A tax lien may attach to assets worth more than the amount of the underlying tax. That could make either a small or a huge difference.
How Bankruptcy Helps With a Recorded Income Tax Lien that Attaches to No Equity
A tax lien recorded against your home hurts even if the home has no equity. A Chapter 13 bankruptcy can often get rid of such tax liens.
Newer Income Tax Debt in Bankrutpcy
Bankruptcy does not writes off newer income taxes, but Chapter 7 and Chapter 13 both still have ways of helping.
Giving Thanks for Chapter 13 Tools During Thanksgiving Week
Chapter 13 protects you from collection of back child/spousal support and income taxes, & can save you a ton of money on your vehicle loan.
What Is Chapter 13 Bankruptcy?
Chapter 13 is a creative and flexible way to deal with your debts, often much more powerfully that a Chapter 7 “straight bankruptcy” can.
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: 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: 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: 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.
October Tax Season: Can Bankruptcy Get Rid of My Income Tax Debt?
Yes, if you meet certain conditions you CAN legally discharge–permanently write off–federal and state income taxes.
October Tax Season: A Dozen Key Questions about Tax and Bankruptcy–Part 1
The October 15 extended tax filing deadline is now the new April 15 for many Americans. If you owe and canât pay, here are some solutions.
Supreme Court Decides that an Inherited IRA Is Not Protected from Creditors in Bankruptcy
An Individual Retirement Account no longer consists of “retirement funds” once it is transferred to a beneficiary. So it’s not exempt.
The Extraordinary Tools of Bankruptcy: Taking the Bite Out of an Income Tax Lien on Nondischargeable Taxes
Chapter 13 hugely helps minimize the effect of a tax lien on older, dischargeable tax debts. But it also does wonders with newer taxes.
The Extraordinary Tools of Bankruptcy: Taking the Bite Out of an Income Tax Lien
Bankruptcy can prevent a tax lien from being recorded. But even if one IS recorded before you file, Chapter 13 can particularly benefit you.