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Can I File A Bankruptcy For Taxes?
In keeping with our philosophy of education and self empowerment today we are writing about a topic that even some bankruptcy attorneys are unaware of. Does that surprise you? Well. it should not. This is one of those topics where we separate the men from the boys. Information for this article came from Article From Tax Mamas Newsletter.
The answer to the question is yes, you can include taxes in a chapter 7 bankruptcy, provided that the taxes meet a certain criteria. The taxes owed are at least 3 years old.
The tax return must have been filed at least two years prior.
The tax was assessed at least 240 days before you file.
The tax was not assessed based on a fraudulent return or tax evasion.
No lean has as of yet been filed against you.
The tax liability did not result from trust fund penalties, in other words, taxes you as an employer were required to withhold from your employees.
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