Legal Question in Bankruptcy in California
Chtr 7 - personal income tax
Can I discharge my personal income taxes through chapter 7 bankruptcy?
How can I verify the rules or requirements pertaining to the forementioned question so that I can determine whether or not I qualify?
Can you forward the perameters to me at my e-mail address so that I can read this as well?
2 Answers from Attorneys
Re: Chtr 7 - personal income tax
Shai's posting is basically correct. There are also certain taxes not dischargeable in a Ch. 7 which may be in a Ch. 13. I suggest you visit my web page at http://www.bklaw.com/ for more details on this.
Re: Chtr 7 - personal income tax
The general rules for discharging taxes is as follows:
1) The taxes must have been due for a tax year more than three years ago.
2) the tax return must have been filed more than two years ago.
3) The taxes were not assessed within the last 240 days.
4) There was no fraud involved in the tax return.
5) The taxes must be unsecured (ie., no tax lien).
You should speak with a specialist to review your facts and get your record of account from the I.R.S.
If you need additional information or would like to set up a consultation, you can call my office at (818) 992-6588. Good Luck.
Related Questions & Answers
-
Post bankrupcy laws in oct. 1997, almost 3 years ago,( due to unforeseen... Asked 8/22/00, 2:52 am in United States California Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
