If you need to file a Chapter 13 case for other reasons, you can discharge more income tax debts in 2019 by timing it right. Last week we showed how to permanently write off (“discharge”) more of your tax debts through Chapter 7 “straight bankruptcy.” Today we show how to do this with Chapter 13 “adjustment of debts.” Why … Read More
Discharge more income tax debts through smart timing. You may be able to do so by filing your bankruptcy after certain dates of 2019. The right timing of the filing of a bankruptcy case can make a tremendous difference. Our last 8 blog posts have all been about smart timing. If you need to use the bankruptcy laws to … Read More
If you owe some income tax which qualifies for discharge and some that doesn’t, can Chapter 7 “straight bankruptcy” help you? Tax Liens under Chapter 7 Last week we showed how Chapter 7 can sometimes permanently prevent an income tax lien from hitting your home. It does that by stopping the recording of the tax lien, and then discharging … Read More
Filing a Chapter 7 case stops a tax lien recording on your home, and so may stop that tax from turning into one you must pay. Our last blog post was about how filing a Chapter 7 case buys you time with debts on your home. It’s worth expanding on one of those Chapter 7 benefits, one that can … Read More
Usually you can discharge–write off–an income tax debt by just waiting long enough. Here’s how to discharge a tax debt under Chapter 7.
Bankruptcy DOES discharge–permanently write off–certain income taxes. It’s mostly just a matter of time.
With Chapter 13 you may have to pay some part of the taxes that you could just discharge under Chapter 7, but it may be worth it.