Discharging Income Taxes through Bankruptcy

4.5 (244)

Larry Heinkel, LLM

Tax Discharge Determinator

Friday, March 12, 2021 | 01:30 PM EST

  • AFSP
  • CPA
  • EA
  • Tax Pros
  • CTEC

1 CPE | 1 CE

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

1 CE credit of Federal Tax for Oregon Tax Preparers

1 CE credit of Federal Tax Related Matters for Enrolled Agents ( IRS Approved : GEHNZ )

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Bankruptcy is a legal process available to an individual or business to either eliminate debt or reorganize their debt so they can move forward. Through this process, you may be able to stop foreclosures and repossessions, stop harassing creditor phone calls, stop creditor lawsuits and eliminate debt. 

There are several bankruptcy options that may be filed; Chapter 7, Chapter 11, and Chapter 13 are the most common. Which of these bankruptcy chapters you may be qualified to file depends on many different criteria and questions to be answered.

Since the bankruptcy code has several rules that have to be followed in order to discharge Tax debt.​The answer to this question should come from someone like tax attorney Larry Heinkel who has helped thousands of people like you since 1983 to make the right decision for their situation. There are several options to eliminate your tax debt, including

  • a payment plan,
  • a settlement via Offer in Compromise (OIC),
  • challenging the actual amount of the liability,
  • discharging the tax debt through bankruptcy. 

Highlights of the webinar : 

  • Learn how “older” income taxes can be discharged in bankruptcy. 
  • Learn how an OIC is not always the only (or BEST!) option for the affluent taxpayer. 
  • Learn how to make money and avoid malpractice by advising clients and bankruptcy attorneys when and whether a tax debt can be eliminated through bankruptcy.

Learning Objectives

  • To identify which taxes can be eliminated in bankruptcy and which cannot
  • To recognize about taxes in bankruptcy than most bankruptcy attorneys know
  • To identify various ways of making money and avoid malpractice with clients owing large amounts to IRS.

Who Should Attend?

  • Tax Attorney
  • Tax Practitioners
  • Accountant
  • Non Profit Pros
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Firm
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Accounting Practice Owners
  • Senior Accountant
  • Accounts Director
  • Chief Accounting Officer
  • Entrepreneurial Accountant
  • Practice Administrators
  • Tax Managers
  • Accounting Managers
  • IT Managers
  • Staff of Accounting Firm
  • Innovation Manager/Director

Testimonial

4.5

(244)
59%
34%
6%
1%
0%

CL

I was terrified of filing a bankruptcy petition for clients who have tax debt for fear of committing malpractice until I attended Larry Heinkel's webinar on discharging tax debt. He provided expert information so that I can confidently file a bankruptcy petition without fear of malpractice.

BT

Great session! It was very interesting to get insight on how to effectively discharge taxes in bankruptcy. The instructor laid out an important and relevant component of this process. I learned skills that I did not know prior to attending this session.

GL

I love how the instructor reviewed the answers to the polling questions in depth. So many instructors never give us the answers or breeze right through them.

TL

Very informative presentation! The presenter gave excellent advice on which taxes are dischargeable.

AB

This is a great course, taught by Larry- a very knowledgeable teacher. It exceeded my expectations. Thanks, Larry

FC

Excellent information about bankruptcy. I learned a lot today how to represent my taxpayers whether to file bankruptcy or not.