Unfiled taxes

[relieef]

-I am going to submit my petition come this Monday. Is it required to have filed the latest current Tax return?

- Also: would the trustee look into taxes not filed 28yrs. ago?

Thanks

[IHateToBeEmo]

I believe you have to include a copy of your most recent return, so if you haven't filed yet for the year ending 2010 you would include your tax return for the year ending 2009. 28 years ago will not be relevant.

[justbroke]

The law reads that you must have filed all taxes that were due for all years prior to filing. Whether someone will care about a tax return 28 years ago, would be interesting.

If you owe money from 28 years ago, the IRS is going to be very interested, and should have already taken steps to collect the money. If there was no tax due, then it wouldn't be an issue.

[ScaredINMich]

We didn't have our taxes filed when we had our 341, but the trustee just asked that they be submitted within 2 weeks.

[relieef]

The law reads that you must have filed all taxes that were due for all years prior to filing. Whether someone will care about a tax return 28 years ago, would be interesting.

my concern is I have a 4-year and 8-yr stretch of not filing taxes over the past 59 years, many of those years from being under the table and in a few cases just not bothering to file ( not owing the IRS ). However, many years ago I had a business with a business checking account (bank never did ask for my tax exempt #) never filed anything and haven't heard a word all these years (probably will during the BK-7) . I could be opening a worst case with the IRS than with the creditors filing BK-7 .

[relieef]

10 Years to Collect a Tax Liability
According to the statue of limitations, the IRS has 10 years to collect outstanding tax liabilities. The "10 year clock" begins to tick from the day the original liability was finalized. Most commonly this is the result of taxes owed on a tax return, but could include other situations such as debt turned up by an audit. The IRS has 10 years to collect the back taxes, as well as interest and penalties.

What are the chances of the IRS overlooking my situation and not collecting on a tax liability? The answer is simple: not very good. You may get lucky, but remember, the IRS is closely watching what you do. If you owe them money, no matter how much or little, there is close to 100 percent chance that they will collect it within 10 years.

As a taxpayer it is important to be aware of the statue of limitations and how it can affect you.



I found this article;(above) With the exception of fraud involved I may be safe. Any thoughts?

Thanks

[relieef]

The law reads that you must have filed all taxes that were due for all years prior to filing. Whether someone will care about a tax return 28 years ago, would be interesting.

If filing for a CH-13 all unfilled taxes must be filed , for CH-7 up to last 2-yrs should be filed during the 341 meeting unless trustee states other wise. Ya or Na ?

I have had some difficult stressful times in my life but this beats them all.

Thanks