Tax Debt

Can Student Loans Now Be Discharged In Bankruptcy?

Can Student Loans Now Be Discharged In Bankruptcy?

Unlike other consumer debt such as credit card and mortgage debt, however, student loans traditionally cannot be discharged in bankruptcy. Why? Some can't explain the rationale for the student loan "no bankruptcy" exception, but others say it grew from a concern that student loan borrowers could take advantage of bankruptcy laws, borrow a bunch of debt, earn a degree and then file for bankruptcy. There are exceptions, however, namely if certain conditions regarding financial hardship are met.

Individuals and Businesses have more time to challenge a wrongful IRS levy

Individuals and Businesses have more time to challenge a wrongful IRS levy

Individuals and businesses have additional time to file an administrative claim or to bring a civil action for wrongful levy or seizure, according to the Internal Revenue Service. The tax reform law enacted in December, extended the time limit for filing an administrative claim and for bringing a suit for wrongful levy from nine months to two years.