Bankruptcy and Tax Elimination

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Bankruptcy and other Legal topics.

Can I file corporate bankruptcy to eliminate taxes?

Bankruptcy and Tax Elimination

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.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Legal Tip Site? Request a Tip Now!


Guru Spotlight
Mary White