Dorothy Bartholomew

Yes, federal income taxes are dischargeable in bankruptcy, but only under the following conditions:

• Your federal income taxes must have been due at least three years before you file bankruptcy. As a general rule, taxes are due on April 15th of the year after the year they were earned. In other words, your 2012 taxes were due on April 15, 2013. If, however, you had filed for an extension, your taxes would have been due on October 15, 2013.
• You must have filed the tax return at least two years before you file bankruptcy.
• The IRS must have assessed the taxes at least 240 days before you file bankruptcy.
• Your taxes must be true and accurate to the best of your knowledge. If you filed a fraudulent tax return or otherwise willfully attempted to evade paying taxes, your taxes are not going to be discharged in bankruptcy.
• You must have filed the taxes yourself. If the IRS files taxes on your behalf, chances are you will be unable to discharge those taxes in bankruptcy. There are exceptions to this rule, but the exceptions are rare.

Even if you satisfy all of the above conditions, certain circumstances stop the time periods from running. You should consult an attorney for a complete analysis of your tax liability before you file bankruptcy.

June 23, 2016

ARE FEDERAL INCOME TAXES DISCHARGEABLE IN BANKRUPTCY? Yes, federal income taxes are dischargeable in bankruptcy, but only under the following conditions: • Your federal income taxes must have been due at least three years before you file bankruptcy. As a general rule, taxes are due on April 15th of the year after the year they were earned. In other words, your 2012 taxes were due on April 15, 2013. If, however, you had filed for an extension, your taxes would have been due on October 15, 2013. • You must have filed the tax return at least two years before you file bankruptcy. • The IRS must have assessed the taxes at least 240 days before you file bankruptcy. • Your taxes must be true and accurate to the best of your knowledge. If you filed a fraudulent tax return or otherwise willfully attempted to evade paying taxes, your taxes are not going to be discharged in bankruptcy. • You must have filed the taxes yourself. If the IRS files taxes on your behalf, chances are you will be unable to discharge those taxes in bankruptcy. There are exceptions to this rule, but the exceptions are rare. Even if you satisfy all of the above conditions, certain circumstances stop the time periods from running. You should consult an attorney for a complete analysis of your tax liability before you file bankruptcy.

Yes, federal income taxes are dischargeable in bankruptcy, but only under the following conditions: • Your federal income taxes must have been due at least three […]
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