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No. Federal taxes may not be discharged regardless of which state the bankruptcy is filed.
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∙ 12y ago
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Can IRS hold funds for bankruptcy?
can the IRS take your check if you file bankruptcy , chapter 13 or will I have to submit the check to them once received.
What about your car or airplane can you keep if filing bankruptcy for IRS debt?
You can't file bankruptcy "for IRS debt." You have to list all your debts and assets, and you can keep what you can exempt under state or federal laws. If you have little or no equity in an asset, you should have no problem.
When did Willie Nelson file for bankruptcy protection?
Willie Nelson did NOT file bankruptcy. He worked out a deal with the IRS where he would give them part of the proceeds of an album. Between that and suing his accountants, he managed to pay the IRS without filing.
Can you include IRS debts if you file bankruptcy in the state of IL?
Yes. They must be included. All debts and all assets must be included. IRS income tax debts can only be discharged, however, if the amount of tax due was determined 3 years prior to filing the bankruptcy.
Can you file bankruptcy when you debt is federal and state income taxes?
You can file bankruptcy at any time you like, but I will tell you that bankruptcy court does not have the authority to drop the taxes. The IRS or State may allow a payment plan instead of allowing them to begin confiscating property. You will still have to pay the taxes due and it may be to your benefit to work out a payment plan directly with tax department and not have to pay the legal and court fees involved with the bankruptcy.
Can you file bankruptcy on a debt owed to the IRS?
Yes you can file bankruptcy. Whether or not it is dischargeable is another matter. In a Chapter 13, it could be included in your repayment plan. Not sure how it works in a Ch 7.
If you file chapter 7 bankruptcy does that eliminate paying back the parent plus college loan?
Student loans are exempt from bankruptcy as are IRS debts
Can you file bankruptcy to keep from paying garnishment?
It depends on who is garnishing your wages. If it is a creditor than yes, if it is the IRS no.
Do you have to file a 1099c for credit card debt that was discharged in chapter 7 bankruptcy?
The debtor does not "file" a 1099C. The debtor may receive a 1099C from the creditor which also sends it to the IRS. The discharge of the debt in bankruptcy nullifies the 1099C. There is a form or a part of the 1040 set for disclosing this information to the IRS.
Can you file bankruptcy on a government farm loan?
You don't file bankruptcy "on" any loan. You file bankruptcy , listing all of your debts. Debts that are not dischargeable include child support arrears, student loans, federal income taxes filed or changed by the IRS within the three years prior to filing and certain judgments for damages due to fraud. State income taxes also cannot be discharged.If you obtain credit knowing you are bankrupt or intending to file bankruptcy, the creditor can object to the discharge of that loan.
Am preparing to file chapter 7 but cannot find out what to do with IRS debt know it cannot be discharged but should still list it and then try to make arrangements to pay IRS after bankruptcy?
Talk with your bankruptcy attorney. Also, make an appointment with a councelor at your local IRS Field Office. Take all information you have received to date from IRS. It is much better to talk to a local agent face-to-face than try to deal with IRS over the phone. Yes, list it. Even if it cannot be discharged, you still want it listed so that the IRS is given notice that you have entered bankruptcy. I would NOT recommend telling the IRS you are going into bankruptcy. If they know you are about to go into bankruptcy, they will file a tax lien (and if you don't already have one, then you don't want one). The court will notify them once you have filed your petition as long as you list them as a creditor.
Can you file tax debt on a chapter 7 bankruptcy State and federal?
No on state taxes, yes on federal income taxes if the filing date or the date on which the IRS determined the tax due is more than 3 years prior to filing.
