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Are There Tax Consequences for Filing Bankruptcy?

Usually, no, simply because you are insolvent and you are removing yourself from the debt, rather than having it go into a judgment or being forgiven by the company. In some instances, for example, even with the IRS, if you owe a certain amount of money to the IRS and you file bankruptcy and you are insolvent, then sometimes they will reduce the amount that you owe to them.