Can bankruptcy help with back taxes?

Answer You may be able to discharge back income taxes--but not payroll or trust fund taxes--under certain conditions.The tax assessment would need to have been completed at least 240 days before filing fo... Read More »

Top Q&A For: Can bankruptcy help with back taxes

Can you claim bankruptcy on taxes?

Even if you claim bankruptcy, you will still owe on most taxes, according to Nolo. You will have better luck discharging tax debt under a Chapter 7 bankruptcy versus a Chapter 13. You can discharge... Read More »

Can your taxes be taken for an unpaid bankruptcy?

According to the Bankruptcy Law Network, a New York legal firm specializing in bankruptcy cases, a bankruptcy court may seize tax refunds to help cover outstanding debts. A number of conditions, in... Read More »

Do you report a bankruptcy on your taxes?

As of 2010, discharged debts from a bankruptcy proceeding are not considered taxable income by the IRS, according to the Moran Law Group. However, some debtors still send you a 1099-C; if so, you n... Read More »

How do I file taxes after bankruptcy?

Filing income taxes after bankruptcy is not much different than filing before bankruptcy. However, many believe a couple of fallacies after they take this action. One is that tax debt will be forgi... Read More »