I will be happy to assist you. Your Wife can file bankruptcy individually, and all dischargeable debts in her name will be discharged, assuming she does everything according to the bankruptcy code. This does not discharge debts in their entirety. Debts that may be "co-owned" by the two of you are now your responsibility to pay back. If you have a mortgage with both your names on it, for example, she will no longer be responsible for the payment of the note, but you still would for the entire amount.
As for taxes, any refund she may get back would part of her bankruptcy estate, and this includes a joint refund. I recommend you file Married-Separate, and not ointly; this way any refund due will go to you, and not become mixed up in the bankruptcy estate
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).