Chapter 7 Bankruptcy filing can have a substantial effect on your personal income tax debt. If you file a Chapter 7 Bankruptcy that is ultimately discharged by the court, whether your specific IRS or state tax debt may be discharged depends on the unique facts and circumstances of each case. There are a variety of factors that play into determining whether the filing of a Chapter 7 or a Chapter 13 Bankruptcy is in the best interest of the taxpayer.
The most important factors in determining whether your specific personal income tax could be discharged by bankruptcy that you can control are whether or not you filed an original tax return and whether that return was filed within a specific period prior to the bankruptcy petition being filed. For more information on potential tax debt resolution through bankruptcy petition filing, please contact our office at 7960-529-4926 OR 617-535-3300 today!