What To Know About Discharging Tax Debts During A Chapter 7 Bankruptcy

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When your debts become so overwhelming that bankruptcy seems like the best choice, there’s likely a component of your debt that is owed to the Internal Revenue Service for personal or business taxes. In fact, many people are only interested in filing for Chapter 7 bankruptcy in particular because they’re having trouble paying back the IRS. Before assuming that filing for bankruptcy will eliminate your issues with taxes, make sure you understand these four facts about discharging tax debts with Chapter 7 filings in particular.…

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