Tag Archives: income

Discharge Income Taxes In Bankruptcy

The goal of filing bankruptcy is to discharge debt in order to get a fresh start. For people who owe tax debt, the goal remains the same — to discharge income taxes. However, a common misconception about bankruptcy law is that you can never discharge income taxes in bankruptcy. As with most bankruptcy myths and misconceptions, it is partially true but the facts are misinterpreted. If you owe income tax debt in addition to your other debts, you may be able to discharge income taxes in bankruptcy. Contact Musselwhite Meinhart & Staples, PSC to schedule a free bankruptcy consultation to discuss whether your income tax debt is dischargeable in bankruptcy. Rules Applicable to Discharge Income Taxes in Bankruptcy Determining if your back taxes are dischargeable in bankruptcy can be complex even though the Bankruptcy Code is very specific regarding the rules to discharge income taxes in bankruptcy. Most attorneys refer to these rules by the time periods used to determine if your income tax