Tax Relief Blog « back to all blogs Tax Debt and Bankruptcy Aug 4, 2014 by Mason Bowman, EA A lot of people that owe back taxes to the IRS and state also owe other creditors. Many of them have considered bankruptcy as an option to resolve all of their debts. In some cases bankruptcy can help.
M&M Financial's blog about taxes and bankruptcy discusses it briefly. And, Fresh Start has some limited information about it
here . The IRS has provided some useful information on their website
here .
Keep in mind that bankruptcy works differently for everyone based on individual circumstances. We believe it should be looked at as a last resort option. You can resolve your tax debt directly with the IRS and state taxing authorities. Find more information on our website by clicking the resolution options below.
If you are currently in bankruptcy, you will not be able to resolve your federal back taxes directly with the IRS. You will need to wait until your bankruptcy has been discharged to negotiate your tax debt with the IRS.
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