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Additional Details
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mhalvas2b | Does anyone know if you can file a BK chapter 7 on back taxes? |
My husband owes back Taxes from before we were Married, in the sum of $ 30,000. We are having trouble getting on top of this debt, someone told me we could file Chapter 7 on this , if not has anyone have an idea for help with this. ( I dont need those saying pay it, I understand it is a DUE to us bill, and we would gladley pay it, its the peneltey and dailey re-acuring intrest Im trying to avoide) We pay and extra 25% a week for this debt and it is only going up..not down HELP!!! |
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Softball Mom
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Taxes are not dischargeable, so filing Chapter 7 would do nothing. If you have a lot of other bills, it may help relieve some of those other debts so you could pay your taxes. Talk to a good attorney about your options. |
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Steve C
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I have been a tax accountant for 27 years, specializing in helping people precisely in your kind of bind. I am responding because some of the other responses I've read were from misinformed people. There are, in fact, ways to have income taxes discharged in Bankrupty court, but few lawyers know them, because this involves advanced knowledge of tax law, not bankruptcy law. But because your amount of tax debt is relatively small, I think your money would be better spent of getting a tax pro to prepare what is called an "Offer in Compromise" (form 656) to be filed with the IRS. In my 27 years of practice I have prepared literally hundreds of such offers and have never had one denied. Indeed, I was one of the first people to ever have an offer accepted in the Los Angeles District (to the amazement of a firm of 400 tax attorneys I worked with back then).
Generally speaking, an Offer in Compromise will be accepted provided the amount offered is greater (even though only narrowly so) than the IRS could hope to collect through enforced collection actions. This means you will be required to pay no more than you can actually afford and the balance is simply wiped out. |
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acermill
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Bankruptcies do not relieve you of any liability for unpaid taxes. You owe them until the day he dies. |
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taxman94066
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I have to wonder if some of the people posting have ANY tax knowledge or do you they make up answers just to screw with people? I see "Top Contributors" giving answers which are completely and categorically wrong, so please unless you know what you are talking about, stop posting garbage.
Generally speaking, income taxes more than three years old, that have been voluntarily filed more than two years ago and have been assessed more than 240 days ago ARE DISCHARGEABLE in a Chapter 7 bankruptcy.
That said, many people do not qualify for Chapter 7 anymore because their income is over the limit. See a bankruptcy attorney for proper advice, but for G-d sakes, do not listen to the answers from the vast majority of the clowns posting here.
Additionally, another poster makes the following ridiculous statement:
I think your money would be better spent of getting a tax pro to prepare what is called an "Offer in Compromise" (form 656) to be filed with the IRS. In my 27 years of practice I have prepared literally hundreds of such offers and have never had one denied.
What rubbish! If this liar has a license to represent taxpayers, he's in violation of Circular 230 and should lose that license. Unfortunately, a large portion of those in the tax relief industry are charlatans and this type of lying pronouncements makes it clear that this poster is nothing but a charlatan. |
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Judy1
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No, bankrupcy will normally not do anything to cancel the back taxes.
It's possible that you might be able to get an Offer In Compromise accepted, but they don't take a lot of them. Are you working with a CPA? Stay away from the companies advertising on TV to fix your IRS debts, but talking to a knowledgable CPA could be a real good idea. |
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Nancy Kay
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taxes are NOT dischargeable in bankruptcy. contact the taxing authority and negotiate a settlement and a payment plan. |
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Zandelia
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Call the IRS directly and ask for the one time restructure plan. They will negotiate a settlement and set up a payment plan. There will be no more penalties or interest after that unless you fail to make a scheduled payment (Which is something you DO NOT want to do). |
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