What do you do and not do if you owe income taxes or have ongoing tax liabilities?
The huge emergency coronavirus law will provide, "as rapidly as possible," over 80 percent of American adults with money, many getting $1,200.
Chapter 7 can prevent future income tax lien recordings against your home, if the tax is truly dischargeable and you have a no-asset case.
Chapter 7 can prevent future income tax lien recordings against your home, if the tax is truly dischargeable and you have a no-asset case.
Bankruptcy can prevent future income tax lien recordings against your home. The result: paying nothing on the tax vs. paying it in full.
Don't assume that just because your income taxes are too new to be written off that 1) bankruptcy can't help, or 2) only Chapter 13 can help.
Here's how bankruptcy actually works, and works well, even when a significant debt or two can't be written off.