History From The Federal Tax: Difference between revisions

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Latest revision as of 16:47, 3 September 2026

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That's a huge sum which can drive for you to bankruptcy. Clients always be aware that different rules apply once the IRS has already placed a tax lien against themselves. A bankruptcy may relieve you of personal liability on the tax debt, but in some circumstances will not discharge an effectively filed tax lien. After bankruptcy, the irs cannot chase you personally for the debt, but the lien stays on any assets in which means you will never be able to sell these assets without satisfying the outstanding lien.

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