Back Taxes and Bankruptcy – Usually people associate bankruptcy with credit card, loan, or mortgage debt not knowing or realizing bankruptcy can also be used to eliminate liability for unpaid taxes. The U. S. Bankruptcy Code permits discharge of certain back taxes, but several conditions do apply. Generally most business taxes are not dischargeable. People who qualify for tax discharge typically do so by filing either a Chapter 7 or Chapter 13 bankruptcy. It is best to consult with an experienced professional to assess your unique situation. A qualified bankruptcy attorney in your state can help determine whether you are eligible to obtain an IRS tax relief through bankruptcy.
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