Tax Issues In Bankruptcy

07 Feb What About The IRS?

Many People are under the impression that you can't wipe out IRS debt in bankruptcy. The good news is YES, you can wipe out not only IRS debt, but state tax debt, as well. BUT the tax debt must meet certain criteria. Mostly, for this article, we are talking about income taxes, but some other kinds of taxes may be dischargeable as well. The requirements for discharging income tax in bankruptcy are as follows:
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