Sentences with phrase «certain tax debts»

Did you know that a chapter 7 or chapter 13 bankruptcy may be able to wipe away certain tax debts?

The myth about taxes not being dischargeable in bankruptcy likely derives from the U.S. Bankruptcy Code, in which only certain tax debt for specific periods are dischargeable and only in certain situations.

These exceptions could be broadly categorized as (1) debts owed to the government or subject to a court order, such as certain tax debts or child support obligations; and (2) debts incurred through some fault of the debtor, such as those arising from civil judgments for fraud or other injury.

If you go this route all of your debts are discharged, except for student loans and certain tax debts.

Most of these types of debt are based on factors like the fault of the debtor, such as cases of fraud or embezzlement, certain tax debts, and domestic support obligations like child support.

Need advice regarding whether or not a certain tax debt is dischargeable?