The question is NOT whether taxes are dischargeable in a bankruptcy. The question that has been asked is whether the IRS can still pursue you for taxes that were discharged in a bankruptcy (which would obviously confirm that some taxes are dischargeable in specific circumstances).
If your taxes were discharged in a bankruptcy, the IRS cannot come after you for those taxes after the bankruptcy has been discharged. If they are doing so, they probably did not enter them as discharged correctly on their computer system.
To correct this, you should call IRS collections and explain to them that the taxes should have been discharged in your bankruptcy. Ask them to send a referral to the IRS Insolvency Unit, and the Insolvency Unit will be able to pull the bankruptcy records and confirm what should have been discharged.
Note that any liens that were filed before the bankruptcy will survive the discharge process. So, although the IRS debt has been discharged a lien may continue to exist. This lien only attaches to equity that was exempted in the bankruptcy process (so if you had $20,000 of equity in your home that you exempted under bankruptcy homestead exemption, the lien continues to attach to that equity). It does NOT attach to any equity that builds in your assets after the filing of your bankruptcy petition.
A Chapter 13 bankruptcy will remain on a person's credit report for the required ten years not seven.
Bankruptcy does not eliminate all tax debt. It will only eliminate tax debt that qualifies under the following conditions for a Chapter 7 bankruptcy.Must be due more than 3 years ago. The due date is usually April 15 but can be will be later if an extension was filedMust have been filed more than 2 years ago. If you have not filed your taxes and the IRS filed a substitute tax return the the taxes are not subject to discharge.Must have been assessed more than 240 days ago.Must not Involve Fraud or Intent to Evade Taxes. If you failed to disclose all of your income and as a result you owe taxes, then the taxes are not subject to discharge.Generally an experienced bankruptcy lawyer can review your tax transcripts to determine if they qualify to be discharged in a bankruptcy.
Federal income taxes due in an amount certain 3 years or more before the bankruptcy filing date can be discharged along with other dischargeable debts. You cannot just file to discharge the taxes, unless you have no other unsecured debt.
State Income Tax Claims, Federal Tax Claims, and Real Estate Taxes must be included in a bankruptcy filing. Income tax claims that are less than three years old will usually be consolidated with other debts and paid over three to five years in a Chapter 13. Depending upon income and assets, income tax claims for returns that were filed more than three years before the bankruptcy can sometimes be reduced substantially in a Chapter 13 and eliminated completely in a Chapter 7.The discharge of the debt in a bankruptcy, can actually cause taxable income for the year it is discharged if not handled proerly. You will get a 1099-C for most matters concering it.
No, a person will not owe taxes to the IRS if they haven't worked in 8 years. Taxes are only due on money earned.
If the debt was discharged in the BK, no.
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.
No, it will remain for seven years.
Accounts stay on your credit history for seven years. Bankruptcies stay on for ten. * New bankruptcy reform laws have no bearing on credit reportage. A discharged chapter 7 or 13 remain on the report for 10 years from discharge date. A dismissed chapter 7 remains for 10 years and a dismissed chapter 13 remains for 7 years.
A Chapter 13, whether it is dismissed or successfully receives discharge, is on your credit report for 7 years. A chapter 7 is on your credit report for 10 years. i called equifax and a discharged chapter 13 stays on for 7 years and a dismissed chapter 13 stays on for 10 years
Yes about every 7 years. * A chapter 7 can be filed 8 years after a previous chapter 7 discharge. A chapter 13 can be filed 4 years after a discharge of a BK 7, 11 or 12 and two years after a discharged 13.
The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.
It depends on the chapter you filed under. If you filed under Chapter 7, you have to wait 8 years before filing again. If you filed under Chapter 13, you only have to wait four years.
In 2005, they passed a law saying you can't do it again for eight years. You also have to reside in the state for two years prior to bankruptcy.
Between five (5) and six (6) years, depending on how long it took to discharge the chapter 13 bankruptcy. Generally a total of ten (10) years after the bankruptcy appears on your credit report is required before applying for prime credit. The average chapter 13 takes 4-5 years to be discharged, leaving about 5 years of having the bankruptcy still on your credit report.
Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.