Phoenix Bankruptcy Law News

March 2014 Archives

Do I Still Owe Taxes After Bankruptcy?

Does bankruptcy relieve your tax obligations? It's a common question debtors ask this time of the year.

Whether you owe taxes after bankruptcy will depend on a variety of factors, including the type of bankruptcy case you filed and the type of tax obligation at issue.

In some circumstances, bankruptcy law permits the discharge of tax debt. Generally, it's more feasible in Chapter 7 than in Chapter 13 bankruptcy.

3 Lessons From Mt. Gox Bankruptcy

Mt. Gox was a leading Bitcoin exchange that recently filed for bankruptcy protection, TechCrunch reports.

Though the company filed for bankruptcy in Japan, its filing serves as a cautionary tale to business owners in the U.S. about bankruptcy issues that come with entering highly volatile financial arenas of business.

Here are three legal lessons from Mt. Gox's bankruptcy filing: