Tuesday, October 4

Tag: Bankruptcy and Taxes

Bankruptcy and Taxes – What Bankruptcy Law Says About Taxes Not Discharged
Bankruptcy Law

Bankruptcy and Taxes – What Bankruptcy Law Says About Taxes Not Discharged

Bankruptcy is a legal process by which individuals and entities can seek relief from their debts. Bankruptcy is often imposed on a person or entity, but may also be initiated by the debtor. For more information about bankruptcy, see the following links. Also, keep in mind that taxes are not discharged, even though the debtor generally is discharged from all debts. Also, consider restructured debt before filing for bankruptcy. Chapter 7 bankruptcy When you file for bankruptcy, you can keep most of your property. However, some debts cannot be discharged under Chapter 7 bankruptcy law. This includes certain types of secured debt, which can be reaffirmed. Fortunately, attorneys can use the law to protect your assets. Here are a few things to know about this type of bankruptcy. Also, rem...