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IRS Publishes Fact Sheet on Tax Implications of New Bankruptcy Law

Irs_logo_146 The IRS on Tuesday issued a new fact sheet (FS-2005-18), New Bankruptcy Law Changes Debtors’ Responsibilities, which explains how the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 changes debtors’ responsibilities.  The new law requires debtors to satisfy their tax-filing obligations, make available previously filed tax returns, and seek credit counseling.


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