How does the IRS administer my tax debt when I file a bankruptcy? From Tax Debt Advisors, Inc.
Filing A Tax Bankruptcy
The IRS will cease all collection action and will transfer your account to its bankruptcy division. Any tax periods not listed on the bankruptcy petition will not be discharged in bankruptcy. A STRONG WORD OF CAUTION—bankruptcy attorneys are notorious for not finding out all the tax periods with IRS tax debt. I will qualify all of your taxes that are dischargeable in bankruptcy by getting transcripts of all IRS tax debt that you will take to our preferred attorney to handle your tax motivated bankruptcy. You should only do a tax bankruptcy with an attorney. Do not attempt to do this on your own or use a paralegal. It is just too important to leave to chance—you only get one.
Scott Allen, E.A. – Tax Debt Advisors, Inc
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