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Forgive Our Taxes is the beginning of a movement to urge Congress, the President, state legislators, & the voters to recognize that once successful people who are struggling & near bankruptcy need the forgiveness of their taxes.
Otherwise, they can’t start rebuilding their lives again and contribute their talents to society, because a federal or state tax can’t be discharged in a bankruptcy until three years after the tax is due. In other words, if you file a 2012 tax return with a tax you can’t afford to pay in 2013, you can’t get rid of that tax in a bankruptcy until April 2016. Meanwhile, the IRS or state can come after you and take whatever you manage to earn from your work or bank account.
This predicament needs to be changed, because it affects millions of citizens. These include:
- Former homeowners who lost their homes in foreclosures or sold underwater homes in short sales, and still owe a big tax bill. They face this tax, because taxes are figured on the difference between the original purchase price of a home and the sales price, less the cost of the purchase or sale. So if a home is inflated in value beyond the individual or couple exemption ($250,000 or $500,000 respectively), you can be stuck with a bill you can’t afford to pay.
- Many people who are out of work or have lost their businesses due to the Great Recession may get a big tax bill for what they earned the previous year.
- Some individuals have experienced both situations – having to sell their home and being out of work or out of their business.
In any of these situations, people who were once successful and contributing to society are struggling, and if they are required to pay the tax, they could end up on the street – costing them and society far more than if their taxes are forgiven.
This website is designed to be a call to anyone who is in this situation or supports this cause to create a powerful citizens’ group to support a new law to help those who were once successful but are struggling now by forgiving their tax bill.
This website might also lead to the formation of a Forgive Our Taxes Foundation through which wealthy individuals and companies can help those in trouble by donating funds to contribute to their taxes through the Foundation. Perhaps the Foundation might even connect donors with those they are helping — much as the Adopt a Child Foundation enables sponsors to learn about and even meet their sponsored child.
We plan to create videos and other projects to support the “Forgive Our Taxes” movement.