Which is more powerful–tax collection or bankruptcy protection? Most of the time, bankruptcy is.
As soon as 2014 arrives, your Chapter 13 case can cover, and protect you from, more tax debt.
Even though a 3-to-5-year Chapter 13 case is often the best option for income tax debts, sometimes all you need is a simpler Chapter 7.
Just because you owe income taxes, that doesn’t necessarily make your bankruptcy case complicated.
Found so much interesting about taxes that wouldn’t fit into our last blog, so had to give you more. Such as the income and taxes of the wealthiest tax return filers.
Can anything about taxes ever be fun?! We honestly think this is interesting stuff. Happy April 15th!
By following 5 steps, you can discharge (write off) more of the income taxes you now owe.
To avoid owing income taxes April 15 of NEXT year, file a partial-year tax return and pay the tax on it through your Chapter 13 case.
Your tax debt has to jump over 4 hurdles to be forever written off in bankruptcy. But if it does, that tax is history.