whole homestead exemption law could not be upheld for the Florida public or argued at the Florida Supreme Court level. Some day there will be a BIG class action lawsuit over the "Florida Homestead Exemption Law" and MY NAME will be a party to that class. I started a spreadsheet for one law firm offender ... over 80 names on it and thousands of dollars ... I can't imagine all the Florida counties and all the unethical lawyers who are going to have to pay up--the poor bar examiners who insure them! Florida Homestead Exemption Law needs a Florida Jury not another bench!