Chapter 7 Bankruptcy Helps You SETTLE Your Income Tax Debt
Even if a straight bankruptcy would leave you owing some or all your income taxes, it may position you well to settle those taxes with an Offer in Compromise.
Even if a straight bankruptcy would leave you owing some or all your income taxes, it may position you well to settle those taxes with an Offer in Compromise.
Don’t assume that just because your income taxes are too new to be written off that 1) bankruptcy can’t help, or 2) only Chapter 13 can help.
Here are the other three hurdles your tax debt has to jump over to be forever written of in bankruptcy
Your tax debt has to jump over 4 hurdles to be forever written off in bankruptcy. But if it does, that tax is history.