Tag Archives: income taxes

Advantages of Paying Your 2012 Income Tax through Chapter 13

If you expect to owe 2012 income tax, you may be able to take care of it simply by paying less to your other creditors.

Paying Your 2012 Income Taxes on the Backs of Your Other Creditors

If you expect to owe 2012 income taxes, and you file bankruptcy after December 31, that tax can be “included” in your case.

Income Taxes and Self-Interest in a Marriage

Each spouse in a marriage with significant tax debt has his or her self-interest, which may need a different solution than the other spouse.

Spouse Needs to Join Bankruptcy to Discharge Income Taxes, But Reluctant Because Has No Other Debts and Has Separate Asset

Finding the best way out of this seeming Catch-22 depends on a full understanding of your unique situation and your goals.

Married Couples’ Protection from the IRS under Chapter 7 and Chapter 13

Filing bankruptcy with or without your spouse, and under Chapter 7 or Chapter 13, may affect what protections you each receive.

A Simple Chapter 13 Case

If you have debts that can’t be written off (“discharged”) in a “straight” Chapter 7 case, such as back child support or recent income taxes, Chapter 13 can be a much better alternative. A couple blogs ago I wrote about the discharge of debts under Chapter 7. I ended by saying that if you have […]

The “Automatic Stay” in Chapter 7 vs. Chapter 13

Chapter 7 often protects you from creditors well enough. But if need be, Chapter 13 protects you longer.

The Most Important Choice in Bankruptcy

Chapter 13 costs much more than Chapter 7, takes about 10 times as long, so you do a Chapter 7 if possible, right?

Chapter 13 Conquers Both Older and Newer Income Taxes

If you owe a number of years of income tax debt, Chapter 13 allows you to favor those taxes that have to be favored, while dumping the taxes that can be dumped. In my last blog I gave an example showing how Chapter 13 can be an extremely good way to handle income tax debts […]

Chapter 13 Tames Your Income Tax Monster

A “straight” Chapter 7 can write off some income taxes. But if you owe recent taxes, or multiple years of taxes, Chapter 13 is usually a much better way to go. It often provides tremendous advantages over both Chapter 7 and dealing with the IRS on your own. I’ll illustrate this with an example, and […]

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