A Common Myth Is That Taxes Are Not Dischargeable in a Bankruptcy

A common myth is that taxes are not dischargeable in a bankruptcy. Taxes can be dischargeable in a Chapter 7 bankruptcy. It can be categorized in the same bucket as all your other unsecured debts. Here are some basic rules to know: 3 Year Rule The first is the 3-Year Rule. This states that in […]

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Yes, bankruptcy can discharge certain older tax debts, but there are specific conditions that must be met for this to happen. Generally, these conditions apply to federal income tax debts: Conditions for Discharging Tax Debts in Bankruptcy: The Three-Year Rule: The tax return for the debt must have been due at least three years before […]

Can bankruptcy can discharge older tax debts?

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