QUESTION
Hi, I live in Los Angeles, CA. My question is regarding bankruptcy
Asked on Nov 25th, 2020 on Bankruptcy - California
More details to this question:
I am about to file bankruptcy but still have some cash left that cant be exempt. Can I use this money, which is 30.000$ to pay off my taxes to IRS for the past years before filing bankruptcy ? Thank you
1 ANSWER
Yes because IRS is a priority claim and not considered a non-priority claim as credit cards. But of course, you don't have to use the full amount at this time because California exemption is about $20,000 or more.
Answered on Nov 25th, 2020 at 3:34 PM