Steven J. Richardson | June 29, 2010
One question I am often asked is whether people can get out from under an onerous tax burden by filing bankruptcy, either in a chapter 7 or a chapter 13. Trust fund penalties aside for unremitted payroll tax deductions, it is possible to discharge (wipe out) income taxes under certain circumstances. However, those circumstances are [...]
Category: Bankruptcy, FAQ |
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Tags: Bankruptcy, discharge, taxes
Steven J. Richardson | February 15, 2010
Tax debt is often a driving force behind the filing of a bankruptcy, either for individuals, or a business. If it is income tax for individuals, it can be discharged in bankruptcy if it is more than three years old and meets certain requirements under the bankruptcy code. However, one kind of tax debt that [...]
Category: Bankruptcy, Library |
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Tags: Bankruptcy, taxes