Bankruptcy does not writes off newer income taxes, but Chapter 7 and Chapter 13 both still have ways of helping.
Bankruptcy writes off income taxes, if they meet certain conditions. These conditions are relatively, but not completely, straightforward.
Chapter 7 “straight bankruptcy” is quick, usually quite straightforward, and appropriate for more situations than you might think.
Standard & Poor’s pays for giving AAA ratings to mortgage-backed securities that turned out to be little better than junk.