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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
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In a chapter 13 do taxes 3 years old and older go away or do

Customer Question

in a chapter 13 do taxes 3 years old and older go away or do you still have to pay them
Submitted: 6 months ago.
Category: Tax
Expert:  Lev replied 6 months ago.
A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts.Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.The same is true for the tax debt - a part MAY be forgiven - but most will be paid off with the installment payment plan.
Expert:  Lev replied 6 months ago.
On the other hand - you may apply for the installment payment plan with the IRS without filing for the bankruptcy protection.If the income tax debt meets all five of these rules, then the tax debt is discharged in bankruptcy petitions.-The due date for filing a tax return is at least three years ago.-The tax return was filed at least two years ago.-The tax assessment is at least 240 days old.-The tax return was not fraudulent.-The taxpayer is not guilty of tax evasion.Please verify your situation.See here appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you will all tax related issues.