Share post
Share
Debt Consolidation Forums US tax system and impact on debt forums

Can tax be totally discharged through bankruptcy?

Date: Sun, 02/03/2019 22:04
member profile picture
Posts: 1
Credits: 0
[Donate]

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




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

Sub: #1 posted on Mon, 02/04/2019 - 01:19

ditchdebt ditchdebt

(Posts: 679 | Credits: )

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.

Sub: #2 posted on Mon, 02/04/2019 - 02:06

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

Talk to a good bankruptcy attorney for assistance. There are many clauses regarding tax debt discharge.

Sub: #3 posted on Fri, 02/08/2019 - 04:37

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

Talk to a good bankruptcy attorney for assistance. There are many clauses regarding tax debt discharge.

Sub: #4 posted on Fri, 02/08/2019 - 04:37

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

You can discharge tax in bankruptcy if you have filed the income tax return at least 2 years ago. Also, make sure you haven't committed any income tax fraud, ever.

Sub: #5 posted on Sun, 02/10/2019 - 21:37

tiarajoseph11 tiarajoseph11

(Posts: 467 | Credits: )


DebtConsolidationCare (IAPDA member)
BBB (A+) logo for DebtCC
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2020 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 1.267 seconds.