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Norwalk, CT: Are federal income taxes dischargeable in bankruptcy? Yes
DISCHARGING FEDERAL INCOME TAXES IN BANKRUPTCY
 
Believe it or not, you may be able to discharge your federal tax debts in bankruptcy. There are some specific rules and timelines that must be followed to qualify.
 
In this blog I am referring specifically to what is known as a Chapter 7 bankruptcy filing which is a liquidation of debts available to individuals.
 
My firm, By The Book Taxes, located in Norwalk, CT specializes in income tax preparation for individuals, families and self-employed people. By the Book Taxes also helps clients resolve their tax debts by preparing and filing Installment Payment Agreements, Offers-in-Compromise, Currently Not Collectible and Innocent or Injured Spouse applications.
 
Federal income taxes may be eligible for discharge in bankruptcy if the following conditions are met:
 
         The due date of the tax return for that tax year (including extension) is not less than three (3) years prior to bankruptcy filing date.          The tax return was filed at least two (2) years prior to bankruptcy filing date.          Any additional tax assessments due to audit or amendment occurred at least 240 days prior to bankruptcy filing.          You can’t discharge a tax debt for a year that tax may still be assessed – under ... more

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