Don’t passively wait for the IRS to decide your fate if you owe taxes. Learn your options and potential strategies now, before it is too late!
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Bankruptcy and taxes have one common ground: finances. And you should know that if you file for bankruptcy, you will have to deal with a lot more financial problems in the future. So before you decide to finally declare that you or your company is bankrupt, make sure that you have done every possible step [...]
State or federal income taxes can be discharged in a bankruptcy proceeding under certain circumstances. However, if a tax lien has been recorded prior to the bankruptcy filing, the taxing authority will be a “secured creditor” in the bankruptcy proceeding and its lien on any real and/or personal property will survive the bankruptcy to the [...]
Discharging your income tax debt in chapter 7 is possible. Read this article to see if you qualify to discharge your income tax debt in a chapter 7 bankruptcy.
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Credit card debts and certain taxes can still be eliminated (discharged) in Chapter 7 bankruptcy with no repayment. The new bankruptcy laws did not alter the law the way most people think.
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