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Yes, as a general rule. Taxes of all kinds are not discharged by the bankruptcy process. That means, when it's all over with bankruptcy, you still owe taxes to the federal gorvernment, and any other government. In short, fiiling a petition in bankruptcy and a subsequent discharge will not get you out of paying taxes to the government. It's really easy to filing a petition in bankruptcy; it's very expensive not to do it right; the Bankruptcy Court is just not the same as your Magistrate's court, or the small-claim's court. It's very expensive to do it wrong and you cant do it but every so often (time limits: you just have to see the code. If you have a bankruptcy sitution you really need to see a lawyer who works with bankruptcy.
Wiki User
∙ 11y ago
Wiki User
∙ 15y agoAbsolutely. They will be handled as part of the process.
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If you file taxes while in bankrupt will you get a refund?
I depends on the type of bankruptcy and your agreement with the trustee/court.
Can you receive a tax return if you are paying back taxes through bankruptcy?
Probably not. The IRS is getting out of sending paper tax returns to taxpayers. They want you to file electronically now. That is for everyone, though, it has nothing to do with whether you are in bankruptcy or not. NOW.... IF you are asking whether you will receive a tax REFUND while paying back taxes then the answer is a DEFINITE "N-O"! The IRS is not going to give you money while you still owe them money. They will "apply" any refunds/credit due you to whatever taxes you still owe.
Your student loans are in default your attorney says if you file bankruptcy you will still receive your federal income taxes is this true?
While in general you should always follow your attorney's advice, you may wish a second opinion from another attorney this time. A bankruptcy does not get you out of student loans. If you were going to lose your income tax refund to the student loan people, then even after bankruptcy you still will.
You have filed bankruptcy and had back taxes put into your chapter 13 which you filed last year your question is now that the new year has come you have filed your taxes again and will be receiving a?
If you are asking whether you will receive an income tax refund while you still owe taxes, the answer is no. The IRS will require payments and keep your refunds until the bill is paid in full.
What is loan reconcillation?
When you file bankruptcy, you may wish to reconcile a loan. Basically, it's a loan that you have that you don't want to file bankruptcy on. You intend to keep paying it as normal, while still declaring bankruptcy on other loans.
Can i file for bankrupsy while i still have studrnt loans to pay?
Yes, but in the United States, student loan debt cannot be discharged in bankruptcy. You will still owe the money, and the interest.
Do people have to pay taxes while in prison?
Yes, individuals in prison are still required to pay federal income taxes on any income earned while incarcerated. However, they may not have access to certain deductions or credits available to those outside of prison.
Can you divorce while in bankruptcy?
Yes, you can divorce while in bankruptcy. Bankruptcy has no effect on whether you can divorce or not. While divorce and bankruptcy can occur simultaneously, it can end up delaying the bankruptcy process. Ultimately the proceedings can continue and the parties can divorce without issue. I've written more about this here: http://www.freshstartlaw.com/know-about-bankruptcy/
Does a tax refund automatically get sent by the IRS to bankruptcy court after a chapter 7 discharge?
No. Everything that happens in a bankruptcy case goes through the (7 or 13) trustee and if the trustee has not acted to get the refund, but has told you it must be sent to him/her, that is your obligation when you receive it. If the trustee did not know about the refund, and you omitted that information from your schedules, you may find your bankruptcy dismissed with prejudice, so you will not be able to re-file it for a while. If you owe the IRS back taxes, they may intercept it. Then it will depend on whether the taxes were or will be discharged. Talk to a lawyer.
While in a chapter 13 bankruptcy can you stop the bankruptcy?
Yes, and if things don't work out, you can refile.
Can you keep your house while going into bankruptcy?
No.
While in bankruptcy can you lease your property?
Yes
