Dear Friend, Bankruptcy proceedings can discharge unsecured personal loans and credit-card debt, but if your friend was ...

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. Skip to content ...

While millions of Americans owe the IRS money in back taxes, some unfortunately owe a lot more than others. Take this 33-year ...

Back taxes refer to unpaid taxes that remain outstanding from previous years, either due to missed payments, underreporting of income or adjustments in tax filings after an audit. These unpaid ...

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 ...

Many Americans struggle to pay off back taxes. According to the latest IRS data, taxpayers owed more than $133 billion to the tax agency in the fall of 2021, at the end of a government fiscal year ...

Does the IRS ever forgive back taxes? ... However, the 10-year clock can be paused or extended under certain conditions, such as if you file for bankruptcy, ...

To remedy the situation, many people turn to bankruptcy as a debt relief option. Ban ... Student loans, back taxes and child or spousal support payments are not relieved by bankruptcy. ...

Asking for a friend (no, really). If a person files for bankruptcy, and it is subsequently dismissed (that is, not deemed an appropriate bankruptcy case by the court), and the person has some ...

Can creditors still go after him for child support, back taxes and student debt? ‘Most of those old debts are credit-card debts’ Last Updated: Dec. 4, 2024 at 5:38 p.m. ET First Published: Nov ...