Skip to main content

Can tax be totally discharged through bankruptcy?

Can tax be totally discharged through bankruptcy?

Submitted by Peterj on Sun, 02/03/2019 - 22:04
Posts:
Credits:
[Donate]

Can tax be totally discharged through bankruptcy? Does it depend on any factor?


In case of Chapter 13 bankruptcy, you can't wipe out tax debts; instead, you repay the tax debts through a repayment plan. Therefore, it may require to repay your tax debts along with other debts in a period of 3-5 years.


Submitted by Ryan Miller on Mon, 02/04/2019 - 02:06

Ryan Miller

( Posts: 249 | Credits: 2769 )


You can discharge tax in bankruptcy under the following circumstances:


  1. You have not committed any income tax fraud

  2. The tax debt is 3 years old

  3. You have filed the income tax return at least 2 years ago

  4. The IRS has assessed the income tax debt 240 days before filing bankruptcy


Submitted by ditchdebt on Mon, 02/04/2019 - 01:19

ditchdebt

( Posts: 675 | Credits: )