Faced with mounting tax debt, you may have considered filing for bankruptcy. Many kinds of tax debt are fully dischargeable through bankruptcy, but not all are. In addition, an individual must meet certain requirements in order to qualify for discharging tax debt through bankruptcy. Five Rules to Discharge Tax Debt Essentially, there are five requirements  … Read more

Many tax debts are not able to be discharged in bankruptcy, but some are. Federal taxes in particular are not dischargeable, and if a large part of your outstanding debt consists of federal tax debt, it may make a big difference in whether you choose to file for Chapter 7 or Chapter 13 Fort Worth  … Read more

Tax debt, like many other forms of debt, is a growing problem in United States, especially with the current state of the economy. If you are dealing with tax debt, it is important to consider the various ways to solve your tax debt problems. But where do you start? What should you look for? Who  … Read more

April 15th will be here before you know it, and if you are like most people you are hoping for a tax refund. If you are considering filing for bankruptcy there are a few things you should know about how your taxes and bankruptcy filing could interact. Tax Refund Is Income While you may be  … Read more

As the year comes to a close, many of us have yet to think about our taxes due in just a few short months. Like so many other aspects of our financial lives we often put stressors like debt out of our mind until forced to deal with it. Unfortunately, this is a poor strategy,  … Read more

You may have heard that tax debts are not dischargeable in bankruptcy. The truth is that some tax debts are eligible for bankruptcy, but there are specific rules as to which debts qualify. Settling Tax Debts The IRS is one of the most dreaded agencies around. No one likes to talk about, deal with or  … Read more

As many state and local governments struggle with balancing their budgets and fending off bankruptcy, you may find yourself accused of tax debt you didn’t know you were guilty of.  As tax debt issues continue to pop up all over the nation, it’s important to know how to approach these issues responsibly.  We’d like to  … Read more

Next to medical debt, tax debt is a debt we really despise.  The reason that tax debt is so despicable is that most people who have tax debt didn’t even know about it!  After all, you do your best to file your taxes correctly and then you find out that you (or your CPA) missed  … Read more

Many bankruptcy cases also have a considerable amount of tax debt attached to them.  But, the bankruptcy courts can’t discharge federal tax debt.  In fact, no bankruptcy courts can.  If you owe money to the IRS… then you owe money to the IRS.  There’s no way around that one.  However, that doesn’t mean that you’re  … Read more

Many Americans today are concerned about being able to pay all of their tax debt.  In the best-case scenario, the tax debt can be feasibly paid off, but sometimes taking care of the tax debt will lead people into bankruptcy.  Assuming you didn’t skip out on paying your taxes entirely (even though it’s not an  … Read more