Blog Posts in March, 2016

Will Bankruptcy Eliminate My Outstanding Taxes?

A common misconception about bankruptcy is that a person will not be able to discharge their tax debts. This is untrue! While most outstanding tax debts will indeed still need to be repaid, old income tax debts can be sometimes be eliminated when filing for Chapter 7 bankruptcy. In order for tax debt to be discharged, it must: Be income based Be at least three years past due Have been filed at ...