The bankruptcy code is a kind of federal law which has been made for giving the people of the country another chance to clear the debts when it comes to financial income tax debts. As soon as people starts taking debts they start to grow up and very soon can go out of control. It also involves the income tax debts which were not paid in time. People have got so many misconceptions and assumptions regarding the income tax debts and the bankruptcy like if any person is under income tax debts then he can never recover in terms of repaying because they think it is a never ending process. They can very easily come out of the debts...
