When You Can and Cannot Wipe Out Taxes in Bankruptcy


In Chapter 7 Liquidation Bankruptcy, the court erases your obligation to pay most or all debts. However, some debts are “non-dischargeable,” which means you still have to pay them after filing for bankruptcy.

Income taxes can be discharged in a Chapter 7 bankruptcy, but only if you meet all five of the following tax code rules...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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