Bankruptcy

Bankruptcy can discharge certain IRS tax debts, but federal tax liens often survive the process. In most cases, your personal obligation to pay qualifying tax debts may be eliminated through Chapter 7 or Chapter 13 bankruptcy. However, if the IRS filed a Notice of Federal Tax Lien before your bankruptcy, that lien typically remains attached […]

Filing for bankruptcy in New York won’t stop an IRS audit. The automatic stay that comes with bankruptcy protects you from collection actions like levies and wage garnishments. But it doesn’t prevent the IRS from continuing to examine your tax returns or assess additional taxes. If you’re facing both an audit and tax debt, understanding

No, bankruptcy typically cannot discharge payroll tax debt. Federal bankruptcy law specifically excludes these taxes from discharge in both Chapter 7 and Chapter 13 cases. If you’re a business owner or officer who failed to pay over withheld employment taxes, you may face personal liability through the Trust Fund Recovery Penalty. As a bankruptcy and

Tax debt can feel like a weight you can’t shake. The IRS collected $77.6 billion in unpaid taxes during fiscal year 2024, showing just how aggressively the government pursues what it’s owed. At the same time, bankruptcy filings rose to 517,308 cases in 2024, many from people drowning in tax obligations. If you’re facing overwhelming

Filing for bankruptcy can be a daunting process, especially when you’re already struggling financially. One of the most common questions people have is about the cost of filing for bankruptcy in New York. At John D’Amato PLLC, we understand that this is a crucial consideration for anyone contemplating bankruptcy. In this guide, we’ll break down

Facing financial hardships and filing for bankruptcy can be a daunting experience, but it doesn’t have to mean the end of your homeownership dreams. In New York, individuals with a history of bankruptcy may still be eligible for an Federal Housing Administration (FHA) loan, which can provide a path to homeownership with more lenient credit

If you’re struggling with overwhelming debt in New York and considering filing for Chapter 7 bankruptcy, one of the key eligibility requirements is passing the bankruptcy “means test.” This test evaluates your household income to determine if you qualify for a Chapter 7 straight bankruptcy, where your unsecured debts like credit cards and medical bills

Bankruptcy is a legal procedure that provides relief to individuals and businesses struggling with overwhelming debt. It allows them to restructure or wipe their debts and get a fresh financial start. However, not all bankruptcy cases are approved. In New York, there are instances where bankruptcies can be denied, leaving debtors in a precarious situation.

If you’re struggling with overwhelming debt in New York, filing for Chapter 7 bankruptcy may provide the fresh financial start you need. Many ask, “Is there a limit to how much debt is allowed for Chapter 7?” The short answer is no, there is no minimum or maximum debt limit if you’re filing for Chapter