BANKRUPTCY AND TAXES

There are no tax ramifications from filing bankruptcy.  Discharging debt is not a taxable event.  Often times a creditor will send a debtor a 1099 form showing income received.  This is incorrect.  The debt that is discharged is not income to the debtor and should not be included as income on a tax return. 

Certain taxes can be dischargeable in bankruptcy.  This area of bankruptcy law is situation specific and requires the analysis of an attorney.

BANKRUPTCY ATTORNEY - GRAND RAPIDS MICHIGAN

Krupp Law Offices P.C. represents clients facing bankruptcy throughout West Michigan, including the cities of Grand Rapids, Holland, and Grand Haven, and the counties of Kent, Ottawa, Allegan, Barry, Newaygo, Montcalm, and Ionia.