Difference between revisions of "Can I Wipe Out Tax Debt In Liquidation"

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Revision as of 01:40, 13 May 2026


Note: Mcdougal is not a CPA or tax commercial. This article is for general information purposes, and really should not be construed as tax details. Readers are strongly asked to consult their tax professional regarding their personal tax situation.

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Congress finally acted on New Year's Day, passing the "fiscal cliff" regulation. This law extended the existing tax rate structure for single taxpayers with taxable income of lower USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For those with higher incomes, the top tax rate was increased to 13.6% These limits are determined ahead of foreign earned income omission.

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