Dealing with tax debts in bankruptcy after the BAPCPA


The intended beneficiaries of the humorously titled “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005” (BAPCPA) were the big banks and credit card companies — lobbying pays. The new law also helps those with alimony and child support awards. But a third winner was your friendly, neighborhood tax collector. In general, the BAPCPA makes bankruptcies more cumbersome and expensive. But it also exempts certain taxes that were previously dischargeable,…
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