How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Roger Your Own Question
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 30895
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
Type Your Bankruptcy Law Question Here...
Roger is online now
A new question is answered every 9 seconds

I was just notified of a Missouri income tax assessment for

This answer was rated:

I was just notified of a Missouri income tax assessment for 2008 taxes. My accountant is reviewing it now, but it looks like they failed to file a MO return in addition to a KS return, which was filed and which did declare the MO income. For reasons other than that (this is a complicating issue), I am considering filing chapter 7 bankruptcy soon, probably before the end of the year. Would that tax assessment be dischargeable?
Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney. Thanks for your question.

Yes, it is possible to discharge state and federal income taxes through a chapter 7 bankruptcy.

The Bankruptcy code sets out specific time periods that determine if you can discharge your taxes, often called the 3-year, 2-year, and 240-day rules (or the 3-2-240 rules). Under these rules, you can discharge taxes that came due 3 years before filing for bankruptcy, as long as it has been at least 2 years since you filed the tax forms and 240 days since the taxes were assessed. These rules are often misunderstood. However, the important thing to understand is that you must meet the requirements of all three rules to discharge your taxes.

Thus, it is likely that since these taxes are from 2008, you should have a chance to have the taxes discharged.
Roger and 5 other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

Thanks for the useful, definitive answer. I can research further from here, so this was extremely helpful. It is also good news! Thanks.

Related Bankruptcy Law Questions