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.

"It is out of our control at this point. There is nothing we can do to get those taxes until the bankruptcy court resolves this,” the mayor said.

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 ...

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.

Typically, in bankruptcy proceedings a creditor must return payments made shortly before the debtor filed for bankruptcy. At Monday’s argument in United States v.Miller, the justices were asked to ...

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 ...