Explore how bankruptcy can clear specific tax debts under stringent conditions, the consequences of bankruptcy, and ...

While you can receive tax refunds while in bankruptcy, your refund may be used to pay down federal tax debt. One of the Chapter 7 bankruptcy consequences is that your tax return may be turned over ...

When outstanding tax debt becomes overwhelming, you should weigh all of your options. There are two main types of bankruptcy you can use to discharge tax debt, but it’s important to work with ...

The section usually allows the trustee to recover “fraudulent conveyances,” transfers that a debtor makes shortly before bankruptcy. All Resort Group, Inc., made a payment to the IRS to pay off its ...

What about child support, back taxes and student loans? Bankruptcy proceedings can discharge unsecured personal loans and credit-card debt, but if your friend was unsuccessful in their chapter 7 ...

Question: My wife and I recently met with a bankruptcy attorney to see if we can get out from under a mountain of credit card debt and back taxes. Can we claim our tax debts as liabilities in my ...

For example, most credit card debt, medical bills, personal loans and utility arrears can be discharged in certain types of bankruptcy. However, student loans, back taxes, child support and ...

The intersection of bankruptcy and tax debt involves intricate legal requirements and timing considerations that can significantly impact your ability to discharge your tax obligations.

Still, millions of Americans find themselves in this difficult position at some point or another, with many wondering if bankruptcy might offer a way out of their tax-related financial troubles.