Chicago IRS Tax Attorney

Chicago Tax Team - We help business professionals solve their IRS problems - FOREVER!

Call Us 312-664-6649
Free Consultation
  • IRS Radio Hour
    • IRS Radio Hour Show – 8/31
    • IRS Radio Hour Show – 8/23
    • IRS Radio Hour Show – 8/17
    • IRS Radio Hour Show – 8/10
    • IRS Radio Hour Show – 8/03
    • IRS Radio Hour Show – 7/27
    • IRS Radio Hour Show – 7/13
    • IRS Radio Hour Show – 7/06
    • IRS Radio Hour Show – 6/29
    • IRS Radio Hour Show – 6/22
    • IRS Radio Hour Audio
      • IRS Radio Hour – 6/15
      • IRS Radio Hour – 6/08
      • IRS Radio Hour – 6/01
      • IRS Radio Hour – 5/25
      • IRS Radio Hour – 5/18
      • IRS Radio Hour – 5/11
      • IRS Radio Hour – 5/04
  • Services
    • Tax Preparation
    • Tax Resolution
      • IRS Installment Agreement
      • IRS Currently Not Collectible
      • IRS Offer in Compromise
      • IRS Penalty Abatement
      • Presidential Tax Resolutions Timeline
    • Bankruptcy
      • Chapter 7
      • Chapter 13
    • Foreclosure Defense
  • About Us
    • Why Us
  • Testimonials
  • Today’s Tax Talk
    • Steven Leahy – Legal Questions Answered
  • Contact Us

How You Can Legally Settle Your Bad Debt, Avoid Foreclosure And Get A Fresh Beginning Starting Today…

April 1, 2015 by admin

Steven A. Leahy

How You Can Legally Settle Your Bad Debt, Avoid Foreclosure And Get A Fresh Beginning Starting Today…

By Steven A Leahy

On my radio show, The IRS Radio Hour, we talk a lot about helping people with financial problems. What I have discovered is when people have IRS problems, they often have other financial issues haunting them. My mission is to help as many people as I can achieve full financial recovery. That means, helping with more than just IRS problems. I help people with foreclosure issues, loan modifications, bankruptcy and other debt related problems.

A perfect case study can illustrate this approach:

Bob & Eddie (not their real names) ran a successful home repair business. But, because of health problems and the economic crash, their business seemed to disappear overnight. They were facing immediate foreclosure on two properties, bad debt law suits and massive IRS debt with liens & levies pending. Bob had given up and went into a state of depression. Eddie heard our ad and decided to see if I could help.

After meeting with me face to face, they decided to hire me to help them to full financial recovery. My team and I immediately began our investigation, filed our appearance in court on both of the Foreclosure Actions and our Power of Attorney with the IRS. We slowed down the foreclosure actions, and stopped the IRS collections efforts in order to give us time to complete our investigation.

In this case, after close consultations with Bob and Eddie, we represented them in a Chapter 7 bankruptcy. The bankruptcy resolved their bad debt issues, the threat of deficiency in the foreclosure cases and most, but not all, of their IRS problems.

After discharge of their Chapter 7 bankruptcy, Bob and Eddie were confident to start up a new business. With their new found freedom, they rebuilt their home repair business into a successful enterprise. We negotiated a loan modification on an investment property. Because the second foreclosure was pending more than 2 years after their discharge, they had an opportunity to save some money. In addition, we negotiated a cash for keys arrangement on their home, whereby they received $35,00.00 in cash upon surrender of the home.

Because we timed the chapter 7 correctly, much of their IRS debt was discharged in bankruptcy. There still remained, however, a small balance. We negotiated an installment agreement with the IRS and protected them from further levies and other IRS collection efforts.

Finally, they used this $35,000.00, in addition to money they saved during the duration of the foreclosure case, and purchased a new home. We represented them in the purchase of their new home and they moved on with their lives, in a new home, with a minimum payment to the IRS and free of any other debt.

So, if you have an IRS problem, you should consult with a local attorney. The strategy you use will make ALL the difference in how your life progresses. Before you do anything, you should give me a call. We can discuss your options, complete your an investigation and determine the best course of action. – Opem Tax Resolutions & The Law Office of Steven A. Leahy, PC (312) 664-6649. Call NOW to set up your FREE Consultation.

Filed Under: Uncategorized Tagged With: back taxes, bankruptcy chicago, debt help, foreclosure defense, IRS Tax Debt, short sale

Types of Bankruptcy

June 25, 2013 by admin

At the Law Office of Steven Leahy we offer bankruptcy services. Bankruptcy is an important tool that can offer much needed relief for those facing harassment from the IRS. Here is a brief overview of the different types of bankruptcy.

Chapter 7 Bankruptcy- This is the most common method of bankruptcy. With this method the trustee liquidates any non-exempt assets held by the debtor and uses the proceeds to pay down as much debt as possible. The portion that can’t be paid is discharged. Individuals, corporations, and partnerships are eligible for Chapter 7.

Chapter 11 Bankruptcy- This method is mostly used by businesses and can be complicated. The business continues to function and maintain ownership of assets, and the business tries to work out a reorganization plan to pay off debts. The business has 120 days to create a plan.

Chapter 13 Bankruptcy- This is similar to Chapter 11, but for individuals. The debtor works out a 3-5 year repayment plan. Some of the debt may be discharged.

Get a further overview of bankruptcy in this article: http://money.howstuffworks.com/personal-finance/debt-management/bankruptcy1.htm

Filed Under: Uncategorized Tagged With: attorney steven leahy, bankruptcy chicago, bankruptcy chicago il, chicago bankruptcy, chicago il bankruptcy

Listen to the PodCast!

IRS Radio Hour

Sunday at 5:00 pm
AM 560 The Answer
LISTEN HERE

Our Resources

  • Learn about Chicago Tax Resolution Law Firm »
  • Learn About Bankruptcy Chapter 7 »
  • Look at our blog for more information »
  • Expert IRS Tax Problems - How to Solve »
  • Timeline on IRS Tax Resolutions »
  • 
  • 
  • 
  • 
  • 

Testimonials

Our Office

Our Office has represented Clients throughout Chicago & Northern Illinois. We represent many clients from Cook County; however, we have represented clients from:

DuPage County
Kane County
Kendall County
Grundy County

Lake County
McHenry County
Will County
LaSalle County

We have helped taxpayers in Wisconsin, California, Tennessee, and perhaps your state. No matter where you call home, we look forward to your telephone call for your FREE consultation.

2525 Waukegan Road * Suite 210 * Bannockburn, Illinois 60015
Telephone: (312) 664-6649

Opem Tax Advocates, The Law Office of Steven A. Leahy, PC, Attorneys & Lawyers  Bankruptcy, Chicago, IL

Disclaimer - Privacy Policy

All text and design is copyright © 2021 Opem Tax Advocates, LLC. All rights reserved