Effect of bankruptcy on tax lien

Attorney answers (4)

1. Licensed in MD

   

   Keith R HavensPro

   Rockville Bankruptcy Attorney

   Contributor Level 15

   

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   Answered April 14, 2011 13:01. Most likely you can wipe out the tax liabilities. However, you should be sure your bankruptcy counsel is familiar with these types of actions and addresses them appropriately.

   Please be advised that any information or advice given herein does not constitute an attorney client relationship.... morePlease be advised that any information or advice given herein does not constitute an attorney client relationship. Further, before taking any actions or deciding not to take any actions, you should seek counsel of an attorney. This forum cannot provide you with the anyalysis and detail necessary for a full and accurate opinion to be rendered. less

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2. Licensed in MD

   

   Daniel Press

   Mc Lean Bankruptcy Attorney

   Contributor Level 14

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   Answered April 15, 2011 10:40. It depends on the nature of the tax for which the lien was filed and on timing. You need to discuss this with a competent bankruptcy lawyer.

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3. 

   Robert Suhajda

   Cerritos Tax Lawyer

   Contributor Level 16

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   Answered April 14, 2011 13:08. Bankruptcy wipes out your "In Personam" ( personal) liability and not the In Rem ( against the thing) liability so the property still has the lien (a charge) against it and the lien can be foreclosed on after the bankruptcy closes. So after bankruptcy you are not personally liable for the attachments the but the property is liable. Please do some bankruptcy planning with an attorney.

   Disclaimer of California Attorney. Laws differ from state to state. Although the above response is believed to be... moreDisclaimer of California Attorney. Laws differ from state to state. Although the above response is believed to be accurate, it should not be relied upon as any type of legal advice because the information provided is incomplete. It is intended to educate the reader and a more definite answer should be based on a consultation with a lawyer. No attorney client relation is formed with me without a written contract. Good Luck starts with a strategy and a plan. Robert J. Suhajda, MS,CPA Attorney-At-Law 17721 Norwalk Blvd. #43 Artesia, CA 90701 562-924-8922 Tax Relief Lawyer. Former financial auditor and controller. Admitted to US Tax Court, Income Tax, IRS representation, Fiduciary income tax returns, Estate and Gift tax returns, Homeowner Association Strategist. less

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4. 

   Dorothy G BuncePro

   Las Vegas Bankruptcy Attorney

   Contributor Level 20

   

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   Answered April 14, 2011 14:34. Depends on the type of tax involved. If it is real estate taxes, they get wiped out in the bankruptcy as unsecured debts. If if is IRS taxes, that's a whole different story!
   
   Hope this perspective helps!

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