Category: Bankruptcy
How bankruptcy interacts with federal tax debt. Learn which taxes can be discharged, how timing rules work, and when bankruptcy is the right tool for resolving an IRS balance.
-
Discharging Unpaid Withholding Taxes in Bankruptcy
When a business owes unpaid taxes, bankruptcy can provide the business or its owner with a fresh start. The unpaid Federal taxes can be discharged if certain requirements are met. One of these requirements is that the tax returns for the unpaid taxes are filed within certain time periods. But what if there are more…