Bankruptcy and the IRS

Can bankruptcy get you out of a bind with the IRS and eliminate your tax debt? If this was a true or false law school exam, I would say that’s a trick question.  The answer is both – bankruptcy can discharge tax debt, and it can’t. Huh? There are many rules in the bankruptcy code that […]

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When all else fails – or even if all else does not fail – Chapter 7 bankruptcy can be an excellent option to take old IRS problems out of your life. Yes, bankruptcy can eliminate tax debt. But bankruptcy is also incorrectly associated with losing assets, having everything you own wiped out by the bankruptcy […]

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Proceeding blindly is something that you rarely want to do with the IRS. If you owe back taxes, or have unfiled returns, or are in any way concerned about an IRS problem, it’s best to first find out what the IRS knows about you. What is the IRS doing on your account?  What can they […]

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It is complicated enough to understand when taxes can be discharged in a bankruptcy.  But once it is determined that your taxes can be done away with in bankruptcy, another potential hurdle rears its ugly head:  Bankruptcy means testing. Means testing determines what type of bankruptcy you qualify to file – Chapter 7, which eliminates […]

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Chapter 7 is for you if you do not have any money left at the end of the month to repay your creditors.  It is designed to give you a fresh start from honest mistakes you made in your finances – too much credit card debt, medical bills, a failed business and yes, unpaid taxes. […]

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The ability to file a collection due process appeal is probably the most powerful right you have in defending against IRS enforcement by levy or seizure. Due process, in the context of IRS collections, means the right to reach resolution of your case before the IRS can take your property, and the right to have […]

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