Does Filing Bankruptcy Result in Increased Taxes?
Generally, any debt discharged due to a bankruptcy filing is not considered income under either federal or Pennsylvania state income tax laws. There are always exceptions, so be sure to speak with a qualified bankruptcy or tax attorney for guidance.
Other Bankruptcy FAQs:
- Are Alimony Debts and Payments Discharged in Bankruptcy?
- Are Income Taxes Dischargeable in Bankruptcy?
- Are My Student Loans Dischargeable in Bankruptcy?
- Can A Creditor Repossess My Car Without Informing Me?
- Can Bankruptcy Help My Credit Score?
- Can Chapter 7 Bankruptcy Save My Home From Foreclosure?
- Can I Convert From a Chapter 13 to a Chapter 7 or From a Chapter 7 to a Chapter 13 in Pennsylvania?
- Can I discharge A Federal Tax Lien?
- Can I File Chapter 7 and Still Keep My Car?
- Can I Keep My Boat If I File A Chapter 7 Bankruptcy?
- Can I Keep My Car After Filing Chapter 13?
- Can I Keep My Vacation Home If I File Bankruptcy?
- Can My Bankruptcy Be Denied?
- Does a Chapter 13 Ruin Your Credit?
- Does Filing Bankruptcy Result in Increased Taxes?
- How Much Does It Cost to Hire a Bankruptcy Lawyer in Pennsylvania?
- How Often Can I File For Bankruptcy in Pennsylvania?
- What Happens to Your Car Loan When You File Chapter 7?
- What to Do If Your Wages Are Garnished in Pennsylvania?
- Will Filing Chapter 7 Hurt My Credit?
- Will I Lose My Retirement Account if I File For Bankruptcy?
- Will The Trustee Come to My House?