Getting Associated With Tax Debts In Bankruptcy: Difference between revisions

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Revision as of 01:53, 25 February 2025

Declaring bankruptcy is you receive . method that you can use to solve the tax problem. But proper care must be used if tend to be going in this method as if IRS finds that you've got cheated them then severe actions are going to taken against you. So, before choosing this method, consult a tax relief professional to discover if can be the smartest choice for any person.

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You for you to file a tax return for that year 2 before the bankruptcy. With regard to eligible to wipe out the debt, you need have filed a tax return for the irs or State debt you wish to discharge at least two years before bankruptcy options. Thus, even though the debt is over 36 months old, purchase filed the return late and 2 yrs has not yet passed, a person cannot erase the Government or State tax debt.

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