tax liens nedd help

indiana, corporation closed in 97 - (bankrupt), bank sold assets and kept money, even though the state had tax liens against the business. My understanding is that the state tax liens should have been paid from the sale. am I correct in this assumption? any help would be greatly appreciated. we personnally filed bankruptcy ourselves and cannot afford to pay the tax on the corporation - any advice?

First of all, are you sure that you would be personally liable for the corporate taxes. It is possible, but under some circumstances you would not be.

As for the liens, if the state had recorded tax liens on specific property, the bank may be liable to the state for the value of such property. But the procedures and rules in this area are fairly sophisticated and you would probably need a tax professional, who would see all the paperwork and documents to determine your liability and the bank’s on this.