Should your financially troubled client choose a Chapter 13 bankruptcy?

05/7/2013 | Tax Adviser, The

Chapter 13, also called the wage earner's plan, lets debtors pay off debt through a court-approved repayment plan, and such plans are becoming very common. However, discharge of tax debts is more difficult than before the 2005 Bankruptcy Abuse Prevention Act. This article helps tax practitioners analyze a client's situation from a tax and non-tax perspective to decide whether Chapter 13 or some other option is best.

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Tax Adviser, The

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