Over the years, I have learned that there is a lot of misinformation circulating about bankruptcy. Much of the information is good and gives a fair description of how a bankruptcy filing may impact you. However, there is a lot of misinformation or simply untrue information about bankruptcy. The next several blogs will deal with a number of these myths people may read about filing bankruptcy.
Bankruptcy Myth 12: You Can’t Get Rid of Back Taxes Through Bankruptcy.
FACT: A bankruptcy can eliminate many back taxes. Under the law, there are 4 or 5 qualifications that have to be met, but if these are met in your bankruptcy, your taxes are gone.