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Can Bankruptcy Clear Your IRS Tax Debt? Here's the Truth
Video Transcript
Can filing for bankruptcy clear your tax debt? The answer is sometimes. Let's explore the pros and cons of this approach. Chapter 7 bankruptcy can discharge tax debt if the tax return was due over 3 years ago, you filed the return at least 2 years ago, and the tax debt was assessed more than 240 days ago. Bankruptcy will not clear payroll taxes or recent income tax due. It can also severely impact your credit for years. Options like Offer in Compromise or installment agreements may be less intrusive and harmful and equally effective. At Victory Tax Lawyers will help you explore the best options for your tax situation. Need advice on tax debt relief? Call Victory Tax Lawyers today 866-938-6918 or visit victorytaxlaw.com.
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Attorney-Reviewed Content
This content was written and reviewed by the licensed tax attorneys at Victory Tax Lawyers, LLP. Our attorneys specialize in IRS tax relief and are licensed members of the California State Bar with a nationwide practice.
Last Reviewed: 2026 · Meet Our Attorneys →