Taxes after 13

wcb77407

Junior Member

Joined: May 2011

Posts: 5

State: Texas
#1

Taxes after 13

09-25-2012, 08:46 AM

Are there any taxes due to the IRS from the discharge of the debts after completing a ch13 5yr plan?
Tags: None
salsa

Senior Member

Bankruptcy Newbie

Joined: Jun 2011

Posts: 125

State: Private
#2

09-25-2012, 09:21 AM

Nope, I don't believe so.
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TheBajan

Senior Member

Bankruptcy Tutor

Joined: Mar 2012

Posts: 587

State: Michigan
#3

09-25-2012, 09:36 AM

no. you may still need to file paperwork indicating that the debt was discharged but there are no taxes due on it.

Filed Ch 13 Feb 9, 2012, 341 meeting Mar 15, 2012, Confirmed Apr 5, 2012
Anticipated freedom party Apr 2015
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LadyInTheRed

Senior Member

Bankruptcy Guru

Joined: Dec 2009

Posts: 7718

State: California
#4

09-25-2012, 09:42 AM

Originally posted by TheBajan View Post

...you may still need to file paperwork indicating that the debt was discharged...

And you only have to do that if you receive a 1099C from one of your creditors.

LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!
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TheBajan

Senior Member

Bankruptcy Tutor

Joined: Mar 2012

Posts: 587

State: Michigan
#5

09-25-2012, 09:55 AM

Originally posted by LadyInTheRed View Post

And you only have to do that if you receive a 1099C from one of your creditors.

This is true. Thank you Lady for clarifying.

Filed Ch 13 Feb 9, 2012, 341 meeting Mar 15, 2012, Confirmed Apr 5, 2012
Anticipated freedom party Apr 2015
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