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October 20, 2006, Newsletter Issue #34: Bankruptcy and Tax Elimination

1

Tip of the Week

While this might be a euphoric thought for the average business owner who is behind in paying employment taxes, corporate bankruptcy does not eliminate tax obligations.

Business that find themselves upside down, so to speak, may find it valuable to consult a bankruptcy lawyer to decide how best to handle this type of situation with creditors and owing back taxes to the IRS.



2

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