taxes taxes taxes

[jamesch13]

Hello everybody,

could anyone point me to relevant literature on taxes and bankruptcy. any website or any thread at this forum please, thanks.

i'm considering filing a bankruptcy under chapter 13 and i have none or very little knowledge about these things.

thanks so much

[Flamingo]

Have you tried the search option on here for your specific question/topic?

[bmcmull]

Its pretty simple in a ch13 you pay back your taxes over a 3-5 year time period without the penalties and interest charges from the IRS. You should consider the amount your atty. will charge though and the trustee's fees, and the fact that you will probably not have any money for a while. Should you have already filed the taxes and they are older 3 years plus they can be discharged if the IRS has not collected from you. You must have filed them, or the IRS must have assessed them to go that option. In that case you would have to file a ch7 and pass the means test.

[jamesch13]

if the taxes is more than 10 years old but the IRS has sent a letter of collection just last year, are those taxes dischargeable?

[biotechsolution]

yes...if you filed the return at least 2 years ago and the tax assessment was at 240 days ago.