Chapter 13's advantages in paying off your priority income taxes become clearer when you see what you don't have to pay.
Chapter 13 gives you huge advantages for paying off your priority income tax debts. You're protected while you pay what you can afford.
With smart timing you can discharge--legally and permanently write off--more income tax debts, even with a standard Chapter 7 case.
Can anything about taxes ever be fun?! We honestly think this is interesting stuff. Happy April 15th!
To avoid owing income taxes April 15 of NEXT year, file a partial-year tax return and pay the tax on it through your Chapter 13 case.
If you had struggled to keep a business open, but have decided to throw in the towel, there's a good chance you owe taxes. Here's how to deal with them.
The IRS is just another creditor that you can get immediate protection from by filing bankruptcy. With some exceptions.
Even if a straight bankruptcy would leave you owing some or all your income taxes, it may position you well to settle those taxes with an Offer in Compromise.
Here are the other three hurdles your tax debt has to jump over to be forever written of in bankruptcy
If you expect to owe 2012 income tax, you may be able to take care of it simply by paying less to your other creditors.
Filing bankruptcy with or without your spouse, and under Chapter 7 or Chapter 13, may affect what protections you each receive.