Welcome to Thinking Outside the Box Law Legal Podcast, the podcast that empowers individuals and small business owners to navigate financial challenges with innovative legal strategies. Hosted by the experienced team at Thinking Outside the Box Law, Inc., based in Naperville, Illinois, we delve into topics that matter to you—bankruptcy law, tax disputes, small business financial planning, and more success stories to help you achieve a fresh financial start. Whether you're facing overwhelming ...
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Thinking Outside the Box Law Legal Issues Podcast: IRS Offers Tax Relief for Identity Theft Victims
9:11
9:11
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9:11This podcast from Thinking Outside the Box Law, Inc. announces a significant development from the IRS, ILM 202511015, which provides new avenues for tax relief for victims of online scams. The guidance clarifies that losses from scams with a profit motive, like investment or phishing schemes, may now be tax-deductible under IRC § 165(c)(2). It spec…
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Thinking Outside the Box Law Legal Issues Podcast: The Good and Bad of Unfiled Tax Returns
13:58
13:58
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13:58This legal podcast, authored by Jon Dowat, an attorney at Thinking Outside The Box Law, Inc., focuses on the serious repercussions of not filing tax returns, whether or not a person owes taxes. The text explains that even if no taxes are owed, individuals can forfeit refunds, lose opportunities to carry over business losses, miss out on refundable …
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Thinking Outside The Box Law: Can I discharge tax debt in bankruptcy?
11:33
11:33
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11:33This legal article from Thinking Outside The Box Law, Inc. addresses the complex question of whether tax debt can be discharged in bankruptcy, a topic often considered taboo. It highlights that while common belief suggests tax debt is untouchable, specific conditions can allow for its inclusion in bankruptcy proceedings. The author, Jon Dowat, uses…
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Thinking Outside The Box Law: Why Failing the Means Test Is Your First Big Win In Beating Tax Debt
12:24
12:24
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12:24What is the Means Test? The means test was introduced with the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), and was designed to weed out high-income earners presumed to be abusing Chapter 7. Here’s how it works: Step 1: Income comparison: Your average monthly income over the last six months is compared to your state’s median in…
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Thinking Outside The Box Law: The Real Risk From An IRS Audit
9:51
9:51
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9:51Welcome to Thinking Outside the Box Law, the podcast that empowers individuals and small business owners to navigate financial challenges with innovative legal strategies. Hosted by the experienced team at Thinking Outside the Box Law, Inc., based in Naperville, Illinois, we delve into topics that matter to you—bankruptcy law, tax disputes, small b…
…
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Thinking Outside the Box Law Legal Issues for Businesses
7:49
7:49
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7:49Welcome to Thinking Outside the Box Law, the podcast that empowers individuals and small business owners to navigate financial challenges with innovative legal strategies. Hosted by the experienced team at Thinking Outside the Box Law, Inc., based in Naperville, Illinois, we delve into topics that matter to you—bankruptcy law, tax disputes, small b…
…
continue reading