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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29798
Experience:  Taxes, Immigration, Labor Relations
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Will back taxes be affected by a bankruptcy

Customer Question

Will back taxes be affected by a bankruptcy
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

Under certain conditions - the tax debt may be discharged with the bankruptcy procedure...

Expert:  Lev replied 1 year ago.

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.
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