Bankruptcy
Your back taxes, interest and penalties can be wiped out by filing bankruptcy.
If you qualify, bankruptcy can be the best solution to resolve your crushing tax problems.
Unfortunately, not everyone qualifies to wipe out their tax debt in bankruptcy. Certain rules have to be met first. If you file bankruptcy and do not meet the rules, the IRS will still be in hot pursuit after your bankruptcy is over. Proper pre-bankruptcy planning is key to determining if bankruptcy is, or can be, a viable solution.
“I have worked with Thompson Greenspon for 30 years and you have always looked out for my best interest. Can’t say enough good things.”
– John B.
Our specialists are all seasoned professionals who have years of experience working within your industry. Reach out to us today to schedule a consultation.
LATEST POSTS ON TAXES
GST Tax Exemption Has Increased, But Not Permanently
One change affecting estate plans under the Tax Cuts and Jobs Act is that, for the estates of persons dying after December 31, 2017, and before January 1, 2026, the...
Mutual Funds: Handle with Care at Year-End
As we approach the end of 2018, it’s a good idea to review the mutual funds holding in your taxable accounts and take steps to avoid potential tax traps. Here...
Got Bitcoin? Understand Your Tax Obligations
The tax treatment of bitcoin and other “virtual currencies” — also known as “cryptocurrencies” — is widely misunderstood. But if you invest in virtual currency, use it to pay for...