Filing your unfiled income tax returns with the IRS can be a very costly mistake, unless you clear the way first.

You should never file your late tax returns with the IRS. Why? Because you could fall into a trap.

Here is some solid advice.

If you’ve filed all your previous returns and don’t owe any money, and you can full pay any balance shown on this return, then you can file it now without a problem.

The Chapter 7 bankruptcy is the most popular form of personal bankruptcy here in the US. Often times we have to resort to it because we have experienced an unplanned, sudden loss of a job, or a major injury. If you truly want to discharge all of your debts and have a fresh financial start then you must have bankruptcy liquidation under this chapter.