Getting Rid Of Tax Debts In Bankruptcy: Difference between revisions

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Revision as of 12:56, 5 October 2024

Ask ten people a person's can discharge tax debts in bankruptcy and you will get ten different causes. The correct answer is always you can, but only if certain tests are seen.

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Clients should be aware that different rules apply once the IRS has already placed a tax lien against children. A bankruptcy may relieve you of personal liability on a tax debt, but using some circumstances will not discharge a correctly filed tax lien. After bankruptcy, the government cannot chase you personally for the debt, however the lien will remain on any assets an individual will not be able to trade these assets without satisfying the outstanding lien. - this includes your home. Depending upon the lien also using the filed, may be other new to attack the validity of the lien.

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