Florida Bankruptcy Services - Chapter 7 Bankruptcy Petition Preparation
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Taxes and Bankruptcy
Only the bankruptcy court can determine whether taxes can be
discharged in bankruptcy.
There are certain requirements that must be meet including: the tax return must be filed on time; the filing must not be
fraudulent; and the return must have been filed over 3 years ago as of the
bankruptcy filing date.
In some cases, if the tax return was filed late, was not fraudulent,
and was filed over 2 years ago as of the date of the bankruptcy
filing, the tax debt may be still be dischargeable but again, only the
court can make this determination.
1099 Forms
Sometimes employers issue 1099 forms instead of a W-2 forms. This is
generally due to an honest mistake (error) and sometimes not because the employer does not want to
pay unemployment, social security, and other mandatory taxes.
1099 Forms almost always causes a tax liability
because the IRS thinks you are self employed. Your taxes may need to be
amended and special forms will need to be filed.
If this has happened
to you, please visit your local IRS office, as the IRS can help you
deal with this issue.
Reference Materials
Frequently Asked Questions
Chapter 7 Bankruptcy
Got my Discharge of Debt
Copyright 2008 Florida Bankruptcy Services