There are some circumstances in which federal taxes may be discharged in a bankruptcy proceeding.
\nWhile it is possible to include taxes owed the IRS when you file for bankruptcy protection, there are very strict conditions that need to be met. If you are considering doing this, you must seek the experienced legal counsel of an Iowa bankruptcy lawyer. <\/p>\n
If you are filing a Chapter 7 bankruptcy, which is by far the most common bankruptcy declared in the U.S., federal income taxes may be discharged only when the taxes in question are more than three years old, were assessed on previous returns at least eight months prior to seeking bankruptcy protection, and you did not file a fraudulent tax return or try to avoid paying taxes. The issue is that if you are seen to have made an effort to pay the taxes, but just did not have enough funds at your (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" There are some circumstances in which federal taxes may be discharged in a bankruptcy proceeding. While it is possible to include taxes owed the IRS when you file for bankruptcy protection, there are very strict conditions that need to be…<\/span><\/p>\n