Learn about tax attributes, which are reductions in tax credits, losses, and property basis when debt cancellation is excluded from taxable income.

The term "discharged" refers to the elimination of a debtor's obligation to pay certain types of debts. Bankruptcy offers an avenue for individuals and businesses to manage overwhelming debt. It's a ...

Question: My wife and I never recovered from the financial disaster the Pandemic caused us. We are considering filing for Chapter 7 bankruptcy relief to get out from under a mountain of credit card ...

This little-known bankruptcy timing rule can impact your case, your assets and even whether you can file at all.