Legal Question in Tax Law in California
Can you go bankrupt against 2006 CA State Franchise Taxes ($90,000.00)? My employer was sent a wage garnishment yesterday to start deducting in 15 days.
1 Answer from Attorneys
Not all tax liabilities are dischargeable in bankruptcy, and the analysis is fairly complex to determine if they will or will not be discharged. You should speak with a bankruptcy attorney about this. If you do not have any other unsecured debts besides the back taxes, you may want to try to handle the taxes head on with the FTB instead of having a bankruptcy on your credit for the next 10 years. An experienced tax relief attorney should be able to help you with this. There may be other options available to you besides just paying it back in monthly installments.
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