WARREN & MIGLIACCIO GUIDE CLIENTS THROUGH TAX ISSUES OF BANKRUPTCY AND DIVORCE
02/08/2013

Richardson, Texas attorneys offer tax expertise for clients filing bankruptcy or going through divorce

Online PR News – 08-February-2013 – Richardson, TX – Richardson, TX – With the approach of the April 15 tax deadline, thoughts inevitably turn to taxes. For those facing the tax ramifications of bankruptcy or divorce, this time of year is especially fraught with anxiety. In the Dallas area, attorneys Gary Warren and Christopher Migliaccio are experienced and knowledgeable advocates for their clients, and they are well equipped to explain tax responsibilities and calm the apprehension associated with bankruptcy and divorce.

In the case of bankruptcy, many people assume that filing for bankruptcy eliminates the need to pay back taxes owed. Not necessarily. While other debts may be discharged, unpaid back taxes are sometimes not forgiven. If Uncle Sam owes the client money, the trustee (appointed by the court or the creditors) will use the tax refund to satisfy creditors because tax refunds are considered part of the bankruptcy estate. However, in certain cases, income tax debts may be eligible for discharge, so it is vital that clients considering bankruptcy consult with Warren & Migliaccio to learn the specific conditions necessary for wiping out federal income tax debt.

In the case of divorce, the decree often specifies which parent gets the tax exemption for dependent children. If the divorce decree does not stipulate which parent gets the exemption, the IRS specifies that the parent who has the child for the most nights in the year is the parent entitled to take the exemption. Even if one parent takes the dependency exemption, the other parent may qualify for head of household under certain conditions. And parents who have Medical Savings Accounts (MSAs) or Health Savings Accounts (HSAs) provided by their employer may be able to claim an exemption. Tax questions are not always easy to resolve in the case of divorced parents, and the attorneys at Warren & Migliaccio can help prevent tax blunders that can result in penalties.

In their legal practice, attorney Christopher Migliaccio focuses on Chapter 7 and Chapter 13 bankruptcies and Gary Warren handles family law, including divorce and child support modification cases. Both attorneys are graduates of the Thomas M. Cooley School of Law in Lansing, Michigan, and have practiced law since 1994. In their practice, the attorneys provide superior legal and tax counsel to their clients and families.

The law firm of Warren & Migliaccio is located at 3600 Shire Blvd., Suite 205, Richardson, TX 75082. To contact Warren & Migliaccio, call 972.600.2680 or toll free 888.470.8155. To learn more about their practice, visit them on the web at http://www.wmtxlaw.com.

About Warren & Migliaccio, L.L.P.:
Warren & Migliaccio, L.L.P. - The law firm of Warren & Migliaccio is located at 3600 Shire Blvd., Suite 205, Richardson, TX 75082. Focusing their practice in bankruptcy and family law, the attorneys serve clients in Richardson, Plano, Garland, Dallas, and throughout the DFW Metroplex. To schedule a consultation, call 888.584.9614. To learn more about the attorneys and their practice areas, visit Warren & Migliaccio on the web at http://www.wmtxlaw.com.

For extra information kindly visit: : http://www.wmtxlaw.com