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April 2017 Archives

Can bankruptcy help with my tax debt?

Both Chapter 7 bankruptcy and Chapter 13 bankruptcy can offer relief from many types of unsecured and other debt, as well as help to reduce financial pressure from creditors that can reduce the quality of your life in a number of ways. However, bankruptcy's benefits are less certain for taxes than other types of debt. Just about everyone has heard of the saying about death and taxes being the only certain things in life; to a great extent, that saying is true. If you are behind on your taxes, it doesn't mean all hope is necessarily lost, but timing can make a big difference when it comes to how much of your tax debt can be eliminated with a bankruptcy.