Bankruptcy and IRS tax debts are deeply misunderstood topics, often surrounded by confusion and anxiety.

For individuals and businesses who know very little about these issues, it’s important to start with the basics – not all tax debts are wiped out by bankruptcy, and the rules for clearing IRS debts are complex. However, bankruptcy can provide relief, or at least breathing room, for those facing insurmountable tax bills.

Here’s what you need to know, presented in practical terms for the average taxpayer.

What Is Bankruptcy?

REVISED INDUSTRY STANDARDS ON “MINIMUM INFORMATION TO BE PROVIDED TO THE AUDIT COMMITTEE AND SHAREHOLDERS FOR APPROVAL OF RELATED PARTY TRANSACTIONS” The Industry Standard Forum (“ISF”), consisting of representatives from ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges and in consultation with SEBI formulated the Industry Standards on “Minimum information to be provided for review of the audit committee and shareholders for approval of a rel

We are pleased to share our latest instalment of ML Covered, our monthly round-up of key events relevant to those dealing with Management Liability Policies covering D&O, EPL and PTL-type risks.

Insolvency Service publishes its 2024/25 enforcement actions against directors

The Insolvency Service has published its enforcement outcomes for 2024-25, detailing the enforcement actions taken against directors. The information is not for the entire year but covers the period between April 2024 to December 2024.