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Article Title: How to File Taxes Owed With Bankruptcy
Author: Tony Lu
Word Count: 582
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Having problems with taxes and debt is definitely not a good thing for anyone concerned, it brings an uncomfortable feeling to your life.Then you ask can you file taxes owed with bankruptcy, yes you can in some circumstances, but there is certain taxes you won't be able to.
As filing taxes especially when filing for bankruptcy at the same time can be a daunting task it is a very good idea to get a tax or bankruptcy lawyer to help you through this process, a lawyer will be able to help you with the things you may know nothing about like the chapters of bankruptcy cases and especially for which one you should file, as some taxes won't be discharged he will also know if your type of tax has the chance to be discharged. He has to be in this type of work and know quite a lot about it.
To know whether the tax debt you have is general unsecured or priority taxes is very important since even when you file for bankruptcy, taxes that is priority taxes will not be discharged and the debt will be yours to repay and it will be the full amount owed.
If your decision is to file for a chapter 13 bankruptcy case, a certain percentage of the money owed will be billed to you this percentage range from 0-100. This means that the chapter case you file for will determine how much of your tax debt will be discharged.
The taxes filed for, had to be filed 2 years earlier than when you filed for a bankruptcy case, tax evasion an fraudulent returns filed will also be picked up and your case will not be successful. The returns put in by you must have been done out of your own will.
You can get into debt with taxes like sales taxes and a few other taxes as well, having these discharged is possible when bankruptcy is your decision, but you will need good advice and someone who has knowledge about handling this problems.
If the need to discharge personal taxes is there your taxes has to be older than 3 years, and a 240 day assessment is also needed, if the requirements is met these taxes should generally be discharged. Always keeping in mind that the voluntarily aspect of filing your taxes will be looked at.
If you want to get one years tax discharged the most probable chapter to file for would be seven, if you file for chapter thirteen you will still pay a percentage[0-100] of the total owed to the person the money should be paid to. These are the two most likely chapters you will work on.
Along with a few other taxes Payroll taxes will not be discharged so filing in this direction will have no effect. Try to get surety that when your taxes has been discharged your bill will be clean since it can happen easily that you may owe something on other taxes and your bill won't be clear even in a case of bankruptcy.The best option is to ask the lawyer on your case to get this confirmed beforehand.
Asking others around you about this will not help you. Can you file taxes owed with bankruptcy, take it to a lawyer who will help you with all the things you may not have an understanding of.
About The Author:
http://www.torontobankruptcytrustees.com/is an extremely complex process,if you need help through the process, hire a
http://www.torontobankruptcytrustee.com/
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