Finding the Right Bankruptcy Attorney Bankruptcy can be a scary word. However, with the right bankruptcy attorney, it may spell relief. Filing for bankruptcy may provide a solution to debt problems and give you a fresh start. All bankruptcy proceedings are governed by the Bankruptcy Code, which classifies bankruptcy matters in different chapters depending on
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Bankruptcy and Taxes
Bankruptcy and Taxes As a tax attorney, I am often asked if taxes can be discharged in bankruptcy. The answer to that question is . . . sometimes. Even when bankruptcy is available for a tax debt, bankruptcy may not be the best option for a person with a tax debt. Some tax debts are
Pros and Cons of Filing for Bankruptcy
Pros and Cons of Filing for Bankruptcy When you are researching whether or not you should file for bankruptcy, you are inundated with confusing information and jargon you are likely unfamiliar with. To help you with this process, we have compiled and condensed some information you should know about the differences between Chapter 7 and
Discharging state income taxes in bankruptcy
State Income Taxes in Bankruptcy State income tax can be burdensome and may contribute to a debtor’s decision to file for bankruptcy. Fortunately, state income tax is dischargeable in bankruptcy under certain circumstances. Those circumstances are largely identical to the circumstances under which federal income taxes can be discharged, as the power of the bankruptcy
Requirements for Discharging Taxes in Bankruptcy
A debtor will typically file for bankruptcy in order to seek the protection of the bankruptcy laws against debts that cannot be paid in full, and it is not uncommon that such debts will include federal tax debts owed to the Internal Revenue Service (IRS). Typically, federal tax debt is not dischargeable in bankruptcy. That