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In order to qualify for taxes to be dischargeable in bankruptcy, it has to meet 3 or 4 rules. Here we explain those rules.
The bankruptcy court may discharge certain tax debts depending on specifics within the United States Bankruptcy Code. Learn more about tax debt forgiveness here.
“Why does my client’s $20,000 on his 433 not equal $20,000 in assets?” Well, I went forward and tried to explain to him how this works.
If your client owes tax debt, an offer in compromise is a way to settle for less than the amount owed—as long as your client meets certain requirements.
Qualification for IRS payment plans like installment agreements are based on you client’s income and expenses.