Free Law Information Blog

The filing and subsequent discharge of either a Chapter 7 or a Chapter 13 bankruptcy may eliminate some types of personal income tax liability. There are, however, certain restrictions which must be met in order to completely eliminate personal income tax liability through bankruptcy.

Some personal income taxes may be eliminated through the filing and subsequent discharge of a Chapter 7 bankruptcy. The following requirements must be met for the personal income tax liability to be eliminated in a Chapter 7 bankruptcy:

The tax return must have been filed on time

The filing should not be fraudulent
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In Divorce, potential tax liability can frequently become the tool for one spouse to use against the other spouse. If improperly used, this tool can destroy all of the marital assets. In the worst case, tax liability can seriously impact the future financial security of either spouse and subject them to criminal sanctions.

Situation 1 - Your Spouse Owns a Business

The most common situation where taxes become an issue in a divorce is they there is a family business. The owner - spouse may have hidden cash receipts or engage in a practice of recording inflated expenses. This common practice by many business owners is a fraudulent attempt to minimize taxes. The other spouse is often aware of and approves of this practice. During the marriage, minimization of taxes results in higher household income and a better lifestyle for the couple.
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The services of lawyers are obtained daily throughout the United States. There are a wide variety of different lawyers including divorce lawyers, criminal lawyers, real estate lawyers, and even tax lawyers. Tax lawyers can be hired all year round; however, their services are most commonly obtained around or slightly after tax time.

When April 15th rolls around there are a number of Americans who are struggling to get their taxes completed and filed on time. In all of the rush it is possible that a number of major or minor mistakes can be made. When the Internal Revenue Service (IRS) receives a tax return they are likely to notice and change any minor mistakes. Larger mistakes may signal a red flag to the Internal Revenue Service (IRS). This red flag often leads to an Internal Revenue Service (IRS) audit. The audit process may be stressful even if a taxpayer did not knowing deceive the Internal Revenue Service (IRS).
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The services of lawyers are obtained daily throughout the United States. There are a wide variety of different lawyers including divorce lawyers, criminal lawyers, real estate lawyers, and even tax lawyers. Tax lawyers can be hired all year round; however, their services are most commonly obtained around or slightly after tax time.

When April 15th rolls around there are a number of Americans who are struggling to get their taxes completed and filed on time. In all of the rush it is possible that a number of major or minor mistakes can be made. When the Internal Revenue Service (IRS) receives a tax return they are likely to notice and change any minor mistakes. Larger mistakes may signal a red flag to the Internal Revenue Service (IRS). This red flag often leads to an Internal Revenue Service (IRS) audit. The audit process may be stressful even if a taxpayer did not knowing deceive the Internal Revenue Service (IRS).
Read the rest of this entry »