Bankruptcy’s Effect on an Income Tax Lien

Wasson and ThornhillTax Liens

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Photo by Joshua Sukoff on Unsplash. An income tax lien creates challenges, so try to file bankruptcy to prevent one. Otherwise, bankruptcy can often help deal with a tax lien. This blog post continues a series about the smart timing of your bankruptcy filing. (It was interrupted by two blog posts updating federal unemployment benefits.) The last one in this … Read More

The Tax Exceptions

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In spite of you filing bankruptcy, the taxing authorities can still take certain very specific actions as exceptions to the automatic stay.

The “Automatic Stay”

Wasson and ThornhillAutomatic Stay

You get immediate protection from creditor collections by filing a Chapter 7 case. Same with Chapter 13 except it protects you longer, if needed.   The automatic stay is the very strong legal protection from your creditors you receive when you file a bankruptcy case. The automatic stay stops virtually all attempts by creditors to collect their debts against you, … Read More