| False Hope...Despite assurances by our government | | | | · The tax debt has to be from 3 years ago or |
| leaders that we are not entering a recession, the rest | | | | further back. Any debt from the last 3 years can not |
| of us know that we are. The sub prime lending crisis, | | | | be included in bankruptcy. |
| the rising gas prices have hurt multiple businesses, | | | | · You can not have any unfiled tax years; this |
| especially the small and independent business person. If | | | | will automatically disqualify your IRS debt from the |
| you were a contractor working in the construction | | | | bankruptcy. |
| business you know just how bad things really are. | | | | · Your tax debt can not have come from a |
| Tighten your belt...You're not getting as much work as | | | | fraudulent return. If you cheated on your taxes and got |
| you used to. You can't afford to pay your IRS taxes, | | | | audited the IRS will still get their money. |
| and they keep adding up. You're in debt to other | | | | What if? Even if I can't get my IRS debt included in the |
| creditors for business loans. Your business is going | | | | bankruptcy, am I temporarily safe from the IRS? Yes |
| down fast, and you're going down along with it. | | | | and no...even if you don't include your tax debt in your |
| The walls are closing in...Right now you're very likely | | | | bankruptcy any collection actions fall under the |
| considering filing bankruptcy...you may even be | | | | automatic stay. An automatic stay legally prohibits any |
| considering closing your business and selling off your | | | | collection actions from anyone until the bankruptcy has |
| assets to pay your creditors. In short you are in a bad | | | | ended. So yes you are exempt from IRS collection |
| situation. But even owing other creditors you still have | | | | practices while in the bankruptcy. |
| the shadow of the IRS looming over everything. And | | | | What about my tax return refund? Do I get those |
| the IRS is determined to get you tax debt whether | | | | while I'm in bankruptcy? Unfortunately no, your refund |
| you owe creditors or are in bankruptcy. | | | | goes to paying off your IRS tax debt. |
| Telling it straight...What is the deal with an IRS debt and | | | | They'll wait...But the IRS is very patient, and if you still |
| bankruptcy? You've probably heard some things about | | | | owe the debt after the bankruptcy is discharged or |
| getting your IRS discharged in a bankruptcy. Some of | | | | dismissed you may be in for a rude awakening. |
| them true, some of them not. | | | | No protection...First of all interest and penalties continue |
| What you need to know...So if you've lost your | | | | to add on your debt, so depending on how long you |
| business, and you're drowning in debt, and you're filing | | | | were in bankruptcy your debt may have ballooned. |
| bankruptcy; how can you include you IRS tax debt | | | | Also your time in bankruptcy extends the Statute of |
| with the bankruptcy. | | | | Limitation which is the amount of time the IRS has to |
| If you want to get your bankruptcy successfully | | | | collect on your debt. |
| discharged in a bankruptcy here are some of the | | | | Now you have the smoking gun...Use it! |
| requirements: | | | | |