QUESTION

Can bankruptcy get rid of old IRS debts? I''ve heard that recent changes in the law would allow me to discharge debt of taxes that are more than 3 yrs

Asked on Aug 17th, 2012 on Bankruptcy - Alabama
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Bankruptcy Attorney serving Burbank, CA
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There are no recent changes in the laws regarding tax dischargeability.  In fact, it's been the same since before I started practicing in 1991. Income taxes can be discharged if certain specific criteria are met.  Essentially these requirements are:   (1) it has been more than 3 years since the returns were last DUE (including extensions) to be filed, (2) the returns were timely filed or it has been at least 2 years since the returns were filed, (3) there was no fraud involved or attempts to evade the tax, AND, (4) the taxes were not assessed within the last 240 days. Some of the above time periods can be extended upon the occurrence of certain events, and as with all areas of the law, there are nuances and exceptions, so it is important to have an experienced bankruptcy attorney review your case to determine your options. Mark Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr
Answered on Aug 18th, 2012 at 2:11 PM

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