October 17, 2017

Chapter 7 Income Tax Relief Difficult for Tardy Filers

People in financial hardship often need income tax relief. Contrary to what many people believe, income taxes can be dis-chargeable in a Chapter 7 bankruptcy case.  "Dis-chargeable" means certain income taxes will cease to exist just as other debts. A three-point test to discharge taxes in Chapter 7 bankruptcy In order for tax debt to be dischargeable, the taxes must meet a three-point … [Read more...]