Income taxes can be legally written off in bankruptcy under the right conditions. With careful planning, you can meet those conditions.
October Tax Season: How Can I Keep My Business Operating While Getting Relief on My Overdue Taxes?
Would your small business thrive if you could just get rid of, or at least get better payment terms on, your overdue taxes?
October Tax Season: How Is a Recorded Tax Lien on My Home Removed through Bankruptcy?
Bankruptcy gives you power over the IRS in getting rid of a tax lien. Chapter 13 in particular empowers you to value and pay off a lien.
October Tax Season: How Can Bankruptcy Help Me If My Ex-Spouse and I Owe Joint Income Tax Debt?
Your ex-spouse’s bankruptcy filing seldom helps you, even if it writes off a joint tax. But your own Chapter 7 or 13 can help you directly.
October Tax Season: If My Ex-Spouse Owes Income Taxes Am I Liable, Too?
You’re usually completely liable on jointly filed taxes, regardless of a divorce decree saying youâre not. But the IRS may give you relief.
October Tax Season: If Behind on Filing Tax Returns and I Owe Taxes, Should I File the Returns Before Filing Bankruptcy?
Bankruptcy can be a surprising good way to solve your tax problems. But first, got to prepare your returns to get good advice about options.
October Tax Season: What Happens to My Income Tax Refund If I File a Chapter 13 Case Instead?
Chapter 13 is not as cut-and-dried in protecting your refund. But generally you can use it for an urgent expense or for an urgent creditor.
October Tax Season: What Happens to My Income Tax Refund If I File a Chapter 7 “Straight Bankruptcy” Case?–Part 3
You can’t keep your refund if you owe for another tax year. But if you discharge (write off) that tax debt, you can keep future refunds.
October Tax Season: What Happens to My Income Tax Refund If I File a Chapter 7 “Straight Bankruptcy” Case?–Part 2
Keep your refund if it’s small (enough) or by not filing bankruptcy until spending that refund (wisely).
October Tax Season: What Happens to My Income Tax Refund If I File a Chapter 7 “Straight Bankruptcy” Case?–Part 1
You can usually keep your tax refund(s), although doing so may take some maneuvering.
October Tax Season: Why Should You Think about Bankruptcy If You’re Already Paying Your Overdue Income Taxes through an Installment Agreement?
If you can afford your monthly installment agreement with the IRS/state, it may be an appealing solution. But often not the best one.
October Tax Season: Does Bankruptcy’s “Automatic Stay” Stop Tax Collection, Including Garnishments, Tax Levies and Liens?
With very few limited exceptions the IRS/state must stop all collection activity, from the beginning to the end of your bankruptcy case.
October Tax Season: What Advantages Does Chapter 13 Give You with Income Taxes that Can’t Be Written Off?
Chapter 13 “adjustment of debts” gives you many tools that Chapter 7 “straight bankruptcy” does not.
October Tax Season: If Chapter 7 Does Not Write Off My Income Taxes, Why Still File One?
Chapter 7 “straight bankruptcy” may be worthwhile if it gets rid of your other debts and leaves you able to manage your taxes.