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Can You Include Your Taxes in Your Georgia Bankruptcy?

Home » Videos » Can You Include Your Taxes in Your Georgia Bankruptcy?

Many times people on income taxes before they file a bankruptcy case. The question becomes whether the income tax can be wiped out in the bankruptcy. That’s a complicated question, and it depends on a very complicated, actually, fact pattern. The basic rules are this, generally speaking, income taxes cannot be wiped out in a bankruptcy case. There are limited circumstances in which they can. Under the current law, the income tax return must have been filed on time. If you were late on filing, the income tax return on time you’re kicked out, you’re not going to be able to wipe off those income taxes in the bankruptcy case.
The second requirement is that the income tax has to be more than three years old before you follow the bankruptcy case. Let’s take an example. Let’s say you filed this bankruptcy case in 2016, but you want to try to discharge 2014 income taxes. Well, that’s less than three years. You cannot wipe out those income taxes either. Now, let’s assume that you filed your tax return on time and the income tax was doing owing for more than three years before you file your bankruptcy petition.
The final rule here is that, if the IRS assessed any income tax or penalties are made, any adjustments to that properly filed and timely filed income tax return, if they did that within eight months, 240 days of you filing the present case, then you cannot wipe out those income taxes. For these reasons, it is very important that you have a skilled, competent, experienced bankruptcy lawyer look at the particular documentation.
Simply put, sometimes the bankruptcy lawyer just has to advise you to wait a little extra time until those time frames expire, so that when you file your bankruptcy case you can wipe out your tax debt. If you have any questions about these issues, call my office at 770-792-1000 and I’ll try to help you wipe out your income taxes.

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Good Morning, this is Roger Ghai of www.Chapter7attorneys.com. I wanted to do a little informational video on bankruptcy options. In particular, Chapter 7 bankruptcy options and Chapter 13 bankruptcy

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

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Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

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Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?
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In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in

Can You Claim A Homestead Exemption In A Home You Do Not Live In?
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The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts

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    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

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      KENNESAW GA   30144

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact