Bankruptcy and Deliquent Income Tax

Posted by on Mar 16, 2014 in Uncategorized | 0 comments

A potential client called my office last week wanting to know if bankruptcy could help her with the taxes she owed to the IRS. After answering some questions, we determined that bankruptcy was not going to help her. The taxes she owed were too recent. To be discharged in bankruptcy, the taxes must be at least three years old and meet several other qualifying standards. If you know someone who owes back taxes that are at least three years old, have them talk to a bankruptcy attorney to see if they might be helped. The attorney will be able to look at a tax transcript to see if all the qualifying factors are present.

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