A government waiver of sovereign immunity under the Bankruptcy Code does not apply to a state-law claim setting aside tax ...

Explore how bankruptcy can clear specific tax debts under stringent conditions, the consequences of bankruptcy, and ...

Chapter 7 bankruptcy, often called "liquidation bankruptcy," can discharge certain income tax debts if they meet all of these requirements:. The tax debt is at least three years old from the date ...

Whether bankruptcy can clear your tax debt depends on several factors, including the type of bankruptcy you file, the age of the tax debt and the nature of the taxes owed.

While you can receive tax refunds while in bankruptcy, your refund may be used to pay down federal tax debt. One of the Chapter 7 bankruptcy consequences is that your tax return may be turned over ...

When outstanding tax debt becomes overwhelming, you should weigh all of your options. There are two main types of bankruptcy you can use to discharge tax debt, but it’s important to work with ...

5. The taxpayer is not guilty of tax evasion. The fact that you may qualify for Chapter 7 bankruptcy protection indicates that you may be a prime candidate to file an “Offer in Compromise ...

Other taxes, such as fraud penalties or payroll taxes, cannot be eliminated through bankruptcy. You did not willfully evade paying your taxes or file a fraudulent return. Your tax debt is at least ...

Creditors can't get your IRA, but Uncle Sam can still tax you on it. The enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 put IRAs out of the reach of bankruptcy ...

There are also two main types of bankruptcy for individuals — Chapter 7 and Chapter 13 — and each differs in terms of how it addresses your tax debt. Chapter 7 bankruptcy, often called ...

However, claims against you for other taxes predating the bankruptcy petition by more than 3 years may be discharged. Payroll taxes are fiduciary taxes and are non-dischargeable.