Subjects>Law & Government>Law & Legal Issues

Bankruptcy and taxes

Anonymous

∙ 17y ago

Updated: 11/11/2022

Taxes, like all other liabilities/debts, (or asset if your awaiting a refund) must be included in your filing. They may receive a preferential handling, but ultimately are normally discharged or resolved one way or another.

Wiki User

∙ 17y ago

What else can I help you with?

Does bankruptcy change how you file taxes?

Can you file bankruptcy on back taxes?

Can you discharge unpaid payroll taxes in bankruptcy?

Some debts, such as taxes (including payroll taxes, most student loans and unpaid wages) are not forgiven in bankruptcy even if you file, and will not be discharged even if you are given bankruptcy relief of your other debts. And being in arrears in taxes may bar you from getting any bankruptcy relief at all . Talk to an attorney as soon as possible.

Can you file banruptcy on federal taxes?

You can't. Bankruptcy does not forgive you for federal taxes.

How does bankruptcy affect filing taxes if you are in bankruptcy?

Doesn't change any of your legal obligations (other than the debts at the court), like filing taxes, or what is due.

My brother is thinking of filing bankruptcy. If he filed for bankruptcy would this also take care of the back taxes he owes on his property?

It depends on a number of circumstances; often it isn't possible to discharge back taxes in bankruptcy, but it is in some cases if the back taxes are over 3 years old.

If your bankruptcy has been discharged but your house is still in your name do you still have to pay back taxes?

A bankruptcy is not discharged. Debts are discharged. Real estate taxes are a lien on the real estate and would not usually be discharged. Talk to your bankruptcy layer.

Can an LLC claim bankruptcy if it owes state taxes?

Any corporation can file for bankruptcy, whether or not it owes taxes. If the corporation is to be liquidated, any taxes it owes are the first priority to be paid, before the debts owed to others.

Which bankruptcy removes federal taxes?

Federal income tax can sometimes be discharged in a bankruptcy, but there are several rules that apply. Only one example is, federal taxes must be at least three years in arrears before qualifying for bankruptcy discharge.

Can you file bankruptcy on the IRS in Washington state?

No. Federal taxes may not be discharged regardless of which state the bankruptcy is filed.

If you don't pay taxes but work can you file bankruptcy?

Yes

Can you file for bankruptcy even if you owe back taxes?

Yes, you can, and you may be able to discharge the taxes owed, if they are income taxes for returns filed more than three years prior to filing, unless there are more recent adjustments to the taxes owed.You can also file a Chapter 13 to arrange a payment plan for the taxes, though the IRS has become more amenable to reasonable payment plans without a bankruptcy filing.Consult an experienced bankruptcy lawyer in your area.

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