If you find yourself struggling financially, paying off your tax debts is not always easy. Bankruptcy can discharge many types of tax debts, helping you regain firm financial footing.
Discharging Your Tax Debts Through Bankruptcy
Filing for bankruptcy can provide tax relief when specific stipulations are met, including:
- You must have properly filed your tax returns within the two years prior to filing for bankruptcy
- The IRS must document your tax debts at least 240 days prior to filing for bankruptcy
- The tax debt discharged in bankruptcy must have been due three or more years before filing for bankruptcy
