Discharge of Federal Income Taxes in Bankruptcy
A taxpayer may discharge federal income taxes in a Chapter 7 if ALL of the following criteria are met:
1.The tax is for a year for which a tax return is due more than 3 years prior to the filing of the bankruptcy petition;
2.A tax return was filed more than 2 years prior to the filing of the petition;
3.The tax was assessed more than 240 days prior to filing of the petition;
4. Lastly, the tax must not be due to a fraudulent tax return.
You may see chapter 7 or chapter 13 as a last resort. But with proper financial planning and legal advisement on your side, bankruptcy can be the moment when you regain control of your finances. I want to support you with all the legal expertise, experience, creativity and deductive reasoning I have to give. My life has been dedicated to developing the skills and experience that allow me to help you navigate financially difficult times. Call for a free consultation at (215) 551-7109.
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There is a lot of false information on the internet about bankruptcy. The truth is that creditors have plenty of motivation to keep you sc...
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