Your back taxes, interest and penalties often can be wiped out by filing bankruptcy. If you qualify, bankruptcy might be the best solution to resolve your crushing tax problems.
Unfortunately, not everyone qualifies to wipe out their tax debt in bankruptcy. Certain rules have to be met first. If you file bankruptcy and don't meet the rules, the IRS will still be in hot pursuit after your bankruptcy is over. Proper pre-bankruptcy planning is key to determining if bankruptcy is or can be a viable solution.
We are not bankruptcy attorneys, so we can only discuss the tax aspects of bankruptcy. If you have other debts or want further information about other aspects of bankruptcy, we recommend you also speak with a bankruptcy attorney.