Articles on Tax Debts and Liens in Bankruptcy
Articles on Tax Debts and Liens in Bankruptcy
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Will Filing For Chapter 7 Bankruptcy Remove A Tax Lien?
Although you can get rid of some tax debts in Chapter 7 bankruptcy, if a tax lien has been recorded against your property, you are unlikely to be able to remove it in Chapter 7 bankruptcy. There are a few exceptions, however. Read on for details.
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Will Bankruptcy Stop the IRS From Collecting Tax Debts?
The automatic stay will stop the IRS from collecting taxes debt that you owe once you file a Chapter 7 or Chapter 13 bankruptcy. But depending upon the nature of the tax debt you owe, the IRS may be permitted to collect from you later.
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Will the Bankruptcy Court Take My Tax Refund?
Although it might be nice to get a tax refund at the end of the year, you might not be so happy about your savings plan if you find yourself filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Why? Because instead of using that money for your expenses, you might end up turning it over to your bankruptcy creditors. Find out how bankruptcy exemptions and planning can help you protect a tax return in bankruptcy.