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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I currently owe the IRS over $30,000 in penalties and interest

Customer Question

I currently owe the IRS over $30,000 in penalties and interest can I include this debt in a chapter 7?

Thanks,
Cliff Curtis
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 3 years ago.

cfortunato :

Hi - my name is Chris and I'm a Bankruptcy and Consumer Protection attorney here to assist you.

cfortunato :

Whether or not what you owe to the IRS can be discharged in a Bankruptcy depends on the type of taxes owed and for what tax year(s) the taxes are owed.

cfortunato :

1) What type of taxes are owed?

cfortunato :

2) For what tax year(s) are the taxes owed?

cfortunato :

3) Were the tax returns filed on time for those tax years?

JACUSTOMER-7j924b6w- :

The taxes are from personal income, the taxes owed are for the years 2003-2006 and yes they were filed on time. I was audited and the IRS discovered that the tax expert I used during the time used erroneous deductions. Yes they were filed on time.

cfortunato :

Thank you for your response.

cfortunato :

Based on the information you provided, you can have those taxes, and also the applicable penalties and interest, discharged in a Chapter 7 Bankruptcy.

cfortunato :

(Income taxes that are for tax years more than 3 years ago, and for which the income tax returns were filed, can be discharged.)

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