Legal Question in Bankruptcy in California
Can I file
In filing my taxes for the 2005 Tax Year, I was told that I owe $20,000. I earned $75K for the year and didn't make any estimated tax payments. To prevent being charged interest on this tax debt, can I file bankruptcy to include this tax debt and the balance of the car I purchased 4 months ago. I currently am paying my car note as agreed. I don't have any money saved. I am self-employed.
Asked on 3/23/06, 1:18 pm
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
Re: Can I file
If you're speaking of filing a Chapter 7, it likely will not help you with your tax obligation since the tax debt is a recent one. The IRS often is willing to work with people who can't afford a lump sum payment.
Answered on 3/23/06, 1:40 pm