Results 1 to 3 of 3

Hybrid View

  1. #1
    Join Date
    Jul 2006
    Posts
    5,437

    Default Discharging Tax Liens in Bankruptcy

    In a consumer bankruptcy, is the debtor relieved of state tax liens? Federal tax liens?

    (I will be the first to admit that I know nothing about bankruptcy; if I haven't given you enough info, ask me. Thanks.)

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Discharging Tax Liens in Bankruptcy

    Liens normally survive bankruptcy. If the lien exceeds the value of the property (or the remaining equity after considering the amount of other liens which have priority) they may be partially dischargeable. Tax liens are usually paid off in full as part of Chapter 13 bankruptcy plans.

    The tax underlying the lien may survive bankruptcy even if the lien is wholly or partially discharged, for example if it results from nonfiling of tax returns or a "priority tax", although it may be possible to work out an offer of compromise with the taxing authority to reduce any underlying tax obligation.

  3. #3
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: Discharging Tax Liens in Bankruptcy

    Thanks, MKIA!

    1. Sponsored Links
       

Similar Threads

  1. Bankruptcy Issues: Discharging Our Chapter 13 Bankruptcy
    By Little Joe in forum Bankruptcy Law
    Replies: 1
    Last Post: 04-18-2010, 11:57 AM
  2. Chapter 7: Are Junior Liens Extinguished by Chapter 7 Bankruptcy
    By AZroad2ruin in forum Bankruptcy Law
    Replies: 1
    Last Post: 03-26-2010, 09:24 AM
  3. Chapter 7: Bankruptcy and Tax Liens
    By Sensational in forum Bankruptcy Law
    Replies: 1
    Last Post: 01-29-2010, 07:35 PM
  4. Chapter 7: Discharging Creditors Not Notified of a No-Assets Bankruptcy
    By yoli in forum Bankruptcy Law
    Replies: 2
    Last Post: 12-11-2009, 09:46 PM
  5. Chapter 7: Tax Collection And IRS Liens In Bankruptcy
    By krash in forum Bankruptcy Law
    Replies: 1
    Last Post: 06-07-2007, 08:04 PM
 
 
Sponsored Links

Legal Help, Information and Resources