Prevent Future Income Tax Liens
Bankruptcy can prevent future income tax lien recordings against your home. The result: paying nothing on the tax vs. paying it in full.
What the IRS/State Can and Can’t Do After You File Bankruptcy
Filing bankruptcy stops tax collection just like it stops other debt collection by more conventional creditors. But there are exceptions.
The Tax Exceptions to the Automatic Stay
In spite of you filing bankruptcy, the taxing authorities can still take certain very specific actions as exceptions to the automatic stay.
The Automatic Stay
Chapter 7 gives you immediate protection against creditor collection actions. Chapter 13 protects you longer, if needed.
How Bankruptcy Handles . . . a Chapter 13 Plan of Paying Income Taxes
Here's an illustration how a Chapter 13 case would pay your taxes that you could not discharge (write off) in a Chapter 7 bankruptcy.
How Bankruptcy Handles . . . Income and Withholding Taxes You Owe as the Business Owner of a Sole Proprietorship
If you want to keep your business operating but owe too much in taxes, a Chapter 13 case will protect your business while buying you time.
How Bankruptcy Handles . . . Pending Income Tax Refunds under Chapter 7
If you are thinking about filing bankruptcy and have a tax refund coming, you can usually keep your refund if you get advice about doing so.
How Bankruptcy Handles . . . a Recorded Income Tax Lien that Is Fully Secured by Your Assets
A tax lien may attach to assets worth more than the amount of the underlying tax. That could make either a small or a huge difference.
October Tax Season: How Is a Recorded Tax Lien on My Home Removed through Bankruptcy?
Bankruptcy gives you power over the IRS in getting rid of a tax lien. Chapter 13 in particular empowers you to value and pay off a lien.
October Tax Season: Does Bankruptcy’s “Automatic Stay” Stop Tax Collection, Including Garnishments, Tax Levies and Liens?
With very few limited exceptions the IRS/state must stop all collection activity, from the beginning to the end of your bankruptcy case.
Tax Season: Filing Bankruptcy Before the IRS Levies on Your Vehicle
Can the IRS seize your car or truck in payment of a tax debt you owe? Yes, if it has substantial equity. Will it do so? Possibly.
Tax Season: Filing Bankruptcy Before an Income Tax Levy on Your Paycheck and/or Bank Account
You may not think of bankruptcy as a solution to your tax problems. But do look into it before the tax collector starts grabbing at you.
Tax Season: The Many, Many Ways Bankruptcy Can Cure Your Income Tax Headache
Bankruptcy can do so much more than write off old taxes and buy time to pay newer ones. So if you owe lots of taxes, it's worth considering.
Tax Season: The IRS is Only a Slightly Special Creditor As Far As You Getting Immediate Bankruptcy Protection
You are protected from the very powerful collection capabilities of the IRS during bankruptcy virtually as if it were just any other creditor.
