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The Options Available to Taxpayers to Solve IRS Problems-Bankruptcy
By Larry Weinstein, CPA | December 12, 2007
The 5th Installment in the Series-Options Available to Taxpayers to Solve Their IRS Problems
Bankruptcy
Bankruptcy proceedings discharge certain taxes including federal income taxes. Federal income taxes can be discharged in a Chapter 7 bankruptcy proceeding. Many penalties and other assessments can be discharged through a Chapter 13 payment arrangement. Payroll tax liabilities cannot be discharged in bankruptcy.
Topics: Bankruptcy |