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Welcome to JustAnswer,So sorry to hear of this dilemma. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.
Typically the bankruptcy court will require that you complete your tax return. However it is not necessary that the return be completed prior to filing
Your husband's agreement regarding his 10% commission, would be considered an asset of the bankruptcy estate.
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thank you for being so quick....
what does "asset of the bankruptcy estate mean?" does it mean i have to withhold the
monies and give it back to the court...pls clarify - i don't get it.
An asset of the bankruptcy estate is an asset that is taken by the bankruptcy court for the benefit of the creditors. You would not have to withhold the money prior to filing bankruptcy however once the bankruptcy was filed, typically the future payments would be paid directly to the bankruptcy court.
Thank you. Re: my back taxes for 3 yrs have not been paid and I owe 941s.
I have a revenue officer that I have been working with and she is aware that I am probably
going to pursue the bk. If my house in Folsom,California which would sell for less that what I
That is actually a separate question that JA requires be asked on a separate page. However you will want to know that the taxes would typically be considered a priority debt and would be paid first with any proceeds collected by the bankruptcy court
owe, is there any kind of settlement that could be reached for the 1040 taxes?
JustAnswer requires new questions to be posted on new question pages, but you can request me by starting your question with "FOR WEBLAW" and/or typing your question in my question box, which can be found here: http://www.justanswer.com/profile.aspx?PF=9968427&FID=39Best wishes for a Happy and Healthy New Year!
I realize that 941s must be paid....thank you . you are being pretty helpful
My pleasure. Please remember to click accept so that the site pays me
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