Not everyone wants to file bankruptcy just to get rid of a tax debt. Bankruptcy is the nuclear option to discharge income tax debts. You can bankrupt income taxes by aging an income tax debt that is not fraudulent. But you can also resolve your tax debt sometimes for pennies on the dollar if you…
Nick Thompson, a tax and bankruptcy lawyer is a former assistant attorney general who worked for the tax department. At that time, he was assigned to prosecute business, trust, and individual tax cases in West Virginia. (Nick’s license is number 51 before the US Tax Court in Washington DC.) What’s even more impressive that Nick…
This is how to get the IRS account transcript you need in minutes. Discharging Kentucky and Indiana income taxes in bankruptcy is no different from discharging IRS federal income taxes. Accountants and lawyers used to file Form 8821 or 2848 in order to get them but now this can be done online. Below, we show…